Brokers Issue Forecasts for Murphy Oil Co.’s Q3 2024 Earnings (NYSE:MUR)

Murphy Oil Co. (NYSE:MURFree Report) – Stock analysts at Zacks Research dropped their Q3 2024 EPS estimates for Murphy Oil in a note issued to investors on Thursday, February 8th. Zacks Research analyst J. Saha now forecasts that the oil and gas producer will earn $1.13 per share for the quarter, down from their prior estimate of $1.28. The consensus estimate for Murphy Oil’s current full-year earnings is $4.36 per share. Zacks Research also issued estimates for Murphy Oil’s Q4 2024 earnings at $1.26 EPS, Q1 2025 earnings at $1.18 EPS, Q2 2025 earnings at $1.27 EPS and FY2026 earnings at $7.46 EPS.

Murphy Oil (NYSE:MURGet Free Report) last posted its earnings results on Thursday, January 25th. The oil and gas producer reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.10). Murphy Oil had a net margin of 19.12% and a return on equity of 13.02%. The business had revenue of $844.20 million for the quarter, compared to analyst estimates of $852.24 million. During the same quarter in the prior year, the firm earned $1.10 earnings per share. The company’s revenue for the quarter was down 13.4% on a year-over-year basis.

A number of other equities research analysts also recently commented on the stock. Piper Sandler lowered their price target on shares of Murphy Oil from $50.00 to $49.00 and set an “overweight” rating for the company in a report on Tuesday, January 30th. Truist Financial reaffirmed a “buy” rating and issued a $57.00 price objective on shares of Murphy Oil in a report on Tuesday, November 28th. UBS Group reduced their price objective on shares of Murphy Oil from $45.00 to $43.00 and set a “neutral” rating for the company in a research note on Monday, January 29th. Finally, KeyCorp dropped their price objective on Murphy Oil from $53.00 to $50.00 and set an “overweight” rating on the stock in a report on Thursday, January 11th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $46.90.

View Our Latest Stock Report on MUR

Murphy Oil Trading Up 2.2 %

NYSE MUR opened at $38.71 on Monday. Murphy Oil has a 12 month low of $32.80 and a 12 month high of $48.47. The company has a market capitalization of $5.98 billion, a price-to-earnings ratio of 9.17 and a beta of 2.22. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.89 and a quick ratio of 0.82. The firm’s fifty day moving average price is $40.44 and its 200 day moving average price is $43.12.

Institutional Investors Weigh In On Murphy Oil

A number of institutional investors and hedge funds have recently made changes to their positions in MUR. Bruce G. Allen Investments LLC purchased a new position in shares of Murphy Oil in the fourth quarter worth about $29,000. Financial Management Professionals Inc. boosted its stake in Murphy Oil by 7,940.0% during the 3rd quarter. Financial Management Professionals Inc. now owns 804 shares of the oil and gas producer’s stock valued at $36,000 after purchasing an additional 794 shares during the last quarter. Penserra Capital Management LLC purchased a new position in shares of Murphy Oil during the third quarter valued at approximately $40,000. Belpointe Asset Management LLC lifted its position in Murphy Oil by 68.2% during the first quarter. Belpointe Asset Management LLC now owns 900 shares of the oil and gas producer’s stock valued at $33,000 after purchasing an additional 365 shares during the period. Finally, Qube Research & Technologies Ltd purchased a new stake in Murphy Oil in the third quarter worth approximately $47,000. Institutional investors and hedge funds own 79.30% of the company’s stock.

Murphy Oil Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 4th. Investors of record on Tuesday, February 20th will be issued a $0.30 dividend. This is a positive change from Murphy Oil’s previous quarterly dividend of $0.28. The ex-dividend date is Friday, February 16th. This represents a $1.20 annualized dividend and a yield of 3.10%. Murphy Oil’s payout ratio is presently 26.07%.

Murphy Oil Company Profile

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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.

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

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