Q3 2024 EPS Estimates for Murphy Oil Co. (NYSE:MUR) Decreased by Analyst

Murphy Oil Co. (NYSE:MUR) – Stock analysts at Capital One Financial reduced their Q3 2024 earnings estimates for Murphy Oil in a research report issued on Tuesday, September 17th. Capital One Financial analyst B. Velie now forecasts that the oil and gas producer will post earnings of $0.73 per share for the quarter, down from their prior forecast of $1.03. The consensus estimate for Murphy Oil’s current full-year earnings is $3.99 per share. Capital One Financial also issued estimates for Murphy Oil’s Q4 2024 earnings at $1.02 EPS, FY2024 earnings at $3.42 EPS, Q1 2025 earnings at $1.17 EPS, Q2 2025 earnings at $1.20 EPS, Q3 2025 earnings at $1.24 EPS, Q4 2025 earnings at $1.26 EPS, FY2025 earnings at $4.87 EPS and FY2026 earnings at $5.65 EPS.

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

MUR has been the subject of several other reports. Morgan Stanley decreased their target price on shares of Murphy Oil from $43.00 to $39.00 and set an “equal weight” rating for the company in a research note on Monday. JPMorgan Chase & Co. decreased their price objective on shares of Murphy Oil from $47.00 to $39.00 and set a “neutral” rating for the company in a research report on Thursday, September 12th. StockNews.com cut Murphy Oil from a “buy” rating to a “hold” rating in a research report on Tuesday, June 18th. Piper Sandler reduced their price target on Murphy Oil from $54.00 to $44.00 and set an “overweight” rating for the company in a report on Thursday, August 15th. Finally, Wolfe Research began coverage on Murphy Oil in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $45.00.

Murphy Oil Trading Up 2.0 %

Shares of NYSE:MUR opened at $36.02 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.76 and a debt-to-equity ratio of 0.23. Murphy Oil has a 12-month low of $33.15 and a 12-month high of $49.14. The business has a 50 day moving average of $37.86 and a two-hundred day moving average of $41.30. The company has a market capitalization of $5.50 billion, a PE ratio of 10.03 and a beta of 2.21.

Murphy Oil Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 19th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.33%. The ex-dividend date of this dividend was Monday, August 19th. Murphy Oil’s payout ratio is 33.43%.

Hedge Funds Weigh In On Murphy Oil

Hedge funds and other institutional investors have recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. boosted its stake in shares of Murphy Oil by 235.2% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 5,799 shares of the oil and gas producer’s stock valued at $239,000 after purchasing an additional 4,069 shares during the period. Cetera Investment Advisers grew its stake in shares of Murphy Oil by 4.3% in the second quarter. Cetera Investment Advisers now owns 38,804 shares of the oil and gas producer’s stock worth $1,600,000 after acquiring an additional 1,609 shares in the last quarter. Quarry LP grew its stake in shares of Murphy Oil by 102.9% in the second quarter. Quarry LP now owns 70,244 shares of the oil and gas producer’s stock worth $2,897,000 after acquiring an additional 35,621 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of Murphy Oil by 16.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,140 shares of the oil and gas producer’s stock valued at $129,000 after acquiring an additional 438 shares in the last quarter. Finally, Creative Planning raised its stake in shares of Murphy Oil by 15.9% in the second quarter. Creative Planning now owns 36,892 shares of the oil and gas producer’s stock valued at $1,521,000 after acquiring an additional 5,068 shares in the last quarter. 78.31% of the stock is currently owned by hedge funds and other institutional investors.

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.