Investors Are Going Crazy for EOG Resources Inc (EOG)

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As aggregate interest increased, some big names have jumped into EOG Resources Inc (NYSE:EOG) headfirst. OZ Management established the most outsized call position in EOG Resources Inc (NYSE:EOG). The other funds with new positions in the stock are Ken Griffin’s Citadel Investment Group, Benjamin A. Smith’s Laurion Capital Management, and Charles Clough’s Clough Capital Partners.

Let’s check out hedge fund activity in other stocks similar to EOG Resources Inc (NYSE:EOG). We will take a look at Canadian National Railway (USA) (NYSE:CNI), BHP Billiton Limited (ADR) (NYSE:BHP), Honda Motor Co Ltd (ADR) (NYSE:HMC), and Baidu.com, Inc. (ADR) (NASDAQ:BIDU). All of these stocks’ market caps match EOG’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
CNI 17 1447565 -4
BHP 19 253041 2
HMC 11 150009 3
BIDU 57 4125681 1

As you can see these stocks had an average of 26 hedge funds with bullish positions and the average amount invested in these stocks was $1.49 billion. That figure was $1.28 billion in EOG’s case. Baidu.com, Inc. (ADR) (NASDAQ:BIDU) is the most popular stock in this table. On the other hand Honda Motor Co Ltd (ADR) (NYSE:HMC) is the least popular one with only 11 bullish hedge fund positions. EOG Resources Inc (NYSE:EOG) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard BIDU might be a better candidate to consider for a long position.

Disclosure: None

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