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Are You a Momentum Investor? This 1 Stock Could Be the Perfect Pick

It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors.

Many investors also have a go-to methodology that helps guide their buy and sell decisions. One way to find winning stocks based on your preferred way of investing is to use the Zacks Style Scores, which are indicators that rate stocks based on three widely-followed investing types: value, growth, and momentum.

Is This 1 Momentum Stock a Screaming Buy Right Now?

Momentum investors, who live by the saying "the trend is your friend," are most interested in taking advantage of upward or downward trends in a stock's price or earnings outlook. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy high-momentum stocks.

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Murphy Oil (MUR)

Houston, TX-based Murphy Oil Corporation was founded in 1950. The company is a global oil and gas exploration and production company. The company explores and produces crude oil, natural gas and natural gas liquids (NGL) worldwide. Previously, it had refining and marketing operations in both the U.S. and the UK. The company is currently transforming itself into an organization primarily engaged in oil and gas exploration and production (E&P) activities from an integrated oil company.

MUR boasts a Momentum Style Score of A and VGM Score of A, and holds a Zacks Rank #3 (Hold) rating. Shares of Murphy Oil has seen some interesting price action recently; the stock is up 2.1% over the past one week and up 13.7% over the past four weeks. And in the last one-year period, MUR has gained 21.3%. As for the stock's trading volume, 1,592,950.50 shares on average were traded over the last 20 days.

Momentum investors don't just pay attention to price changes; positive earnings play a crucial role, too. Five analysts revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0.44 to $4.69 per share. MUR boasts an average earnings surprise of 10%.

With strong earnings growth, a good Zacks Rank, and top-tier Momentum and VGM Style Scores, investors should think about adding MUR to their portfolios.

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Murphy Oil Corporation (MUR) : Free Stock Analysis Report

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Zacks Investment Research