EOG Resources Sees Unusually Large Options Volume (NYSE:EOG)

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EOG Resources Inc (NYSE:EOG) was the recipient of unusually large options trading on Monday. Stock traders bought 41,331 call options on the company. This is an increase of approximately 580% compared to the typical volume of 6,078 call options.

Shares of EOG Resources stock traded up $2.35 on Wednesday, reaching $40.94. The company’s stock had a trading volume of 278,755 shares, compared to its average volume of 5,430,661. The company has a market capitalization of $22.47 billion, a P/E ratio of 67.77, a PEG ratio of 9.21 and a beta of 1.95. EOG Resources has a 52-week low of $27.00 and a 52-week high of $89.54. The stock has a 50-day moving average price of $45.85 and a 200-day moving average price of $47.30. The company has a quick ratio of 1.82, a current ratio of 2.13 and a debt-to-equity ratio of 0.28.

EOG Resources (NYSE:EOG) last issued its quarterly earnings results on Thursday, August 6th. The energy exploration company reported ($0.23) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.18). EOG Resources had a return on equity of 7.70% and a net margin of 2.44%. The firm had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $2.30 billion. During the same quarter in the previous year, the firm posted $1.31 earnings per share. The firm’s revenue for the quarter was down 76.0% compared to the same quarter last year. Sell-side analysts forecast that EOG Resources will post 0.51 earnings per share for the current fiscal year.

EOG has been the subject of a number of research reports. Mizuho lifted their target price on EOG Resources from $83.00 to $84.00 in a report on Friday, June 19th. Wolfe Research cut EOG Resources from an “outperform” rating to a “peer perform” rating and decreased their target price for the company from $60.00 to $54.00 in a research report on Wednesday, July 15th. Bank of America cut EOG Resources from a “buy” rating to a “neutral” rating in a research report on Monday, June 1st. Credit Suisse Group initiated coverage on EOG Resources in a research report on Tuesday, August 4th. They issued a “buy” rating and a $65.00 target price for the company. Finally, Northland Securities initiated coverage on EOG Resources in a research report on Monday. They set a “market perform” rating and a $56.00 price objective for the company. Thirteen research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. EOG Resources currently has a consensus rating of “Buy” and an average price target of $64.17.

Several institutional investors have recently made changes to their positions in the company. Blume Capital Management Inc. increased its holdings in shares of EOG Resources by 66.7% in the second quarter. Blume Capital Management Inc. now owns 500 shares of the energy exploration company’s stock valued at $25,000 after purchasing an additional 200 shares in the last quarter. Highland Capital Management LLC lifted its holdings in shares of EOG Resources by 0.5% during the second quarter. Highland Capital Management LLC now owns 37,497 shares of the energy exploration company’s stock worth $1,900,000 after purchasing an additional 204 shares during the period. Cim Investment Mangement Inc. lifted its holdings in shares of EOG Resources by 3.4% during the first quarter. Cim Investment Mangement Inc. now owns 6,903 shares of the energy exploration company’s stock worth $248,000 after purchasing an additional 229 shares during the period. Moneta Group Investment Advisors LLC lifted its holdings in shares of EOG Resources by 4.0% during the second quarter. Moneta Group Investment Advisors LLC now owns 6,514 shares of the energy exploration company’s stock worth $330,000 after purchasing an additional 250 shares during the period. Finally, Osborne Partners Capital Management LLC lifted its holdings in shares of EOG Resources by 0.5% during the second quarter. Osborne Partners Capital Management LLC now owns 51,898 shares of the energy exploration company’s stock worth $2,629,000 after purchasing an additional 264 shares during the period. 87.68% of the stock is currently owned by institutional investors and hedge funds.

About EOG Resources

EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil and natural gas. The company's principal producing areas are located in New Mexico, North Dakota, Texas, Utah, and Wyoming in the United States; and the Republic of Trinidad and Tobago, the People's Republic of China, and Canada.

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