FY2024 Earnings Estimate for Murphy Oil Issued By Scotiabank

Murphy Oil Co. (NYSE:MUR) – Equities research analysts at Scotiabank issued their FY2024 EPS estimates for shares of Murphy Oil in a research report issued to clients and investors on Wednesday, January 8th. Scotiabank analyst P. Cheng expects that the oil and gas producer will post earnings of $3.05 per share for the year. Scotiabank has a “Sector Perform” rating and a $36.00 price target on the stock. The consensus estimate for Murphy Oil’s current full-year earnings is $3.15 per share. Scotiabank also issued estimates for Murphy Oil’s FY2025 earnings at $2.95 EPS.

Several other analysts have also recently commented on the company. Wells Fargo & Company lowered their price target on Murphy Oil from $39.00 to $35.00 and set an “equal weight” rating for the company in a report on Monday, December 9th. Truist Financial dropped their price target on shares of Murphy Oil from $55.00 to $42.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Morgan Stanley cut 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 note on Monday, September 16th. UBS Group lowered their price objective on shares of Murphy Oil from $38.00 to $34.00 and set a “neutral” rating for the company in a research note on Monday, December 9th. Finally, Barclays cut their target price on Murphy Oil from $38.00 to $37.00 and set an “equal weight” rating on the stock in a research report on Monday, November 11th. Ten analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Murphy Oil has an average rating of “Hold” and a consensus price target of $39.58.

Murphy Oil Price Performance

MUR stock opened at $33.34 on Monday. The stock has a market capitalization of $4.86 billion, a price-to-earnings ratio of 10.75 and a beta of 2.17. The stock’s fifty day simple moving average is $31.30 and its 200-day simple moving average is $34.86. Murphy Oil has a 52-week low of $27.75 and a 52-week high of $49.14. The company has a quick ratio of 0.65, a current ratio of 0.71 and a debt-to-equity ratio of 0.24.

Murphy Oil (NYSE:MUR) last announced its quarterly earnings data on Thursday, November 7th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.02). The firm had revenue of $758.33 million for the quarter, compared to analysts’ expectations of $759.74 million. Murphy Oil had a net margin of 14.78% and a return on equity of 9.22%. The business’s quarterly revenue was down 21.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.59 EPS.

Institutional Trading of Murphy Oil

A number of hedge funds have recently made changes to their positions in the company. Covestor Ltd grew its holdings in Murphy Oil by 266.8% during the 3rd quarter. Covestor Ltd now owns 741 shares of the oil and gas producer’s stock valued at $25,000 after purchasing an additional 539 shares in the last quarter. Reston Wealth Management LLC acquired a new stake in shares of Murphy Oil during the third quarter valued at about $27,000. Compass Wealth Management LLC purchased a new stake in shares of Murphy Oil during the third quarter worth about $42,000. Bruce G. Allen Investments LLC lifted its stake in shares of Murphy Oil by 106.5% in the third quarter. Bruce G. Allen Investments LLC now owns 1,470 shares of the oil and gas producer’s stock worth $50,000 after acquiring an additional 758 shares in the last quarter. Finally, Headlands Technologies LLC boosted its holdings in Murphy Oil by 1,434.5% in the second quarter. Headlands Technologies LLC now owns 1,289 shares of the oil and gas producer’s stock valued at $53,000 after purchasing an additional 1,205 shares during the last quarter. Hedge funds and other institutional investors own 78.31% of the company’s stock.

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.