EOG Resources' Fiscal Q2 Results to Highlight Constructive Backdrop for Permian Asset, RBC Says

MT Newswires Live07-01 22:40

EOG Resources' (EOG) fiscal Q2 results are expected to highlight a constructive backdrop on the Permian asset with improved near-term productivity, RBC Capital Markets analysts said in a Tuesday note.

The company is scheduled to report its fiscal Q2 financial results on Aug. 5.

RBC said that EOG is expected to maintain its budget and production outlook, including reallocating activity to liquids from natural gas.

Analysts said that the company's UAE and Bahrain exploration programs progressed through the Iran conflict, and the company committed to providing updates on initial exploration well performance this year.

RBC lowered the company's fiscal Q2 adjusted earnings estimate to $5.08 from $5.13 per share. Analysts polled by FactSet expect $5.02.

Analysts have an outperform rating on the stock and a $175 price target.

Price: 128.01, Change: -1.72, Percent Change: -1.33

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