Analysts Offer Predictions for Murphy Oil Co.’s Q2 2024 Earnings (NYSE:MUR)

Murphy Oil Co. (NYSE:MUR) – Analysts at Capital One Financial reduced their Q2 2024 EPS estimates for Murphy Oil in a research note issued to investors on Monday, June 17th. Capital One Financial analyst B. Velie now anticipates that the oil and gas producer will post earnings per share of $0.61 for the quarter, down from their previous forecast of $1.00. The consensus estimate for Murphy Oil’s current full-year earnings is $4.22 per share. Capital One Financial also issued estimates for Murphy Oil’s Q4 2024 earnings at $1.35 EPS.

Other research analysts also recently issued research reports about the stock. Truist Financial upped 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. Roth Mkm reissued a “buy” rating on shares of Murphy Oil in a research report on Wednesday, March 20th. JPMorgan Chase & Co. increased their price objective on shares of Murphy Oil from $51.00 to $52.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. KeyCorp increased their price objective on shares of Murphy Oil from $50.00 to $54.00 and gave the company an “overweight” rating in a research note on Monday, April 22nd. Finally, Scotiabank downgraded shares of Murphy Oil from a “sector outperform” rating to a “sector perform” rating and raised their target price for the company from $46.00 to $50.00 in a research note on Thursday, April 11th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $51.00.

Murphy Oil Trading Up 0.3 %

Shares of MUR stock opened at $38.85 on Wednesday. Murphy Oil has a 1 year low of $36.34 and a 1 year high of $49.14. The firm has a fifty day moving average price of $43.16 and a 200-day moving average price of $42.09. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.93 and a quick ratio of 0.87. The company has a market cap of $5.93 billion, a price-to-earnings ratio of 10.82 and a beta of 2.21.

Murphy Oil (NYSE:MUR) last announced its earnings results on Thursday, May 2nd. The oil and gas producer reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.03. Murphy Oil had a net margin of 16.40% and a return on equity of 11.75%. The company 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 posted $1.24 earnings per share. The firm’s quarterly revenue was down 5.4% compared to the same quarter last year.

Murphy Oil Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 20th were issued a dividend of $0.30 per share. The ex-dividend date was Friday, May 17th. This represents a $1.20 annualized dividend and a yield of 3.09%. Murphy Oil’s dividend payout ratio (DPR) is currently 33.43%.

Institutional Investors Weigh In On Murphy Oil

Several hedge funds have recently modified their holdings of MUR. International Assets Investment Management LLC boosted its holdings in shares of Murphy Oil by 3,904.6% during the fourth quarter. International Assets Investment Management LLC now owns 2,090,904 shares of the oil and gas producer’s stock valued at $89,198,000 after acquiring an additional 2,038,692 shares during the period. Invenomic Capital Management LP acquired a new stake in Murphy Oil in the fourth quarter worth about $16,349,000. Heartland Advisors Inc. acquired a new stake in Murphy Oil in the fourth quarter worth about $12,988,000. Vaughan Nelson Investment Management L.P. lifted its holdings in Murphy Oil by 23.0% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 1,132,305 shares of the oil and gas producer’s stock worth $51,746,000 after purchasing an additional 212,100 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in Murphy Oil by 2.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 7,861,968 shares of the oil and gas producer’s stock worth $335,397,000 after purchasing an additional 207,547 shares during the period. 78.31% of the stock is owned by institutional investors and hedge funds.

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.