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Murphy Oil (MUR) to Report Q1 Earnings: What's in Store?

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Murphy Oil Corporation (MUR - Free Report) is slated to report first-quarter 2022 financial results on May 4 before market open. The company delivered a negative earnings surprise of 11.1% in the last reported quarter.

Let’s discuss the factors that are likely to be reflected in the impending quarterly results.

Factors to Consider

Murphy Oil’s efforts to improve production levels are likely to enhance the upcoming results. Strong production volumes from the Eagle Ford Shale and the Gulf of Mexico region are likely to have boosted the first-quarter performance. Also, MUR’s first-quarter performance is likely to have gained from the recovery in commodity prices.

Murphy Oil’s debt-reduction initiatives are expected to have lowered capital servicing expenses, thus boosting margins.

Expectations

The Zacks Consensus Estimate for first-quarter 2022 sales is pegged at $603.4 million, indicating a surge of 58.8% from the year-ago reported figure. The consensus estimate for first-quarter earnings per share (EPS) is pegged at 59 cents per share, implying an improvement of 883.3% from the year-ago reported figure.

The Zacks Consensus Estimate for first-quarter net crude oil and condensate production volumes was 79,000 barrels per day.

For the first quarter of 2022, Murphy Oil expects net production in the 136-142 thousand barrels of oil equivalent per day range.

What Our Quantitative Model Predicts

Our proven model does not conclusively predict an earnings beat for Murphy Oil this time. 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, which is not the case here.

Murphy Oil Corporation Price and EPS Surprise

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: MUR currently sports a Zacks Rank #1. 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 sector who have the right combination of elements to beat earnings in this reporting cycle.

Enterprise Products Partners (EPD - Free Report) is likely to come up with an earnings beat when it reports first-quarter results on May 2 before market open. Enterprise Products Partners has an Earnings ESP of +0.92% and carries a Zacks Rank of #3 at present. The Zacks Consensus Estimate for 2022 EPS has improved by 8.1% year over year.

ONEOK Inc. (OKE - Free Report) is likely to come up with an earnings beat when it reports first-quarter results on May 3 after market close. ONEOK has an Earnings ESP of +0.52% and carries a Zacks Rank of #2 at present. The Zacks Consensus Estimate for 2022 EPS has improved by 14.3% year over year.

Plains All American Pipeline (PAA - Free Report) is likely to come up with an earnings beat when it reports first-quarter results on May 4 after market close. Plains All American Pipeline has an Earnings ESP of +13.16% and carries a Zacks Rank of #3 at present. The Zacks Consensus Estimate for 2022 EPS has improved by 10.5% year over year.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

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