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This Metric Says You Are Smart to Buy EOG Resources Inc (NYSE:EOG)

EOG Resources Inc (NYSE:EOG) was in 41 hedge funds’ portfolio at the end of the fourth quarter of 2012. EOG has seen an increase in activity from the world’s largest hedge funds in recent months. There were 37 hedge funds in our database with EOG positions at the end of the previous quarter.

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Keeping this in mind, we’re going to take a gander at the recent action surrounding EOG Resources Inc (NYSE:EOG).

What does the smart money think about EOG Resources Inc (NYSE:EOG)?

At the end of the fourth quarter, a total of 41 of the hedge funds we track held long positions in this stock, a change of 11% from the previous quarter. With the smart money’s sentiment swirling, there exists an “upper tier” of noteworthy hedge fund managers who were upping their stakes substantially.

Of the funds we track, Diamond Hill Capital, managed by Ric Dillon, holds the most valuable position in EOG Resources Inc (NYSE:EOG). Diamond Hill Capital has a $232 million billion position in the stock, comprising 2.7% of its 13F portfolio. On Diamond Hill Capital’s heels is Ken Griffin of Citadel Investment Group, with a $157 million position; 1.5% of its 13F portfolio is allocated to the company. Some other hedge funds with similar optimism include Sean Cullinan’s Point State Capital, Rob Citrone’s Discovery Capital Management and David Stemerman’s Conatus Capital Management.

Now, key money managers have been driving this bullishness. Point State Capital, managed by Sean Cullinan, initiated the biggest position in EOG Resources Inc (NYSE:EOG). Point State Capital had 98 million invested in the company at the end of the quarter. Jim Chanos’s Kynikos also made a $10 million investment in the stock during the quarter. The following funds were also among the new EOG investors: David Costen Haley’s HBK Investments, Gregory Fraser, Rudolph Kluiber, and Timothy Krochuk’s GRT Capital Partners, and Andrew Sandler’s Sandler Capital Management.

How are insiders trading EOG Resources Inc (NYSE:EOG)?

Bullish insider trading is best served when the company we’re looking at has seen transactions within the past half-year. Over the last half-year time frame, EOG Resources Inc (NYSE:EOG) has experienced zero unique insiders buying, and 8 insider sales (see the details of insider trades here).

With the results shown by Insider Monkey’s time-tested strategies, retail investors must always pay attention to hedge fund and insider trading sentiment, and EOG Resources Inc (NYSE:EOG) shareholders fit into this picture quite nicely.

Click here to learn more about Insider Monkey’s Hedge Fund Newsletter

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