EOG Resources's most recent trend suggests a bullish bias. One trading opportunity on EOG Resources is a Bull Put Spread using a strike $130.00 short put and a strike $125.00 long put offers a potential 39.66% return on risk over the next 10 calendar days. Maximum profit would be generated if the Bull Put Spread were to expire worthless, which would occur if the stock were above $130.00 by expiration. The full premium credit of $1.42 would be kept by the premium seller. The risk of $3.58 would be incurred if the stock dropped below the $125.00 long put strike price.
The 5-day moving average is moving up which suggests that the short-term momentum for EOG Resources is bullish and the probability of a rise in share price is higher if the stock starts trending.
The 20-day moving average is moving up which suggests that the medium-term momentum for EOG Resources is bullish.
The RSI indicator is above 80 which suggests that the stock is in overbought territory.
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LATEST NEWS for EOG Resources
The 5 Best Energy Stocks for 2018
Fri, 05 Oct 2018 10:00:00 +0000
Oil prices jumped to four-year highs in October, with Brent crude oil touching $85 a barrel, as investors focused on upcoming U.S. sanctions against oil-producing Iran and shrugged off a report showing a spike in weekly U.S. stockpiles. The focus on Iran has overwhelmed other news that might have otherwise sent oil prices lower — including a report from the International Energy Agency (IEA) that U.S. crude inventories rose by 8 million barrels in the last week of September. Oil prices are expected to rise for the foreseeable future and that should give a lift to a number of energy companies.
Positive for Permian Producers: WTI Spread Fell
Tue, 02 Oct 2018 17:40:02 +0000
The WTI Cushing-WTI Midland spread, a key indicator for Permian producers to watch, fell to a three-month low of $6.0 per barrel in the week ending September 28. The previous low of $4.1 per barrel was seen on June 25. The current spread is still slightly higher than the one-year average of $5.7 per barrel.
Upstream Stocks Might Continue to Build on Last Week’s Gains
Tue, 02 Oct 2018 16:06:35 +0000
In the week ending September 28, upstream energy stocks continued their winning streak for the third consecutive week. The SPDR S&P Oil & Gas Exploration & Production ETF (XOP), which includes 56 upstream companies, rose 1.9% last week. Overall, XOP gained 2.2% last month. Last week, XOP’s gains were due to the rise in commodity prices and the narrowing of the WTI spreads.
What Analysts Are Recommending for Devon Energy
Mon, 01 Oct 2018 14:32:30 +0000
Of the Reuters-surveyed analysts rating Devon Energy (DVN), 66% of them are recommending a “buy” for the stock, and the remaining 34% are rating it a “hold.” Barclays recently initiated coverage of DVN with an “overweight” rating, which is equivalent to a “buy.” DVN has seen six rating updates over the past six months, including two upgrades and four new coverage initiations.
What Devon Energy’s Technical Indicators Tell Us
Fri, 28 Sep 2018 19:55:02 +0000
Devon Energy (DVN) continues to trade below its short-term (50-day) moving average. It was trading 6.2% below its 50-day SMA (simple moving average) and 0.8% above its 200-day SMA as of September 26. The 200-day SMA should act as a support for DVN. In comparison, DVN’s peers Anadarko Petroleum (APC) and EOG Resources (EOG) were trading 0.8% and 5.3%, respectively, above their 200-day SMAs.
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