Is Buying EOG Resources Inc Here a Winning Strategy? Option Traders Like The Stock

 Is Buying EOG Resources Inc Here a Winning Strategy? Option Traders Like The Stock

In today’s session EOG Resources Inc (EOG) registered an unusually high (285) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the December, 2016 call, expecting serious EOG increase. With 285 contracts traded and 30934 open interest for the Dec, 16 contract, it seems this is a quite bullish bet. The option with symbol: EOG161216C00095000 closed last at: $2.42 or 31.8% down. About 1.90M shares traded hands. EOG Resources Inc (NYSE:EOG) has risen 9.38% since April 27, 2016 and is uptrending. It has outperformed by 4.16% the S&P500.

Analysts await EOG Resources Inc (NYSE:EOG) to report earnings on February, 23. They expect $-0.15 EPS, up 44.44% or $0.12 from last year’s $-0.27 per share. After $-0.40 actual EPS reported by EOG Resources Inc for the previous quarter, Wall Street now forecasts -62.50% EPS growth.

EOG Resources Inc (NYSE:EOG) Ratings Coverage

Out of 27 analysts covering EOG Resources (NYSE:EOG), 17 rate it a “Buy”, 0 “Sell”, while 10 “Hold”. This means 63% are positive. $112 is the highest target while $61 is the lowest. The $93.53 average target is -6.24% below today’s ($99.76) stock price. EOG Resources has been the topic of 57 analyst reports since July 22, 2015 according to StockzIntelligence Inc. On Tuesday, March 29 the stock rating was maintained by Deutsche Bank with “Buy”. Johnson Rice downgraded the shares of EOG in a report on Thursday, May 19 to “Hold” rating. Wunderlich maintained EOG Resources Inc (NYSE:EOG) on Friday, October 7 with “Buy” rating. The firm has “Buy” rating by Citigroup given on Tuesday, January 5. The rating was downgraded by Susquehanna on Wednesday, May 11 to “Neutral”. The stock of EOG Resources Inc (NYSE:EOG) earned “Neutral” rating by Credit Suisse on Tuesday, September 8. The firm has “Overweight” rating by CapitalOne given on Wednesday, November 16. The stock of EOG Resources Inc (NYSE:EOG) has “Neutral” rating given on Monday, September 14 by Citigroup. The rating was maintained by RBC Capital Markets with “Outperform” on Monday, November 9. RBC Capital Markets reinitiated EOG Resources Inc (NYSE:EOG) on Friday, March 18 with “Sector Perform” rating.

According to Zacks Investment Research, “EOG Resources, Inc. is engaged, either directly or through a marketing subsidiary with regard to domestic operations or through various subsidiaries with regard to international operations, in the exploration for, and the development, production and marketing of, natural gas and crude oil primarily in major producing basins in the United States, as well as in Canada and Trinidad. The company’s business strategy is to maximize the rate of return on investment of capital by controlling all operating and capital costs.”

Insitutional Activity: The institutional sentiment increased to 1.06 in Q2 2016. Its up 0.17, from 0.89 in 2016Q1. The ratio increased, 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.
Synovus holds 0.08% or 41,583 shares in its portfolio. Cim Invest Mangement, a Pennsylvania-based fund reported 8,003 shares. The New York-based American Group has invested 0% in EOG Resources Inc (NYSE:EOG). The Wisconsin-based Thompson Investment Mngmt Incorporated has invested 1% in EOG Resources Inc (NYSE:EOG). Bb&T Secs Limited Liability Company accumulated 8,968 shares or 0.01% of the stock. Cetera Ltd Liability Com has 3,354 shares for 0.02% of their US portfolio. Monetta Fincl Incorporated holds 1.58% of its portfolio in EOG Resources Inc (NYSE:EOG) for 30,000 shares. Qci Asset Mngmt Incorporated New York holds 0.01% of its portfolio in EOG Resources Inc (NYSE:EOG) for 720 shares. Sumitomo Mitsui Tru accumulated 0.22% or 1.54M shares. Contravisory Investment Mngmt accumulated 23 shares or 0% of the stock. Denver Inv Advisors accumulated 30,004 shares or 0.11% of the stock. Jp Marvel Investment Ltd Liability holds 2.62% or 89,796 shares in its portfolio. Arosa Management Limited Partnership holds 1.94% or 189,907 shares in its portfolio. Mackenzie has 174,341 shares for 0.08% of their US portfolio. The Pennsylvania-based Sei Invs has invested 0.15% in EOG Resources Inc (NYSE:EOG).

Insider Transactions: Since June 6, 2016, the stock had 0 insider buys, and 15 sales for $7.33 million net activity. WISNER FRANK G had sold 2,660 shares worth $252,069. 831 shares with value of $70,596 were sold by Janssen Ann D. on Thursday, June 9. $415,152 worth of shares were sold by Donaldson Michael P on Monday, November 7. On Monday, November 14 the insider CRISP CHARLES R sold $1.30M. Shares for $1.54M were sold by Thomas William R. on Wednesday, September 21. Shares for $418,819 were sold by Helms Lloyd W Jr on Wednesday, June 8. Another trade for 8,763 shares valued at $818,788 was sold by DRIGGERS TIMOTHY K.

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 $56.87 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.

EOG Company Profile

EOG Resources, Inc. (EOG), incorporated on June 12, 1985, 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’s activities are all natural gas and crude oil exploration and production related. 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.

More recent EOG Resources Inc (NYSE:EOG) news were published by: Fool.com which released: “EOG Resources, Inc. Is in a Class All by Itself” on November 22, 2016. Also Fool.com published the news titled: “3 Remarkable Numbers From EOG Resources Inc’s Q3 Report” on November 04, 2016. Seekingalpha.com‘s news article titled: “EOG Resources: Long-Term Play” with publication date: November 28, 2016 was also an interesting one.

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