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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 financial results on May 7, before the opening bell. The company has a trailing four-quarter positive earnings surprise of 40.91%, on average.
Let’s discuss the factors that are likely to get reflected in the upcoming quarterly results.
Factor to Consider
The outbreak of the coronavirus during the first quarter caused unprecedented economic distress. This led to decline in demand for crude oil and prices. In spite of measures undertaken by the company, its first-quarter performance is likely to have been affected by the current market condition.
The Zacks Consensus Estimate for first-quarter 2020 sales is pegged at $598.27 million, which indicates a rise of 1.23% from the year-ago quarter’s figure. The Zacks Consensus Estimate for first-quarter loss of 35 cents per share calls for year-over-year decline of 333.33%.
What Our Quantitative Model Predicts
Our proven model does not 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 odds of an earnings beat. But that’s not the case here.
Earnings ESP: The company’s Earnings ESP is -14.88%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Investors can consider other following players from the same sector that also have the right combination of elements to post an earnings beat this time around.
Devon Energy Corporation (DVN - Free Report) is slated to release first-quarter 2020 numbers on May 5. It has an Earnings ESP of +6.38% and carries a Zacks Rank 3.
Oasis Midstream Partners LP is expected to release first-quarter 2020 numbers on May 5. It has an Earnings ESP of +6.21% and carries a Zacks Rank #3.
Talos Energy Inc. (TALO - Free Report) is set to release first-quarter earnings on May 6. It has an Earnings ESP of +25.00% and carries a Zacks Rank #3.
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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 financial results on May 7, before the opening bell. The company has a trailing four-quarter positive earnings surprise of 40.91%, on average.
Let’s discuss the factors that are likely to get reflected in the upcoming quarterly results.
Factor to Consider
The outbreak of the coronavirus during the first quarter caused unprecedented economic distress. This led to decline in demand for crude oil and prices. In spite of measures undertaken by the company, its first-quarter performance is likely to have been affected by the current market condition.
Murphy Oil Corporation Price and EPS Surprise
Murphy Oil Corporation price-eps-surprise | Murphy Oil Corporation Quote
Q1 Expectations
The Zacks Consensus Estimate for first-quarter 2020 sales is pegged at $598.27 million, which indicates a rise of 1.23% from the year-ago quarter’s figure. The Zacks Consensus Estimate for first-quarter loss of 35 cents per share calls for year-over-year decline of 333.33%.
What Our Quantitative Model Predicts
Our proven model does not 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 odds of an earnings beat. But that’s not the case here.
Earnings ESP: The company’s Earnings ESP is -14.88%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Murphy Oil has a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Stocks With Favorable Combination
Investors can consider other following players from the same sector that also have the right combination of elements to post an earnings beat this time around.
Devon Energy Corporation (DVN - Free Report) is slated to release first-quarter 2020 numbers on May 5. It has an Earnings ESP of +6.38% and carries a Zacks Rank 3.
Oasis Midstream Partners LP is expected to release first-quarter 2020 numbers on May 5. It has an Earnings ESP of +6.21% and carries a Zacks Rank #3.
Talos Energy Inc. (TALO - Free Report) is set to release first-quarter earnings on May 6. It has an Earnings ESP of +25.00% and carries a Zacks Rank #3.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>