Speculation swirls around potential bid for EOG Resources

Oct. 16, 2020 4:38 PM ETEOG Resources, Inc. (EOG), CVX, XOM, TTEXOM, TTE, CVX, EOGBy: Carl Surran, SA News Editor85 Comments
  • 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.

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