EOG Resources Inc Is a Buy; Strong Momentum from Option Traders


 EOG Resources Inc Is a Buy; Strong Momentum from Option Traders

In today’s session EOG Resources Inc (EOG) registered an unusually high (1,712) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the October, 2016 call, expecting serious EOG increase. With 1,712 contracts traded and 37954 open interest for the Oct, 16 contract, it seems this is a quite bullish bet. The option with symbol: EOG161021C00097500 closed last at: $2.16 or 40.3% up. About 1.72M shares traded hands. EOG Resources Inc (NYSE:EOG) has risen 47.82% since March 1, 2016 and is uptrending. It has outperformed by 38.57% the S&P500.

Analysts await EOG Resources Inc (NYSE:EOG) to report earnings on November, 3. They expect $-0.23 earnings per share, down 1,250.00% or $0.25 from last year’s $0.02 per share. After $-0.38 actual earnings per share reported by EOG Resources Inc for the previous quarter, Wall Street now forecasts -39.47% EPS growth.

EOG Resources Inc (NYSE:EOG) Ratings Coverage

Out of 23 analysts covering EOG Resources (NYSE:EOG), 12 rate it a “Buy”, 1 “Sell”, while 10 “Hold”. This means 52% are positive. $112 is the highest target while $61 is the lowest. The $92.22 average target is -3.42% below today’s ($95.49) stock price. EOG Resources has been the topic of 51 analyst reports since July 22, 2015 according to StockzIntelligence Inc. The stock of EOG Resources Inc (NYSE:EOG) has “Neutral” rating given on Wednesday, May 11 by Susquehanna. The company was downgraded on Monday, October 3 by Societe Generale. The stock of EOG Resources Inc (NYSE:EOG) has “Outperform” rating given on Tuesday, September 13 by FBR Capital. The stock of EOG Resources Inc (NYSE:EOG) has “Neutral” rating given on Wednesday, December 9 by JP Morgan. Jefferies maintained the shares of EOG in a report on Wednesday, September 7 with “Hold” rating. On Monday, November 9 the stock rating was maintained by Barclays Capital with “Overweight”. The rating was maintained by Citigroup on Friday, August 5 with “Buy”. The stock of EOG Resources Inc (NYSE:EOG) has “Market Perform” rating given on Monday, November 9 by Raymond James. The stock of EOG Resources Inc (NYSE:EOG) has “Neutral” rating given on Monday, September 14 by Citigroup. RBC Capital Markets maintained EOG Resources Inc (NYSE:EOG) rating on Wednesday, September 7. RBC Capital Markets has “Sector Perform” rating and $98 price target.

Insitutional Activity: The institutional sentiment decreased to 0.89 in Q2 2016. Its down 0.11, from 1 in 2016Q1. The ratio turned negative, as 66 funds sold all EOG Resources Inc shares owned while 316 reduced positions. 71 funds bought stakes while 268 increased positions. They now own 484.89 million shares or 3.64% less from 503.18 million shares in 2016Q1.
Burt Wealth Advsr holds 392 shares or 0.04% of its portfolio. Parkside Savings Bank And Tru last reported 270 shares in the company. Millennium Limited Liability Company holds 0.02% or 118,219 shares in its portfolio. The Connecticut-based Bradley Foster & Sargent Incorporated Ct has invested 0.21% in EOG Resources Inc (NYSE:EOG). Lenox Wealth Mngmt accumulated 1,465 shares or 0.09% of the stock. Autus Asset Management Ltd Liability holds 0.16% or 8,635 shares in its portfolio. Texas Yale Cap Corporation reported 7,800 shares or 0.06% of all its holdings. Canada Pension Plan Investment Board accumulated 113,401 shares or 0.04% of the stock. Mizuho Trust Bk has 0.24% invested in the company for 928,793 shares. Delta Lloyd Nv last reported 35,889 shares in the company. Element Capital Management Llc last reported 33,916 shares in the company. Jennison Assoc Ltd Liability Corp owns 2.52M shares or 0.23% of their US portfolio. Waverton Mgmt reported 463,620 shares or 2.9% of all its holdings. American Assets Inv Mngmt last reported 2,800 shares in the company. Nomura Hldgs holds 4,814 shares or 0% of its portfolio.

Insider Transactions: Since April 8, 2016, the stock had 0 buys, and 10 selling transactions for $4.82 million net activity. 2,819 shares were sold by Janssen Ann D., worth $227,929. Donaldson Michael P also sold $771,043 worth of EOG Resources Inc (NYSE:EOG) shares. $187,700 worth of EOG Resources Inc (NYSE:EOG) was sold by WISNER FRANK G. Another trade for 8,763 shares valued at $818,788 was sold by DRIGGERS TIMOTHY K. Helms Lloyd W Jr sold $398,891 worth of stock. Shares for $1.54M were sold by Thomas William R. on Wednesday, September 21.

EOG Resources, Inc. explores for, develops, produces and markets natural gas and crude oil primarily in major producing basins in the United States, The Republic of Trinidad and Tobago (Trinidad), the United Kingdom, The People’s Republic of China (China), Canada and, from time to time, select other international areas. The company has a market cap of $52.06 billion. The Company’s activities are all natural gas and crude oil exploration and production related. It currently has negative earnings. EOG’s total estimated net proved reserves include approximately 2,118 million barrels of oil equivalent (MMBoe), of which over 1,098 million barrels (MMBbl) is crude oil and condensate reserves, approximately 383 MMBbl include natural gas liquids (NGLs) reserves and over 3,825 billion cubic feet, or 637 MMBoe, includes natural gas reserves.

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