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, EOG Resources EOG, Matador Resources MTDR, Ovintiv OVV and Permian Resources PR to be best-positioned in Q2, given the recent stock performance, investor positioning and expectations