Zacks Research Predicts Murphy Oil’s Q3 Earnings (NYSE:MUR)

Murphy Oil Co. (NYSE:MUR) – Stock analysts at Zacks Research lowered their Q3 2024 earnings per share (EPS) estimates for Murphy Oil in a report released on Monday, October 28th. Zacks Research analyst J. Saha now expects that the oil and gas producer will earn $0.99 per share for the quarter, down from their previous estimate of $1.03. The consensus estimate for Murphy Oil’s current full-year earnings is $3.46 per share. Zacks Research also issued estimates for Murphy Oil’s Q4 2024 earnings at $1.12 EPS, FY2024 earnings at $3.76 EPS, Q1 2025 earnings at $1.20 EPS, Q2 2025 earnings at $0.98 EPS, Q3 2025 earnings at $1.29 EPS, Q4 2025 earnings at $1.29 EPS, FY2025 earnings at $4.76 EPS, Q1 2026 earnings at $1.30 EPS, Q2 2026 earnings at $1.14 EPS, Q3 2026 earnings at $1.48 EPS and FY2026 earnings at $5.34 EPS.

MUR has been the topic of several other research reports. Wells Fargo & Company dropped their price objective on Murphy Oil from $41.00 to $39.00 and set an “equal weight” rating on the stock in a research note on Friday, September 27th. BMO Capital Markets cut their price objective on Murphy Oil from $42.00 to $40.00 and set a “market perform” rating on the stock in a report on Friday, October 4th. Mizuho lowered their target price on Murphy Oil from $59.00 to $50.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Wolfe Research began coverage on shares of Murphy Oil in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. Finally, Scotiabank reduced their price target on shares of Murphy Oil from $47.00 to $36.00 and set a “sector perform” rating for the company in a report on Thursday, October 10th. Ten equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $41.17.

Murphy Oil Trading Up 0.7 %

Shares of NYSE MUR opened at $31.46 on Wednesday. Murphy Oil has a twelve month low of $31.12 and a twelve month high of $49.14. The stock has a market cap of $4.59 billion, a price-to-earnings ratio of 8.28 and a beta of 2.20. The company has a quick ratio of 0.76, a current ratio of 0.82 and a debt-to-equity ratio of 0.23. The company’s fifty day moving average is $34.92 and its 200-day moving average is $39.13.

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

Murphy Oil Announces Dividend

The firm also recently declared 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 annualized dividend and a yield of 3.81%. Murphy Oil’s dividend payout ratio (DPR) is presently 31.58%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MUR. State of Michigan Retirement System lifted its stake in Murphy Oil by 1.1% in the first quarter. State of Michigan Retirement System now owns 35,647 shares of the oil and gas producer’s stock valued at $1,629,000 after acquiring an additional 400 shares during the last quarter. Monument Capital Management acquired a new stake in Murphy Oil in the 1st quarter valued at about $202,000. BNP Paribas Financial Markets grew its holdings in Murphy Oil by 3.9% during the first quarter. BNP Paribas Financial Markets now owns 113,677 shares of the oil and gas producer’s stock worth $5,195,000 after purchasing an additional 4,259 shares during the period. Janney Montgomery Scott LLC acquired a new position in Murphy Oil during the first quarter worth approximately $1,022,000. Finally, Fidelis Capital Partners LLC bought a new stake in Murphy Oil in the first quarter valued at approximately $141,000. 78.31% of the stock is owned by institutional investors and hedge funds.

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.