Murphy Oil Corporation (NYSE:MUR) is set to release first-quarter and 2019 results on May 2. In the last reported quarter, the company delivered positive earnings surprise of 19.23%.
Let’s see how things are holding up prior to the announcement.
Factors to Consider
Murphy Oil expects oil production growth to drive up total production by nearly 20% from year-ago quarter's levels and projects first-quarter 2019 production in the range of 198,000-202,000 barrels of oil equivalent per day (boe/d). Out of the total production nearly 66% is expected to be liquids, which reflects on the company’s focus on oil-weighted assets.
We expect the company’s low-cost innovative offshore projects in Malaysia and the Gulf of Mexico to begin production and boost first-quarter results.
Earnings Whispers
A stock needs to have a positive Earnings ESP (which represents the difference between the Most Accurate Estimate and the Zacks Consensus Estimate) and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) to beat estimates. Murphy Oil does not have the right combination 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.
Meanwhile, we caution against stocks with a Zacks Rank #4 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 industry that have the right combination of elements to post earnings beat this quarter.
WPX Energy Inc (NYSE:WPX) is expected to release first-quarter 2019 results on May 1. It has an Earnings ESP of +8.73% and a Zacks Rank #3.
Apache Corporation (NYSE:APA) is scheduled to announce first-quarter 2019 results on May 1. It has an Earnings ESP of +12.55% and a Zacks Rank #2.
Cimarex Energy Co. (NYSE:XEC) has an Earnings ESP of +1.95% and a Zacks Rank #2. It is scheduled to report first-quarter 2019 results on May 8.
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Apache Corporation (APA): Free Stock Analysis Report
WPX Energy, Inc. (WPX): Free Stock Analysis Report
Cimarex Energy Co (XEC): Free Stock Analysis Report
Murphy Oil Corporation (MUR): Free Stock Analysis Report
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