(EOG) - Analyzing EOG Resources's Short Interest
Portfolio Pulse from Benzinga Insights
EOG Resources's (NYSE:EOG) short interest has increased by 9.52% since the last report, with 10.56 million shares sold short, representing 1.84% of its float. It would take about 3.24 days to cover all short positions. This rise in short interest can indicate a bearish market sentiment towards EOG, although it has less short interest compared to its peers' average of 7.34%. The increase in short interest doesn't necessarily predict a price drop but suggests traders are betting more on its decline.
May 10, 2024 | 2:45 pm
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EOG Resources has seen a 9.52% increase in short interest, indicating a bearish sentiment among traders. However, its short interest is below the peer average, suggesting less bearish sentiment compared to its peers.
The increase in short interest for EOG Resources suggests that traders are more bearish on the stock, potentially leading to short-term price pressure. However, being below the peer average in short interest might mitigate some negative sentiment, indicating that while there is bearish sentiment, it is not as strong as it could be compared to its peers. This analysis is based on the reported increase in short interest and its comparison with peer averages.
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IMPORTANCE 75
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