Q3 EPS Estimates for Murphy Oil Lowered by Analyst

Murphy Oil Co. (NYSE:MUR) – Stock analysts at Capital One Financial reduced their Q3 2024 EPS estimates for Murphy Oil in a research report issued on Wednesday, October 16th. Capital One Financial analyst B. Velie now forecasts that the oil and gas producer will post earnings per share of $0.66 for the quarter, down from their previous forecast of $0.73. The consensus estimate for Murphy Oil’s current full-year earnings is $3.47 per share. Capital One Financial also issued estimates for Murphy Oil’s FY2024 earnings at $3.34 EPS.

A number of other brokerages also recently weighed in on MUR. Wolfe Research initiated coverage on shares of Murphy Oil in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. BMO Capital Markets cut their target price on shares of Murphy Oil from $42.00 to $40.00 and set a “market perform” rating for the company in a research note on Friday, October 4th. Barclays decreased their price target on shares of Murphy Oil from $46.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 3rd. Scotiabank cut their price objective on Murphy Oil from $47.00 to $36.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. Finally, UBS Group decreased their target price on Murphy Oil from $45.00 to $39.00 and set a “neutral” rating on the stock in a report on Wednesday, September 18th. Ten equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Murphy Oil presently has a consensus rating of “Hold” and an average target price of $41.17.

Murphy Oil Trading Up 1.2 %

Shares of MUR stock opened at $33.14 on Friday. The stock has a 50-day simple moving average of $35.67 and a 200 day simple moving average of $40.10. The stock has a market capitalization of $5.06 billion, a P/E ratio of 9.23 and a beta of 2.20. Murphy Oil has a fifty-two week low of $32.53 and a fifty-two week high of $49.14. The company has a quick ratio of 0.76, a current ratio of 0.82 and a debt-to-equity ratio of 0.23.

Murphy Oil (NYSE:MUR) last released its earnings results on Thursday, August 8th. The oil and gas producer reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.08. Murphy Oil had a return on equity of 11.68% and a net margin of 17.32%. The firm had revenue of $802.80 million during the quarter, compared to the consensus estimate of $813.97 million. During the same period in the prior year, the firm posted $0.79 earnings per share. The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year.

Hedge Funds Weigh In On Murphy Oil

Several institutional investors and hedge funds have recently bought and sold shares of the business. Compass Wealth Management LLC acquired a new stake in shares of Murphy Oil during the third quarter worth approximately $42,000. nVerses Capital LLC purchased a new stake in Murphy Oil in the 3rd quarter worth approximately $354,000. Creative Planning lifted its position in Murphy Oil by 11.2% in the 3rd quarter. Creative Planning now owns 41,014 shares of the oil and gas producer’s stock worth $1,384,000 after buying an additional 4,122 shares in the last quarter. Wedge Capital Management L L P NC boosted its stake in shares of Murphy Oil by 641.7% during the 3rd quarter. Wedge Capital Management L L P NC now owns 672,717 shares of the oil and gas producer’s stock valued at $22,697,000 after buying an additional 582,020 shares during the period. Finally, Willis Investment Counsel grew its holdings in shares of Murphy Oil by 1.0% during the 3rd quarter. Willis Investment Counsel now owns 245,099 shares of the oil and gas producer’s stock valued at $8,270,000 after acquiring an additional 2,438 shares in the last quarter. Hedge funds and other institutional investors own 78.31% of the company’s stock.

Murphy Oil Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.20 dividend on an annualized basis and a yield of 3.62%. Murphy Oil’s payout ratio is presently 33.43%.

About Murphy Oil

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.