Murphy Oil Co. to Post Q1 2024 Earnings of $0.92 Per Share, Zacks Research Forecasts (NYSE:MUR)

Murphy Oil Co. (NYSE:MUR) – Analysts at Zacks Research dropped their Q1 2024 earnings per share estimates for shares of Murphy Oil in a research note issued to investors on Friday, April 26th. Zacks Research analyst J. Saha now anticipates that the oil and gas producer will earn $0.92 per share for the quarter, down from their prior estimate of $0.95. The consensus estimate for Murphy Oil’s current full-year earnings is $4.74 per share. Zacks Research also issued estimates for Murphy Oil’s Q2 2024 earnings at $1.00 EPS, Q3 2024 earnings at $1.24 EPS, Q4 2024 earnings at $1.37 EPS, FY2024 earnings at $4.52 EPS, Q1 2025 earnings at $1.29 EPS, Q2 2025 earnings at $1.37 EPS, Q3 2025 earnings at $1.66 EPS, Q4 2025 earnings at $1.48 EPS, FY2025 earnings at $5.80 EPS, Q1 2026 earnings at $1.54 EPS and FY2026 earnings at $6.97 EPS.

A number of other equities analysts have also recently issued reports on MUR. Scotiabank cut Murphy Oil from a “sector outperform” rating to a “sector perform” rating and upped their price objective for the stock from $46.00 to $50.00 in a report on Thursday, April 11th. JPMorgan Chase & Co. boosted their target price on Murphy Oil from $51.00 to $52.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. Roth Mkm reissued a “buy” rating on shares of Murphy Oil in a research note on Wednesday, March 20th. Truist Financial boosted their target price on Murphy Oil from $58.00 to $59.00 and gave the company a “buy” rating in a research note on Friday, April 5th. Finally, Barclays assumed coverage on Murphy Oil in a research note on Wednesday, April 10th. They issued an “equal weight” rating and a $54.00 target price for the company. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $50.64.

Murphy Oil Price Performance

MUR opened at $44.63 on Monday. The stock has a 50-day moving average price of $44.08 and a 200-day moving average price of $42.69. Murphy Oil has a 12-month low of $32.80 and a 12-month high of $49.14. The company has a current ratio of 0.89, a quick ratio of 0.82 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $6.81 billion, a P/E ratio of 10.58 and a beta of 2.21.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in MUR. Rise Advisors LLC purchased a new stake in shares of Murphy Oil in the 1st quarter worth approximately $30,000. Bruce G. Allen Investments LLC purchased a new stake in shares of Murphy Oil in the 4th quarter worth approximately $29,000. Lindbrook Capital LLC grew its stake in shares of Murphy Oil by 47.7% in the 1st quarter. Lindbrook Capital LLC now owns 721 shares of the oil and gas producer’s stock worth $33,000 after buying an additional 233 shares during the last quarter. Headinvest LLC purchased a new stake in shares of Murphy Oil in the 3rd quarter worth approximately $70,000. Finally, Benjamin F. Edwards & Company Inc. grew its stake in shares of Murphy Oil by 27.0% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 2,105 shares of the oil and gas producer’s stock worth $96,000 after buying an additional 447 shares during the last quarter. Institutional investors own 78.31% of the company’s stock.

Insider Buying and Selling at Murphy Oil

In other Murphy Oil news, VP Maria A. Martinez sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $43.35, for a total transaction of $433,500.00. Following the completion of the transaction, the vice president now owns 40,590 shares of the company’s stock, valued at approximately $1,759,576.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Maria A. Martinez sold 10,000 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $43.35, for a total value of $433,500.00. Following the completion of the transaction, the vice president now owns 40,590 shares of the company’s stock, valued at approximately $1,759,576.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Roger W. Jenkins sold 110,000 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $40.39, for a total value of $4,442,900.00. Following the completion of the transaction, the chief executive officer now directly owns 1,035,190 shares of the company’s stock, valued at approximately $41,811,324.10. The disclosure for this sale can be found here. Insiders sold 156,260 shares of company stock valued at $6,322,644 in the last 90 days. Insiders own 5.95% of the company’s stock.

Murphy Oil Dividend Announcement

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. This represents a $1.20 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date is Friday, May 17th. Murphy Oil’s payout ratio is 28.44%.

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.