What To Watch For In EOG’s Stock Past Q2?

EOG Resources (NYSE: EOG), an energy company engaging in the exploration, development, production, and marketing of crude oil and natural gas, is scheduled to announce its fiscal second-quarter results on Thursday, August 4. We expect EOG stock to trade lower past Q2 with both revenue and earnings missing market expectations marginally. EOG’s stock price has been affected more by the macroeconomic outlook than its profitability, with economic indicators pointing to a slowdown. Despite high profits and a modest valuation, EOG’s stock may continue to tread water in the short term. Oil prices have been surprisingly lower than expected at the beginning of the year, with prices jumping only recently due to a falling U.S. dollar and supply cuts by the world’s biggest oil exporters (Saudi Arabia and Russia).

Our forecast indicates that EOG’s valuation is around $123 per share, which is 6% lower than the current market price. Look at our interactive dashboard analysis on EOG Resources Earnings Preview: What To Expect in Q2? for more details.