FY2022 EPS Estimates for Murphy Oil Co. Reduced by Jefferies Financial Group (NYSE:MUR)

Murphy Oil Co. (NYSE:MURGet Rating) – Research analysts at Jefferies Financial Group lowered their FY2022 earnings per share (EPS) estimates for shares of Murphy Oil in a note issued to investors on Tuesday, January 17th. Jefferies Financial Group analyst L. Byrne now forecasts that the oil and gas producer will post earnings per share of $7.17 for the year, down from their prior forecast of $7.61. Jefferies Financial Group has a “Hold” rating and a $46.00 price objective on the stock. The consensus estimate for Murphy Oil’s current full-year earnings is $5.97 per share. Jefferies Financial Group also issued estimates for Murphy Oil’s FY2023 earnings at $6.03 EPS and FY2024 earnings at $6.33 EPS.

Several other research analysts have also commented on MUR. Piper Sandler lifted their target price on Murphy Oil from $62.00 to $68.00 and gave the stock an “overweight” rating in a research report on Thursday, November 17th. The Goldman Sachs Group raised their price target on Murphy Oil from $44.00 to $50.00 and gave the stock a “neutral” rating in a report on Wednesday, November 23rd. Morgan Stanley cut their price target on Murphy Oil from $48.00 to $47.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 14th. JPMorgan Chase & Co. raised Murphy Oil from a “neutral” rating to an “overweight” rating and set a $56.00 price target on the stock in a report on Monday, December 5th. Finally, Mizuho reissued a “buy” rating and issued a $51.00 price target (down previously from $53.00) on shares of Murphy Oil in a report on Tuesday, January 10th. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $49.56.

Murphy Oil Price Performance

Shares of MUR opened at $42.12 on Friday. The firm has a market cap of $6.55 billion, a price-to-earnings ratio of 7.09 and a beta of 2.41. The stock has a 50 day moving average of $43.74 and a 200-day moving average of $40.12. The company has a current ratio of 0.78, a quick ratio of 0.74 and a debt-to-equity ratio of 0.41. Murphy Oil has a 52 week low of $25.97 and a 52 week high of $51.28.

Murphy Oil (NYSE:MURGet Rating) last issued its earnings results on Thursday, November 3rd. The oil and gas producer reported $1.84 EPS for the quarter, topping the consensus estimate of $1.56 by $0.28. The company had revenue of $1.30 billion during the quarter, compared to analyst estimates of $930.51 million. Murphy Oil had a return on equity of 17.20% and a net margin of 25.27%.

Insider Buying and Selling at Murphy Oil

In other Murphy Oil news, Director Robert Madison Murphy sold 30,000 shares of Murphy Oil stock in a transaction on Monday, October 24th. The stock was sold at an average price of $48.00, for a total transaction of $1,440,000.00. Following the sale, the director now owns 1,643,616 shares of the company’s stock, valued at approximately $78,893,568. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Roger W. Jenkins sold 150,000 shares of the business’s stock in a transaction on Friday, November 11th. The stock was sold at an average price of $50.52, for a total value of $7,578,000.00. Following the sale, the chief executive officer now owns 664,664 shares of the company’s stock, valued at approximately $33,578,825.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert Madison Murphy sold 30,000 shares of the business’s stock in a transaction on Monday, October 24th. The stock was sold at an average price of $48.00, for a total value of $1,440,000.00. Following the completion of the sale, the director now directly owns 1,643,616 shares in the company, valued at approximately $78,893,568. The disclosure for this sale can be found here. Insiders have sold 240,754 shares of company stock valued at $12,055,495 in the last quarter. Corporate insiders own 6.20% of the company’s stock.

Hedge Funds Weigh In On Murphy Oil

A number of hedge funds have recently modified their holdings of MUR. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Murphy Oil by 73.5% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 21,212 shares of the oil and gas producer’s stock worth $857,000 after acquiring an additional 8,987 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Murphy Oil by 45.2% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 15,252 shares of the oil and gas producer’s stock valued at $616,000 after buying an additional 4,749 shares in the last quarter. Cetera Advisor Networks LLC grew its holdings in shares of Murphy Oil by 22.5% during the first quarter. Cetera Advisor Networks LLC now owns 10,669 shares of the oil and gas producer’s stock valued at $431,000 after buying an additional 1,961 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of Murphy Oil by 2.2% during the first quarter. Rhumbline Advisers now owns 446,302 shares of the oil and gas producer’s stock valued at $18,026,000 after buying an additional 9,758 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of Murphy Oil by 10.5% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 53,213 shares of the oil and gas producer’s stock valued at $2,149,000 after buying an additional 5,075 shares in the last quarter. 77.55% of the stock is currently owned by institutional investors and hedge funds.

About Murphy Oil

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Murphy Oil Corporation, together with its subsidiaries, operates as an oil and natural 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.

Further Reading

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

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