Q2 2024 Earnings Estimate for Murphy Oil Co. (NYSE:MUR) Issued By Roth Capital

Murphy Oil Co. (NYSE:MUR) – Research analysts at Roth Capital cut their Q2 2024 earnings per share estimates for shares of Murphy Oil in a research report issued to clients and investors on Thursday, May 2nd. Roth Capital analyst L. Mariani now expects that the oil and gas producer will post earnings of $0.95 per share for the quarter, down from their previous forecast of $1.09. The consensus estimate for Murphy Oil’s current full-year earnings is $4.64 per share. Roth Capital also issued estimates for Murphy Oil’s FY2024 earnings at $4.80 EPS, Q1 2025 earnings at $1.51 EPS, Q2 2025 earnings at $1.29 EPS, Q3 2025 earnings at $1.56 EPS, Q4 2025 earnings at $1.79 EPS and FY2025 earnings at $6.13 EPS.

Murphy Oil (NYSE:MUR) last issued its quarterly earnings data on Thursday, May 2nd. The oil and gas producer reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.03. The firm had revenue of $794.80 million for the quarter, compared to analysts’ expectations of $750.94 million. Murphy Oil had a net margin of 16.40% and a return on equity of 11.75%. The company’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.24 earnings per share.

MUR has been the subject of a number of other reports. KeyCorp boosted their target price on shares of Murphy Oil from $50.00 to $54.00 and gave the stock an “overweight” rating in a research note on Monday, April 22nd. Truist Financial raised their target price on shares of Murphy Oil from $58.00 to $59.00 and gave the company a “buy” rating in a research note on Friday, April 5th. UBS Group cut their price objective on shares of Murphy Oil from $45.00 to $43.00 and set a “neutral” rating on the stock in a report on Monday, January 29th. Barclays began coverage on shares of Murphy Oil in a report on Wednesday, April 10th. They set an “equal weight” rating and a $54.00 target price for the company. Finally, Piper Sandler increased their target price on Murphy Oil from $49.00 to $55.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $50.64.

Murphy Oil Trading Down 0.2 %

MUR stock opened at $44.15 on Monday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.93 and a quick ratio of 0.82. The stock has a market capitalization of $6.74 billion, a price-to-earnings ratio of 12.30 and a beta of 2.22. The business has a fifty day moving average price of $44.47 and a 200 day moving average price of $42.61. Murphy Oil has a fifty-two week low of $32.80 and a fifty-two week high of $49.14.

Murphy Oil Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 20th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, May 17th. This represents a $1.20 annualized dividend and a yield of 2.72%. Murphy Oil’s dividend payout ratio (DPR) is presently 33.43%.

Insiders Place Their Bets

In other Murphy Oil news, VP Louis W. Utsch sold 30,260 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $39.94, for a total transaction of $1,208,584.40. Following the transaction, the vice president now owns 9,504 shares of the company’s stock, valued at approximately $379,589.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Murphy Oil news, VP Louis W. Utsch sold 30,260 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $39.94, for a total transaction of $1,208,584.40. Following the transaction, the vice president now owns 9,504 shares of the company’s stock, valued at $379,589.76. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Paul D. Vaughan sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $39.61, for a total value of $237,660.00. Following the completion of the sale, the vice president now directly owns 11,877 shares of the company’s stock, valued at $470,447.97. The disclosure for this sale can be found here. Insiders have sold 156,260 shares of company stock valued at $6,322,644 in the last three months. 5.92% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MUR. Rehmann Capital Advisory Group grew its holdings in Murphy Oil by 21.2% in the 1st quarter. Rehmann Capital Advisory Group now owns 5,709 shares of the oil and gas producer’s stock valued at $261,000 after buying an additional 1,000 shares in the last quarter. GSA Capital Partners LLP bought a new stake in shares of Murphy Oil during the 1st quarter valued at $542,000. Fidelis Capital Partners LLC bought a new stake in Murphy Oil during the first quarter worth about $141,000. Janney Montgomery Scott LLC bought a new position in Murphy Oil in the 1st quarter valued at about $1,022,000. Finally, BNP Paribas Financial Markets raised its position in Murphy Oil by 3.9% during the first quarter. BNP Paribas Financial Markets now owns 113,677 shares of the oil and gas producer’s stock valued at $5,195,000 after purchasing an additional 4,259 shares in the last quarter. 78.31% of the stock is 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.