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What's in the Cards for Murphy Oil (MUR) in Q1 Earnings?
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Murphy Oil Corporation (MUR - Free Report) is slated to report first-quarter 2021 financial results on May 6, before the opening bell. The company has a trailing four-quarter earnings surprise of 19.43%, on average.
Let’s discuss the factors that are likely to reflect on the impending quarterly results.
Factors to Consider
Many wells of the company started production in the to-be-reported quarter, which is likely to leave a positive impact on its upcoming results. Moreover, to safeguard its interest against the current volatility in the market, it well-hedged its portfolio.
However, during the quarter, Murphy Oil voluntarily stopped production as a measure to withstand the winter storms. Reduced production volumes might adversely impact its upcoming earnings report.
Expectations
The Zacks Consensus Estimate for first-quarter 2021 sales is pegged at $461.43 million, indicating a decline of 23.49% from the year-ago quarter’s reported figure. The consensus estimate for first-quarter loss is pegged at 16 cents per share, implying a 46.67% improvement from the prior-year period’s reported loss.
The company expects first-quarter total crude oil production in the band of 149-157 thousand barrels of oil equivalents per day.
What Our Quantitative Model Predicts
Our proven model does not conclusively predict an earnings beat for Murphy Oil 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 beating estimates. But that is not the case here as you see below.
Earnings ESP: Murphy Oil has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Investors can consider the following players from the same industry that have the right combination of elements to beat on earnings this reporting cycle.
Centennial Resource Development, Inc. is set to release first-quarter 2021 results on May 4. It has an Earnings ESP of +21.88% and a Zacks Rank of 3, presently.
Comstock Resources, Inc. (CRK - Free Report) is set to release first-quarter 2021 results on May 4. It has an Earnings ESP of +6.34% and a Zacks Rank of 3, presently.
Evolution Petroleum Corporation, Inc. (EPM - Free Report) is set to release third-quarter fiscal 2021 results on May 10. It has an Earnings ESP of +42.86% and is currently a #3 Ranked player.
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What's in the Cards for Murphy Oil (MUR) in Q1 Earnings?
Murphy Oil Corporation (MUR - Free Report) is slated to report first-quarter 2021 financial results on May 6, before the opening bell. The company has a trailing four-quarter earnings surprise of 19.43%, on average.
Let’s discuss the factors that are likely to reflect on the impending quarterly results.
Factors to Consider
Many wells of the company started production in the to-be-reported quarter, which is likely to leave a positive impact on its upcoming results. Moreover, to safeguard its interest against the current volatility in the market, it well-hedged its portfolio.
However, during the quarter, Murphy Oil voluntarily stopped production as a measure to withstand the winter storms. Reduced production volumes might adversely impact its upcoming earnings report.
Expectations
The Zacks Consensus Estimate for first-quarter 2021 sales is pegged at $461.43 million, indicating a decline of 23.49% from the year-ago quarter’s reported figure. The consensus estimate for first-quarter loss is pegged at 16 cents per share, implying a 46.67% improvement from the prior-year period’s reported loss.
The company expects first-quarter total crude oil production in the band of 149-157 thousand barrels of oil equivalents per day.
What Our Quantitative Model Predicts
Our proven model does not conclusively predict an earnings beat for Murphy Oil 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 beating estimates. But that is not the case here as you see below.
Murphy Oil Corporation Price and EPS Surprise
Murphy Oil Corporation price-eps-surprise | Murphy Oil Corporation Quote
Earnings ESP: Murphy Oil has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Murphy Oil currently has a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Stocks to Consider
Investors can consider the following players from the same industry that have the right combination of elements to beat on earnings this reporting cycle.
Centennial Resource Development, Inc. is set to release first-quarter 2021 results on May 4. It has an Earnings ESP of +21.88% and a Zacks Rank of 3, presently.
Comstock Resources, Inc. (CRK - Free Report) is set to release first-quarter 2021 results on May 4. It has an Earnings ESP of +6.34% and a Zacks Rank of 3, presently.
Evolution Petroleum Corporation, Inc. (EPM - Free Report) is set to release third-quarter fiscal 2021 results on May 10. It has an Earnings ESP of +42.86% and is currently a #3 Ranked player.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.
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