How Is The Market Feeling About EOG Resources?
Portfolio Pulse from Benzinga Insights
EOG Resources (NYSE:EOG) has seen a 3.48% increase in short percent of float, now at 1.19% of all shares available for trading. With 6.87 million shares sold short, it would take about 2.22 days to cover these positions. This rise in short interest indicates a more bearish market sentiment towards EOG, although it's lower than the peer group average of 6.50%. The increase in short interest doesn't necessarily predict a price drop but suggests traders are betting against the stock.
March 01, 2024 | 8:00 pm
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EOG Resources has experienced a 3.48% increase in short interest, indicating a bearish market sentiment. However, its short interest is still below the peer group average.
The increase in short interest for EOG Resources suggests that traders are more bearish on the stock, potentially leading to downward pressure on its price in the short term. However, being below the peer average might mitigate some negative impact, indicating a mixed sentiment among investors.
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