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Murphy Oil (MUR) to Report Q3 Earnings: What's in the Cards?

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Murphy Oil Corporation (MUR - Free Report) is set to report third-quarter 2018 results on Nov 7, after market close. In the last reported quarter, the company pulled off a positive earnings surprise of 2.86%.

Factors to Consider

The company expects third-quarter 2018 production in the range of 166,500-168,500 barrels of oil equivalents per day (boepd), of which 59% will be liquid. Low-cost production from North American onshore operations will continue to boost the company’s performance.

Murphy’s diverse portfolio of high-quality assets and ongoing revival of oil prices will help it generate strong margins.

The Zacks Consensus Estimate for third-quarter revenues is $641 million, reflecting an increase of 28.73% year over year. Also, the consensus estimate for earnings is pegged at 36 cents, which reflects a surge of 1,300.00% year over year.

Earnings Whispers

A stock needs to have a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) to be able to beat estimates. However, Murphy Oil does not have the right combination for as elaborated below.

Earnings ESP: The company’s Earnings ESP is 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Zacks Rank:  The stock sports a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.

Murphy Oil Corporation Price and EPS Surprise

 

Murphy Oil Corporation Price and EPS Surprise | Murphy Oil Corporation Quote

 

However, we caution against stocks with a Zacks Rank #4 (Sell) or 5 (Strong Sell) going into the earnings announcement, especially when the company is seeing a negative estimate revision momentum.

Stocks to Consider

Here are a few players in the same sector that have the right combination of elements to post an earnings beat this quarter.

Denbury Resources Inc has an Earnings ESP of +10.15% and a Zacks Rank #3. It is slated to report third-quarter 2018 results on Nov 6.

Energy Transfer Equity, L.P. (ET - Free Report) has an Earnings ESP of +2.99% and a Zacks Rank #3. It is slated to report third-quarter 2018 results on Nov 6.

Noble Energy Inc. has an Earnings ESP of +6.59% and a Zacks Rank #3. It is slated to report third-quarter 2018 results on Nov 1.

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