Q1 2024 EPS Estimates for Murphy Oil Co. Cut by Zacks Research (NYSE:MUR)

Murphy Oil Co. (NYSE:MUR) – Equities researchers at Zacks Research reduced their Q1 2024 EPS estimates for shares of Murphy Oil in a research report issued on Friday, April 26th. Zacks Research analyst J. Saha now expects that the oil and gas producer will post earnings of $0.92 per share for the quarter, down from their previous forecast of $0.95. The consensus estimate for Murphy Oil’s current full-year earnings is $4.74 per share. Zacks Research also issued estimates for Murphy Oil’s Q2 2024 earnings at $1.00 EPS, Q3 2024 earnings at $1.24 EPS, Q4 2024 earnings at $1.37 EPS, FY2024 earnings at $4.52 EPS, Q1 2025 earnings at $1.29 EPS, Q2 2025 earnings at $1.37 EPS, Q3 2025 earnings at $1.66 EPS, Q4 2025 earnings at $1.48 EPS, FY2025 earnings at $5.80 EPS, Q1 2026 earnings at $1.54 EPS and FY2026 earnings at $6.97 EPS.

MUR has been the topic of a number of other research reports. KeyCorp raised their price target on Murphy Oil from $50.00 to $54.00 and gave the stock an “overweight” rating in a research report on Monday, April 22nd. Truist Financial raised their target price on shares of Murphy Oil from $58.00 to $59.00 and gave the stock a “buy” rating in a report on Friday, April 5th. JPMorgan Chase & Co. upped their price target on shares of Murphy Oil from $51.00 to $52.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. Barclays began coverage on shares of Murphy Oil in a research report on Wednesday, April 10th. They set an “equal weight” rating and a $54.00 price objective for the company. Finally, Piper Sandler boosted their price objective on shares of Murphy Oil from $49.00 to $55.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $50.64.

Murphy Oil Stock Performance

Shares of Murphy Oil stock opened at $46.83 on Monday. Murphy Oil has a 12 month low of $32.80 and a 12 month high of $49.14. The company has a current ratio of 0.89, a quick ratio of 0.82 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $7.14 billion, a PE ratio of 11.10 and a beta of 2.21. The stock’s fifty day simple moving average is $43.92 and its 200 day simple moving average is $42.68.

Institutional Investors Weigh In On Murphy Oil

Hedge funds have recently bought and sold shares of the company. Rise Advisors LLC bought a new stake in Murphy Oil in the first quarter valued at approximately $30,000. Bruce G. Allen Investments LLC acquired a new position in shares of Murphy Oil during the 4th quarter worth approximately $29,000. Lindbrook Capital LLC raised its stake in Murphy Oil by 47.7% in the 1st quarter. Lindbrook Capital LLC now owns 721 shares of the oil and gas producer’s stock valued at $33,000 after acquiring an additional 233 shares during the period. Headinvest LLC acquired a new stake in Murphy Oil during the 3rd quarter valued at $70,000. Finally, Benjamin F. Edwards & Company Inc. boosted its position in Murphy Oil by 27.0% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 2,105 shares of the oil and gas producer’s stock worth $96,000 after purchasing an additional 447 shares during the period. 78.31% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Murphy Oil

In related news, VP Louis W. Utsch sold 30,260 shares of Murphy Oil stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $39.94, for a total value of $1,208,584.40. Following the sale, the vice president now owns 9,504 shares of the company’s stock, valued at $379,589.76. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, VP Louis W. Utsch sold 30,260 shares of the firm’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $39.94, for a total value of $1,208,584.40. Following the completion of the transaction, the vice president now directly owns 9,504 shares of the company’s stock, valued at $379,589.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Maria A. Martinez sold 10,000 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $43.35, for a total transaction of $433,500.00. Following the sale, the vice president now directly owns 40,590 shares in the company, valued at $1,759,576.50. The disclosure for this sale can be found here. Insiders sold a total of 156,260 shares of company stock worth $6,322,644 in the last three months. Insiders own 5.95% of the company’s stock.

Murphy Oil Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 20th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, May 17th. This represents a $1.20 annualized dividend and a yield of 2.56%. Murphy Oil’s dividend payout ratio (DPR) is presently 28.44%.

Murphy Oil Company Profile

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.