Murphy Oil Q3 EPS Estimate Cut by Capital One Financial

Murphy Oil Co. (NYSE:MUR) – Research analysts at Capital One Financial cut their Q3 2024 earnings per share (EPS) estimates for shares of Murphy Oil in a research report issued on Wednesday, October 16th. Capital One Financial analyst B. Velie now forecasts that the oil and gas producer will post earnings of $0.66 per share for the quarter, down from their previous forecast 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.

MUR has been the topic of several other research reports. The Goldman Sachs Group cut their target price on Murphy Oil from $44.00 to $39.00 and set a “neutral” rating on the stock in a research note on Monday, October 7th. UBS Group cut their price objective on shares of Murphy Oil from $45.00 to $39.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 18th. Wells Fargo & Company lowered their price target on shares of 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. Piper Sandler decreased their price objective on Murphy Oil from $44.00 to $43.00 and set an “overweight” rating for the company in a report on Tuesday. Finally, Truist Financial dropped 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 analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $41.17.

Murphy Oil Stock Performance

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

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, topping the consensus estimate of $0.73 by $0.08. The company had revenue of $802.80 million during the quarter, compared to the consensus estimate of $813.97 million. Murphy Oil had a net margin of 17.32% and a return on equity of 11.68%. The firm’s revenue was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.79 earnings per share.

Murphy Oil Dividend Announcement

The business also recently disclosed 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 3.63%. Murphy Oil’s dividend payout ratio (DPR) is presently 33.43%.

Institutional Trading of Murphy Oil

Several institutional investors have recently added to or reduced their stakes in MUR. Duality Advisers LP grew its stake in shares of Murphy Oil by 364.6% in the first quarter. Duality Advisers LP now owns 113,451 shares of the oil and gas producer’s stock valued at $5,185,000 after acquiring an additional 89,032 shares in the last quarter. O Shaughnessy Asset Management LLC grew its position in shares of Murphy Oil by 138.8% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 29,702 shares of the oil and gas producer’s stock worth $1,357,000 after purchasing an additional 17,265 shares in the last quarter. QRG Capital Management Inc. increased its holdings in shares of Murphy Oil by 4.0% during the first quarter. QRG Capital Management Inc. now owns 15,642 shares of the oil and gas producer’s stock worth $715,000 after purchasing an additional 599 shares during the period. Janney Montgomery Scott LLC acquired a new stake in shares of Murphy Oil in the first quarter valued at approximately $1,022,000. Finally, Mutual of America Capital Management LLC boosted its stake in shares of Murphy Oil by 21.2% in the second quarter. Mutual of America Capital Management LLC now owns 218,739 shares of the oil and gas producer’s stock valued at $9,021,000 after buying an additional 38,334 shares during the period. 78.31% of the stock is currently owned by 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.