EOG Resources (NYSE: EOG) is expected to report Q2 earnings around Aug. 2. Here's what Wall Street wants to see:

The 10-second takeaway
Comparing the upcoming quarter to the prior-year quarter, average analyst estimates predict EOG Resources' revenues will drop -6.7% and EPS will shrink -15.3%.

The average estimate for revenue is $2.40 billion. On the bottom line, the average EPS estimate is $0.94.

Revenue details
Last quarter, EOG Resources chalked up revenue of $2.81 billion. GAAP reported sales were 38% higher than the prior-year quarter's $1.89 billion.

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Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
Last quarter, non-GAAP EPS came in at $1.17. GAAP EPS of $1.20 for Q1 were 131% higher than the prior-year quarter's $0.52 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Recent performance
For the preceding quarter, gross margin was 56.8%, 530 basis points worse than the prior-year quarter. Operating margin was 18.9%, 830 basis points better than the prior-year quarter. Net margin was 12.4%, 530 basis points better than the prior-year quarter.

Looking ahead
The full year's average estimate for revenue is $10.67 billion. The average EPS estimate is $4.34.

Investor sentiment
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 848 members out of 882 rating the stock outperform, and 34 members rating it underperform. Among 214 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 204 give EOG Resources a green thumbs-up, and 10 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on EOG Resources is outperform, with an average price target of $128.52.

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