Q2 2024 EPS Estimates for Murphy Oil Co. (NYSE:MUR) Lowered by Analyst

Murphy Oil Co. (NYSE:MUR) – Research analysts at Roth Capital reduced their Q2 2024 earnings estimates for Murphy Oil in a research note issued to investors on Thursday, May 2nd. Roth Capital analyst L. Mariani now forecasts that the oil and gas producer will post earnings per share of $0.95 for the quarter, down from their prior forecast of $1.09. The consensus estimate for Murphy Oil’s current full-year earnings is $4.64 per share. Roth Capital also issued estimates for Murphy Oil’s FY2024 earnings at $4.80 EPS, Q1 2025 earnings at $1.51 EPS, Q2 2025 earnings at $1.29 EPS, Q3 2025 earnings at $1.56 EPS, Q4 2025 earnings at $1.79 EPS and FY2025 earnings at $6.13 EPS.

Several other equities research analysts have also recently weighed in on MUR. Scotiabank cut Murphy Oil from a “sector outperform” rating to a “sector perform” rating and upped their price target for the company from $46.00 to $50.00 in a research report on Thursday, April 11th. Barclays began coverage on shares of Murphy Oil in a research note on Wednesday, April 10th. They issued an “equal weight” rating and a $54.00 target price on the stock. Roth Mkm restated a “buy” rating on shares of Murphy Oil in a research report on Wednesday, March 20th. Mizuho lifted their price objective on Murphy Oil from $53.00 to $55.00 and gave the company a “buy” rating in a research note on Monday, April 15th. Finally, Piper Sandler boosted their target price on Murphy Oil from $49.00 to $55.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $50.64.

Murphy Oil Stock Performance

NYSE:MUR opened at $44.48 on Monday. Murphy Oil has a 52-week low of $32.80 and a 52-week high of $49.14. The business’s fifty day moving average is $44.57 and its 200 day moving average is $42.59. 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 cap of $6.79 billion, a price-to-earnings ratio of 12.39 and a beta of 2.22.

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Cambridge Investment Research Advisors Inc. boosted its position in Murphy Oil by 29.5% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 8,445 shares of the oil and gas producer’s stock valued at $383,000 after acquiring an additional 1,924 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in shares of Murphy Oil by 1.0% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 22,125 shares of the oil and gas producer’s stock valued at $1,003,000 after purchasing an additional 223 shares in the last quarter. Independent Advisor Alliance purchased a new stake in Murphy Oil in the third quarter worth $534,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Murphy Oil by 20.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 32,014 shares of the oil and gas producer’s stock worth $1,452,000 after purchasing an additional 5,381 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in Murphy Oil by 5.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 68,524 shares of the oil and gas producer’s stock valued at $3,108,000 after buying an additional 3,304 shares during the period. Hedge funds and other institutional investors own 78.31% of the company’s stock.

Insider Buying and Selling at Murphy Oil

In other news, CEO Roger W. Jenkins sold 110,000 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $40.39, for a total value of $4,442,900.00. Following the completion of the sale, the chief executive officer now owns 1,035,190 shares of the company’s stock, valued at approximately $41,811,324.10. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Murphy Oil 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 sale, the vice president now owns 9,504 shares of the company’s stock, valued at approximately $379,589.76. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Roger W. Jenkins sold 110,000 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $40.39, for a total transaction of $4,442,900.00. Following the transaction, the chief executive officer now directly owns 1,035,190 shares of the company’s stock, valued at $41,811,324.10. The disclosure for this sale can be found here. Insiders sold a total of 156,260 shares of company stock worth $6,322,644 over the last three months. Company insiders own 5.95% of the company’s stock.

Murphy Oil Announces Dividend

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 paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend is Friday, May 17th. Murphy Oil’s dividend 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.