Murphy Oil Q3 EPS Forecast Reduced by Capital One Financial

Murphy Oil Co. (NYSE:MUR) – Equities research analysts at Capital One Financial reduced their Q3 2024 EPS estimates for shares of Murphy Oil in a research note issued to investors on Wednesday, October 16th. Capital One Financial analyst B. Velie now expects that the oil and gas producer will post earnings of $0.66 per share for the quarter, down from their previous estimate of $0.73. The consensus estimate for Murphy Oil’s current full-year earnings is $3.47 per share. Capital One Financial also issued estimates for Murphy Oil’s FY2024 earnings at $3.34 EPS.

Murphy Oil (NYSE:MUR) last announced its quarterly earnings data on Thursday, August 8th. The oil and gas producer reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.08. The company had revenue of $802.80 million during the quarter, compared to analysts’ expectations of $813.97 million. Murphy Oil had a net margin of 17.32% and a return on equity of 11.68%. The business’s revenue was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.79 EPS.

Several other analysts have also commented on MUR. Scotiabank decreased their price target on Murphy Oil from $47.00 to $36.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 10th. Mizuho dropped their target price on shares of Murphy Oil from $59.00 to $50.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. Morgan Stanley reduced their price target on shares of Murphy Oil from $43.00 to $39.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. Wells Fargo & Company dropped their price objective on shares of Murphy Oil from $41.00 to $39.00 and set an “equal weight” rating for the company in a report on Friday, September 27th. Finally, Truist Financial reduced their target price on Murphy Oil from $55.00 to $42.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Ten investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Murphy Oil has a consensus rating of “Hold” and a consensus price target of $41.17.

Murphy Oil Trading Down 0.3 %

MUR stock opened at $33.04 on Friday. Murphy Oil has a 1-year low of $32.53 and a 1-year high of $49.14. The company has a current ratio of 0.82, a quick ratio of 0.76 and a debt-to-equity ratio of 0.23. The business’s 50 day moving average is $35.60 and its 200-day moving average is $40.01. The firm has a market cap of $5.04 billion, a P/E ratio of 9.20 and a beta of 2.20.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Raymond James & Associates grew its stake in shares of Murphy Oil by 16.8% during the third quarter. Raymond James & Associates now owns 142,138 shares of the oil and gas producer’s stock worth $4,796,000 after purchasing an additional 20,396 shares during the period. Compass Wealth Management LLC bought a new position in Murphy Oil during the third quarter worth about $42,000. nVerses Capital LLC acquired a new position in shares of Murphy Oil during the 3rd quarter worth about $354,000. Creative Planning grew its position in shares of Murphy Oil by 11.2% during the 3rd quarter. Creative Planning now owns 41,014 shares of the oil and gas producer’s stock worth $1,384,000 after buying an additional 4,122 shares during the period. Finally, Wedge Capital Management L L P NC increased its stake in shares of Murphy Oil by 641.7% in the 3rd quarter. Wedge Capital Management L L P NC now owns 672,717 shares of the oil and gas producer’s stock valued at $22,697,000 after acquiring an additional 582,020 shares during the last quarter. Institutional investors own 78.31% of the company’s stock.

Murphy Oil Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.20 dividend on an annualized basis and a yield of 3.63%. Murphy Oil’s payout ratio is presently 33.43%.

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.