Q3 Earnings Estimate for Murphy Oil Issued By Zacks Research

Murphy Oil Co. (NYSE:MUR) – Zacks Research dropped their Q3 2024 EPS estimates for shares of Murphy Oil in a report released on Monday, October 28th. Zacks Research analyst J. Saha now forecasts that the oil and gas producer will post earnings per share of $0.99 for the quarter, down from their previous 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.

A number of other research analysts also recently issued reports on MUR. Truist Financial decreased 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 note on Monday, September 30th. Wolfe Research assumed coverage on Murphy Oil in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. 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. UBS Group dropped their price objective on Murphy Oil from $45.00 to $39.00 and set a “neutral” rating on the stock in a report on Wednesday, September 18th. Finally, 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. Ten research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Murphy Oil has an average rating of “Hold” and a consensus price target of $41.17.

Murphy Oil Stock Performance

Shares of MUR opened at $31.23 on Wednesday. The stock has a 50-day simple moving average of $34.92 and a 200-day simple moving average of $39.13. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.76 and a current ratio of 0.82. Murphy Oil has a 1 year low of $31.12 and a 1 year high of $49.14. The stock has a market capitalization of $4.55 billion, a PE ratio of 8.22 and a beta of 2.20.

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

Murphy Oil Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders 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 yield of 3.84%. Murphy Oil’s dividend payout ratio is presently 31.58%.

Institutional Investors Weigh In On Murphy Oil

Several hedge funds have recently made changes to their positions in the business. Duality Advisers LP lifted its position in Murphy Oil by 364.6% during the 1st quarter. Duality Advisers LP now owns 113,451 shares of the oil and gas producer’s stock worth $5,185,000 after acquiring an additional 89,032 shares during the period. O Shaughnessy Asset Management LLC grew its position in Murphy Oil by 138.8% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 29,702 shares of the oil and gas producer’s stock valued at $1,357,000 after buying an additional 17,265 shares during the last quarter. QRG Capital Management Inc. grew its position in Murphy Oil by 4.0% in the 1st quarter. QRG Capital Management Inc. now owns 15,642 shares of the oil and gas producer’s stock valued at $715,000 after buying an additional 599 shares during the last quarter. Janney Montgomery Scott LLC acquired a new position in Murphy Oil in the 1st quarter valued at $1,022,000. Finally, Mutual of America Capital Management LLC raised its position in Murphy Oil by 21.2% during the 2nd quarter. Mutual of America Capital Management LLC now owns 218,739 shares of the oil and gas producer’s stock worth $9,021,000 after buying an additional 38,334 shares during the last quarter. Institutional investors and hedge funds 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.