Murphy Oil (MUR) is likely to beat Q4 cash flow per share estimates by $0.05, UBS said in an earnings preview emailed Thursday.
The firm said it was forecasting Q4 cash flow per share of $2.70, compared to Wall Street's $2.65.
Total production during the quarter is likely to clock in at 184,000 barrels of oil equivalent per day, or mboepd, slightly below the guidance range to account for shifts in Gulf workover timing, UBS said.
The firm is also forecasting Q4 capital expenditure of $203 million, below the estimate of $211 million as the company "embraces a more consistent Eagle Ford drilling program." For 2025, UBS is modeling around $1.2 billion in capital spend, with finances going from Gulf exploration to Hai Su Vang in Vietnam.
The firm noted that an appraisal well at Hai Su Vang will be drilled later this year and that early indications suggested the resource was at the higher end of the 170 to 430 MMboe range.
The firm reiterated neutral rating on the stock with a price target of $34.
Price: 30.35, Change: -0.51, Percent Change: -1.65
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