EOG Resources, Inc. EOG is set to report second-quarter 2020 results on Aug 6, after the closing bell.In the last-reported quarter, the leading upstream energy company reported a profit of 55 cents per share, missing the Zacks Consensus Estimate of 73 cents owing to a drop in commodity price realizations and higher operating costs. Notably, the company missed the Zacks Consensus Estimate for the bottom line in three of the prior four quarters, the average negative earnings surprise being 2.7%. This is depicted in the graph below:EOG Resources, Inc. Price and EPS Surprise EOG Resources, Inc. price-eps-surprise | EOG Resources, Inc. QuoteLet’s see how things have shaped up prior to the announcement.Trend in Estimate RevisionThe Zacks Consensus Estimate for second-quarter loss of 14 cents per share has seen three upward revisions and five downward movements in the past 30 days. The figure suggests a year-over-year decline of 110.7%.Further, the Zacks Consensus Estimate for revenues is pegged at almost $2.3 billion for the quarter, indicating a decline of 50.6% from the year-ago reported figure.What Does the Zacks Model SayOur proven model predicts an earnings beat for EOG Resources this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. You can see the complete list of today’s Zacks #1 Rank stocks here.Earnings ESP: Earnings ESP represents the difference between the Most Accurate Estimate and the Zacks Consensus Estimate. EOG Resources has an Earnings ESP of +21.99%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.Zacks Rank: The company currently carries a Zacks Rank #2.Factors to ConsiderSince April-end, the price of West Texas Intermediate (WTI) crude has improved more than 239% through the June quarter owing to partial recovery in fuel demand with the easing of lockdown measures. The recovered commodity pricing scenario is likely to have lent some support to the company’s upstream businesses.However, relatively weaker oil prices as compared to the prior-year quarter are likely to have given little incentive to upstream majors to increase oil production volumes, with EOG Resources unlikely to have been an exception. Notably, for EOG Resources’ total production volumes, the consensus estimate is pegged at 54 million barrels of oil equivalent (MMBoE), suggesting a decline from 74 MMBoE in the year-ago quarter.Other Stocks to ConsiderInvestors can also consider the following players from the energy space that have the right combination of elements to post an earnings beat in the to-be-reported quarter:Canadian Natural Resources Limited CNQ has an Earnings ESP of +6.48% and is a Zacks #3 Ranked player. The company is scheduled to release second-quarter results on Aug 6. You can see the complete list of today’s Zacks #1 Rank stocks here.Cimarex Energy Co. XEC has an Earnings ESP of +1.90% and a Zacks Rank of 2. It is scheduled to report second-quarter results on Aug 5.Bonanza Creek Energy, Inc. BCEI has an Earnings ESP of +13.66% and holds a Zacks Rank #2. It is set to report second-quarter results on Aug 6.Biggest Tech Breakthrough in a GenerationBe among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.See 8 breakthrough stocks now>>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report EOG Resources, Inc. (EOG): Free Stock Analysis Report Cimarex Energy Co (XEC): Free Stock Analysis Report Canadian Natural Resources Limited (CNQ): Free Stock Analysis Report Bonanza Creek Energy, Inc. (BCEI): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research