Seeking Alpha

Speculation swirls around potential bid for EOG Resources

|About: EOG Resources, Inc. (EOG)|By: , SA News Editor

EOG Resources (EOG -1.7%) spiked as much as 4.7% in late trading just before closing lower, apparently in response to a Betaville report that market rumors say a "major oil company" is considering a bid for EOG.

The oil company evaluating a bid is not known, although the speculation centers on companies such as Chevron (NYSE:CVX), Exxon Mobil (NYSE:XOM) and Total (NYSE:TOT), according to the report.

The Betaville report is an "uncooked alert," a term it uses to refer to market gossip.

Power Hedge sees EOG as "a very good energy pick for investors to ride out the turbulence and get paid for doing so," according to a report posted recently on Seeking Alpha.