We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
What's in the Cards for Murphy Oil (MUR) in Q2 Earnings?
Read MoreHide Full Article
Murphy Oil Corporation (MUR - Free Report) is slated to report second-quarter financial results on Aug 6, before the opening bell. The company has a trailing four-quarter earnings surprise of 31.98%, on average.
Let’s discuss the factors that are likely to get reflected in the upcoming quarterly results.
Factors to Consider
The outbreak of the novel coronavirus caused an unprecedented economic distress, which in turn, induced a sharp decline in demand and crude oil prices. To counter this, Murphy Oil undertook various cost-saving initiatives to preserve liquidity and cash flow duringthe pandemic.
The company also hedged a portion of its expected second-quarter production to safeguard its interest against the falling prices. Despite such initiatives, its June-quarter earnings performance is likely to have been adversely impacted by the current market volatility.
Q2 Expectations
The Zacks Consensus Estimate for second-quarter 2020 sales is pegged at $385.7 million, indicating a decline of 45.60% from the year-ago quarter’s reported figure. The consensus estimate for second-quarter loss of $1.05 per share implies a 600% plunge from the prior-year quarter’s reported number.
The consensus mark for the company’s second-quarter total crude oil production is pinned at 106.14 thousand barrels of oil per day (MBOPD).
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 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 thefollowing players from the same industry, which according to our model, have the right combination of elements to beat on earnings this reporting cycle.
Cimarex Energy Co is slated to release second-quarter 2020 numbers on Aug 5. It has an Earnings ESP of +1.90% and a Zacks Rank of 2, currently.
Bonanza Creek Energy, Inc. is expected to release second-quarter 2020 numbers on Aug 6. It has an Earnings ESP of +13.66% and a Zacks Rank of 1 at present.
EOG Resources, Inc. (EOG - Free Report) is set to release second-quarter earnings on Aug 7. It has an Earnings ESP of +2.48% and a Zacks Rank #2, presently.
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.
Image: Bigstock
What's in the Cards for Murphy Oil (MUR) in Q2 Earnings?
Murphy Oil Corporation (MUR - Free Report) is slated to report second-quarter financial results on Aug 6, before the opening bell. The company has a trailing four-quarter earnings surprise of 31.98%, on average.
Let’s discuss the factors that are likely to get reflected in the upcoming quarterly results.
Factors to Consider
The outbreak of the novel coronavirus caused an unprecedented economic distress, which in turn, induced a sharp decline in demand and crude oil prices. To counter this, Murphy Oil undertook various cost-saving initiatives to preserve liquidity and cash flow duringthe pandemic.
The company also hedged a portion of its expected second-quarter production to safeguard its interest against the falling prices. Despite such initiatives, its June-quarter earnings performance is likely to have been adversely impacted by the current market volatility.
Q2 Expectations
The Zacks Consensus Estimate for second-quarter 2020 sales is pegged at $385.7 million, indicating a decline of 45.60% from the year-ago quarter’s reported figure. The consensus estimate for second-quarter loss of $1.05 per share implies a 600% plunge from the prior-year quarter’s reported number.
The consensus mark for the company’s second-quarter total crude oil production is pinned at 106.14 thousand barrels of oil per day (MBOPD).
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 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 thefollowing players from the same industry, which according to our model, have the right combination of elements to beat on earnings this reporting cycle.
Cimarex Energy Co is slated to release second-quarter 2020 numbers on Aug 5. It has an Earnings ESP of +1.90% and a Zacks Rank of 2, currently.
Bonanza Creek Energy, Inc. is expected to release second-quarter 2020 numbers on Aug 6. It has an Earnings ESP of +13.66% and a Zacks Rank of 1 at present.
EOG Resources, Inc. (EOG - Free Report) is set to release second-quarter earnings on Aug 7. It has an Earnings ESP of +2.48% and a Zacks Rank #2, presently.
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.
See these 7 breakthrough stocks now>>