Equities

Equities Analysts Offer Predictions for Murphy Oil Co.’s FY2024 Earnings (NYSE:MUR)

Murphy Oil Co. (NYSE:MURGet Rating) – Investment analysts at Capital One Financial issued their FY2024 earnings estimates for Murphy Oil in a research report issued on Tuesday, October 4th. Capital One Financial analyst B. Velie expects that the oil and gas producer will earn $7.52 per share for the year. The consensus estimate for Murphy Oil’s current full-year earnings is $6.12 per share.

MUR has been the topic of several other research reports. StockNews.com cut shares of Murphy Oil from a “buy” rating to a “hold” rating in a research note on Wednesday. MKM Partners restated a “buy” rating and set a $38.00 price objective on shares of Murphy Oil in a research report on Wednesday, July 20th. The Goldman Sachs Group raised their price objective on shares of Murphy Oil from $34.00 to $38.00 and gave the company a “neutral” rating in a research report on Monday, August 22nd. Mizuho decreased their price objective on shares of Murphy Oil from $59.00 to $51.00 and set a “buy” rating on the stock in a research report on Tuesday, July 19th. Finally, Truist Financial raised their price objective on shares of Murphy Oil from $61.00 to $73.00 and gave the company a “buy” rating in a research report on Thursday, September 15th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Murphy Oil currently has a consensus rating of “Hold” and a consensus target price of $48.13.

Murphy Oil Trading Up 3.8 %

Shares of Murphy Oil stock opened at $42.85 on Thursday. The company’s fifty day simple moving average is $36.83 and its 200-day simple moving average is $36.94. The stock has a market capitalization of $6.66 billion, a PE ratio of 13.06 and a beta of 2.39. Murphy Oil has a 1-year low of $23.50 and a 1-year high of $45.79. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.66 and a quick ratio of 0.62.

Murphy Oil (NYSE:MURGet Rating) last issued its earnings results on Thursday, August 4th. The oil and gas producer reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.51. Murphy Oil had a net margin of 17.00% and a return on equity of 12.07%. The company had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $880.87 million. During the same quarter last year, the company posted $0.59 earnings per share. The firm’s quarterly revenue was up 100.3% on a year-over-year basis.

Institutional Investors Weigh In On Murphy Oil

Several large investors have recently added to or reduced their stakes in MUR. Lazard Asset Management LLC bought a new stake in shares of Murphy Oil in the 2nd quarter valued at about $25,000. Rockefeller Capital Management L.P. raised its holdings in shares of Murphy Oil by 857.8% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,657 shares of the oil and gas producer’s stock valued at $43,000 after purchasing an additional 1,484 shares in the last quarter. Quent Capital LLC raised its holdings in shares of Murphy Oil by 36.8% in the 1st quarter. Quent Capital LLC now owns 1,127 shares of the oil and gas producer’s stock valued at $46,000 after purchasing an additional 303 shares in the last quarter. CoreCap Advisors LLC bought a new stake in shares of Murphy Oil in the 2nd quarter valued at about $64,000. Finally, Meeder Asset Management Inc. bought a new stake in shares of Murphy Oil in the 1st quarter valued at about $77,000. 77.38% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Murphy Oil

In related news, Director T Jay Collins sold 5,000 shares of Murphy Oil stock in a transaction dated Tuesday, September 13th. The shares were sold at an average price of $40.32, for a total transaction of $201,600.00. Following the completion of the transaction, the director now directly owns 10,137 shares of the company’s stock, valued at approximately $408,723.84. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO Thomas J. Mireles sold 5,540 shares of Murphy Oil stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $36.30, for a total transaction of $201,102.00. Following the completion of the transaction, the chief financial officer now directly owns 51,758 shares of the company’s stock, valued at approximately $1,878,815.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director T Jay Collins sold 5,000 shares of Murphy Oil stock in a transaction dated Tuesday, September 13th. The stock was sold at an average price of $40.32, for a total transaction of $201,600.00. Following the transaction, the director now directly owns 10,137 shares of the company’s stock, valued at $408,723.84. The disclosure for this sale can be found here. Insiders own 6.20% of the company’s stock.

Murphy Oil Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Monday, November 14th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.33%. Murphy Oil’s dividend payout ratio (DPR) is presently 30.49%.

About Murphy Oil

(Get Rating)

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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