Murphy Oil Co. (NYSE:MUR) Expected to Post Earnings of $0.23 Per Share

Brokerages predict that Murphy Oil Co. (NYSE:MUR) will report earnings per share of $0.23 for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Murphy Oil’s earnings. The highest EPS estimate is $0.39 and the lowest is $0.12. Murphy Oil reported earnings per share of $0.35 in the same quarter last year, which would suggest a negative year-over-year growth rate of 34.3%. The firm is expected to announce its next quarterly earnings results before the market opens on Thursday, October 31st.

According to Zacks, analysts expect that Murphy Oil will report full-year earnings of $0.86 per share for the current financial year, with EPS estimates ranging from $0.74 to $0.97. For the next year, analysts forecast that the business will report earnings of $0.70 per share, with EPS estimates ranging from ($0.14) to $1.33. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that that provide coverage for Murphy Oil.

Murphy Oil (NYSE:MUR) last posted its earnings results on Thursday, August 8th. The oil and gas producer reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.03. Murphy Oil had a net margin of 12.37% and a return on equity of 3.48%. The firm had revenue of $709.00 million during the quarter, compared to analysts’ expectations of $612.71 million. During the same period in the previous year, the business posted $0.36 EPS. The business’s revenue was up 81.8% compared to the same quarter last year.

Several equities analysts recently issued reports on MUR shares. Piper Jaffray Companies set a $38.00 target price on shares of Murphy Oil and gave the company a “hold” rating in a research note on Friday, August 16th. ValuEngine upgraded shares of Murphy Oil from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. MKM Partners set a $38.00 target price on shares of Murphy Oil and gave the company a “buy” rating in a research note on Monday, August 12th. Morgan Stanley decreased their target price on shares of Murphy Oil from $24.00 to $22.00 and set an “underweight” rating for the company in a research note on Friday, July 12th. Finally, Wells Fargo & Co reduced their price objective on shares of Murphy Oil from $28.00 to $23.00 and set a “market perform” rating for the company in a research report on Friday, September 6th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $30.47.

In other news, Director Walentin Mirosh sold 1,360 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $18.52, for a total value of $25,187.20. Following the completion of the sale, the director now directly owns 25,365 shares in the company, valued at $469,759.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 6.46% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. NuWave Investment Management LLC raised its position in shares of Murphy Oil by 391.9% in the third quarter. NuWave Investment Management LLC now owns 2,617 shares of the oil and gas producer’s stock valued at $53,000 after buying an additional 2,085 shares during the last quarter. Tower Research Capital LLC TRC acquired a new stake in shares of Murphy Oil in the second quarter valued at about $72,000. Capital Investment Advisory Services LLC raised its position in shares of Murphy Oil by 583.3% in the third quarter. Capital Investment Advisory Services LLC now owns 4,100 shares of the oil and gas producer’s stock valued at $91,000 after buying an additional 3,500 shares during the last quarter. Oppenheimer Asset Management Inc. raised its position in shares of Murphy Oil by 10.8% in the second quarter. Oppenheimer Asset Management Inc. now owns 5,768 shares of the oil and gas producer’s stock valued at $142,000 after buying an additional 560 shares during the last quarter. Finally, Macquarie Group Ltd. acquired a new stake in shares of Murphy Oil in the second quarter valued at about $205,000. Institutional investors and hedge funds own 90.22% of the company’s stock.

Shares of MUR traded up $0.40 during trading hours on Monday, hitting $19.06. The stock had a trading volume of 1,994,659 shares, compared to its average volume of 2,543,508. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.21 and a current ratio of 1.25. The firm has a 50-day moving average price of $20.73 and a 200 day moving average price of $23.43. Murphy Oil has a fifty-two week low of $17.04 and a fifty-two week high of $34.85. The firm has a market capitalization of $3.08 billion, a price-to-earnings ratio of 15.13 and a beta of 2.03.

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 $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 5.25%. The ex-dividend date is Friday, November 15th. Murphy Oil’s dividend payout ratio is presently 79.37%.

Murphy Oil Company Profile

Murphy Oil Corporation operates as an oil and gas exploration and production company in the United States, Canada, Malaysia, 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.

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Earnings History and Estimates for Murphy Oil (NYSE:MUR)

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