Capital One Financial Research Analysts Cut Earnings Estimates for Murphy Oil Co. (NYSE:MUR)

Murphy Oil Co. (NYSE:MURFree Report) – Equities researchers at Capital One Financial dropped their Q3 2024 EPS estimates for shares of Murphy Oil in a note issued to investors on Monday, June 17th. Capital One Financial analyst B. Velie now expects that the oil and gas producer will post earnings of $1.23 per share for the quarter, down from their previous forecast of $1.28. The consensus estimate for Murphy Oil’s current full-year earnings is $4.22 per share. Capital One Financial also issued estimates for Murphy Oil’s FY2024 earnings at $4.04 EPS.

Other analysts also recently issued reports about the stock. StockNews.com downgraded shares of Murphy Oil from a “buy” rating to a “hold” rating in a research report on Tuesday. Truist Financial lifted their target price on shares of Murphy Oil from $58.00 to $59.00 and gave the stock a “buy” rating in a research report on Friday, April 5th. Piper Sandler increased their price target on shares of Murphy Oil from $49.00 to $55.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. Barclays began coverage on shares of Murphy Oil in a report on Wednesday, April 10th. They set an “equal weight” rating and a $54.00 price objective for the company. Finally, JPMorgan Chase & Co. upped their price objective on shares of Murphy Oil from $51.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Murphy Oil has an average rating of “Moderate Buy” and a consensus price target of $51.00.

View Our Latest Research Report on Murphy Oil

Murphy Oil Trading Up 0.3 %

NYSE MUR opened at $38.85 on Tuesday. Murphy Oil has a one year low of $36.34 and a one year high of $49.14. The company has a 50-day simple moving average of $43.16 and a 200-day simple moving average of $42.09. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.87 and a current ratio of 0.93. The firm has a market capitalization of $5.93 billion, a PE ratio of 10.82 and a beta of 2.21.

Murphy Oil (NYSE:MURGet Free Report) last announced its quarterly earnings data on Thursday, May 2nd. The oil and gas producer reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.03. Murphy Oil had a net margin of 16.40% and a return on equity of 11.75%. The company had revenue of $794.80 million during the quarter, compared to analyst estimates of $750.94 million. During the same period last year, the business earned $1.24 EPS. The firm’s revenue for the quarter was down 5.4% compared to the same quarter last year.

Institutional Investors Weigh In On Murphy Oil

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cetera Investment Advisers acquired a new stake in shares of Murphy Oil during the 1st quarter worth approximately $1,700,000. Atria Investments Inc acquired a new stake in shares of Murphy Oil during the 1st quarter worth approximately $1,859,000. EMC Capital Management grew its position in shares of Murphy Oil by 166.1% during the 1st quarter. EMC Capital Management now owns 8,008 shares of the oil and gas producer’s stock worth $366,000 after buying an additional 4,999 shares during the period. Tidal Investments LLC grew its position in shares of Murphy Oil by 11.1% during the 1st quarter. Tidal Investments LLC now owns 22,872 shares of the oil and gas producer’s stock worth $1,045,000 after buying an additional 2,289 shares during the period. Finally, Caxton Associates LP bought a new position in Murphy Oil during the 1st quarter worth approximately $237,000. Institutional investors and hedge funds own 78.31% of the company’s stock.

Murphy Oil Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 20th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.09%. The ex-dividend date was Friday, May 17th. Murphy Oil’s payout ratio is presently 33.43%.

Murphy Oil Company Profile

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Murphy Oil Corporation, together with its subsidiaries, operates as an oil and gas exploration and production company in the United States, Canada, and internationally. It explores for and produces crude oil, natural gas, and natural gas liquids. The company was formerly known as Murphy Corporation and changed its name to Murphy Oil Corporation in 1964.

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Earnings History and Estimates for Murphy Oil (NYSE:MUR)

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