Q3 Earnings Estimate for Murphy Oil Issued By Zacks Research

Murphy Oil Co. (NYSE:MUR) – Investment analysts at Zacks Research lowered their Q3 2024 earnings per share estimates for Murphy Oil in a note issued to investors on Monday, October 28th. Zacks Research analyst J. Saha now anticipates that the oil and gas producer will post earnings per share of $0.99 for the quarter, down from their prior forecast 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.

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 for the quarter, beating the consensus estimate of $0.73 by $0.08. Murphy Oil had a return on equity of 11.68% and a net margin of 17.32%. The company had revenue of $802.80 million during the quarter, compared to analysts’ expectations of $813.97 million. During the same quarter last year, the company earned $0.79 EPS. Murphy Oil’s revenue for the quarter was down 1.4% compared to the same quarter last year.

Other analysts have also recently issued reports about the company. The Goldman Sachs Group reduced their price target on Murphy Oil from $44.00 to $39.00 and set a “neutral” rating on the stock in a report on Monday, October 7th. Wolfe Research initiated coverage on shares of Murphy Oil in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Wells Fargo & Company decreased their price target on Murphy Oil from $41.00 to $39.00 and set an “equal weight” rating for the company in a report on Friday, September 27th. Mizuho cut their target price on Murphy Oil from $59.00 to $50.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Finally, Barclays dropped their price target on Murphy Oil from $46.00 to $38.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 3rd. Ten analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $41.17.

Murphy Oil Stock Up 0.1 %

MUR stock opened at $31.48 on Wednesday. The company has a market cap of $4.59 billion, a PE 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. Murphy Oil has a 52 week low of $31.12 and a 52 week high of $49.14. The business has a 50-day simple moving average of $34.81 and a 200 day simple moving average of $39.08.

Institutional Investors Weigh In On Murphy Oil

Institutional investors have recently bought and sold shares of the stock. International Assets Investment Management LLC lifted its holdings in Murphy Oil by 3,191.6% in the third quarter. International Assets Investment Management LLC now owns 1,627,268 shares of the oil and gas producer’s stock worth $54,904,000 after buying an additional 1,577,831 shares during the period. Wedge Capital Management L L P NC lifted its stake in shares of Murphy Oil by 641.7% in the third quarter. Wedge Capital Management L L P NC now owns 672,717 shares of the oil and gas producer’s stock worth $22,697,000 after buying an additional 582,020 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Murphy Oil by 90.5% during the second quarter. Assenagon Asset Management S.A. now owns 1,092,374 shares of the oil and gas producer’s stock valued at $45,050,000 after buying an additional 518,904 shares during the last quarter. Squarepoint Ops LLC increased its position in shares of Murphy Oil by 92.1% during the second quarter. Squarepoint Ops LLC now owns 687,254 shares of the oil and gas producer’s stock valued at $28,342,000 after acquiring an additional 329,521 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Murphy Oil by 3.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 8,254,125 shares of the oil and gas producer’s stock valued at $340,400,000 after acquiring an additional 262,256 shares during the period. 78.31% of the stock is currently owned by hedge funds and other institutional investors.

Murphy Oil Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.81%. Murphy Oil’s dividend payout ratio (DPR) is 31.58%.

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.