All 25 names in the oil and gas E&P index have reported Q2. Twenty beat on EPS, and the services names got the best of the tape.
$SLB cleared its estimate by 6.3% at $0.55 excluding charges and credits and gained 11.0%, the largest move on the board. $BKR beat by 31.5% at $0.64 adjusted, the widest surprise in the index, and added 5.8%. The other two service names went the other way, with $HAL down 5.5% on a 2.3% beat and $FTI down 3.9% on a 13.4% beat.
Refining and integrated results were strong and unevenly rewarded. $MPC beat by 27.1%, $PSX by 25.4%, $VLO by 23.8%, and $DINO by 18.3% at $5.31 adjusted. $OXY topped that group at 29.8%. $EOG cleared its estimate and still fell 6.5%.
The five misses were $OVV (-10.5%), $DTM (-4.8%), $LNG (-4.3%), $EQT (-3.3%), and $XOM (-3.0%). $EQT missed and rose 8.5% anyway. $XOM and $CVX together carry 29.6% of the index and split, with $CVX up 2.4% on a beat and $XOM down 1.0% on a miss.
Full scorecard below.