Investor hopes for oil companies in Q2 mostly low, Siebert Williams says

Brokerage Siebert Williams says investor hopes are mostly low for oil companies despite its expectations, which were in line to positive Q2 results

Adds that in contrast, natgas names have a headwind of a Q2 miss on distributable cash flow per share/core profit and downward revisions to 2H25, positioning them less favorably in the near term; long-term thesis for natural gas remains strong

Brokerage expects management teams to discuss the implications of the One Big Beautiful Bill, which provides numerous tax incentives that should contribute to an uplift to free cash flow

Expects some tweaks in Q2 quarter, some of which due to a few companies electing to gear back up on firming oil prices or reflecting on previously announced acquisitions

"We expect additional agreements from the industry as AI power generation demand continues to scale" - Siebert Williams

It considers Devon Energy DVN.N, EOG Resources EOG.N, Matador Resources MTDR.N, Ovintiv OVV.N and Permian Resources PR.N to be best-positioned in Q2, given the recent stock performance, investor positioning and expectations