Shares of EOG Resources (EOG) Sees Large Outflow of Money

EOG Resources (EOG) : Money flow in the EOG Resources (EOG) stock was negative (12.39 million) on Wednesday, which shows that the investors used the strength in the stock price to reduce their holdings. The total traded value on upticks was $30.02 million, compared to $42.42 million on downticks. The total uptick to downtick ratio was 0.71, indicating the underlying weakness in the stock. Even in block trades, money flow was negative ($11.2 million), indicating selling on the strength. The transaction value during uptick in block trades was $0.82 million. Downtick transaction value in block trades amounted to $12.02 million, indicating persistent selling. The uptick to downtick ratio was 0.07. EOG Resources (EOG) traded $0.07 higher at $82.11 gaining 0.09% over the previous days close.


Also, In the latest statement by the brokerage house, Tudor Pickering downgrades its outlook on EOG Resources (NYSE:EOG). The current rating of the shares is Buy, according to the research report released by the firm. Previously, the company had a rating of Hold. The rating by the firm was issued on July 15, 2016.

EOG Resources (NYSE:EOG): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $81.53 and $80.92 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $82.86. The buying momentum continued till the end and the stock did not give up its gains. It closed at $82.11, notching a gain of 0.09% for the day. The total traded volume was 2,156,700 . The stock had closed at $82.04 on the previous day.

The stock has recorded a 20-day Moving Average of 1.02% and the 50-Day Moving Average is 0.18%. In a related news,The officer (EVP, Exploration & Production) of Eog Resources Inc, Helms Lloyd W Jr sold 4,875 shares at $81.83 on July 8, 2016. The Insider selling transaction had a total value worth of $398,921. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.

EOG Resources, Inc. (EOG), is engaged in the exploration, development, production and marketing of crude oil and natural gas. The Company operates in producing basins in the United States, Canada, The Republic of Trinidad and Tobago (Trinidad), the United Kingdom, The Peoples Republic of China (China) and the Argentine Republic (Argentina), among others. As of December 31, 2014, EOGs total estimated net proved reserves were 2,497 million barrels of oil equivalent (MMBoe), of which 1,140 million barrels (MMBbl) are crude oil and condensate reserves, 467 MMBbl are natural gas liquids (NGLs) reserves and 5,343 billion cubic feet, or 890 MMBoe, are natural gas reserves. As of December 31, 2014, approximately 97% of the Companys net proved reserves, on a crude oil equivalent basis, are located in the United States and 3% in Trinidad. Its operations are focused in the basins in the United States, with a focus on crude oil.

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