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

Murphy Oil Co. (NYSE:MUR) – Equities research analysts at Roth Capital lowered their Q2 2024 EPS estimates for shares of Murphy Oil in a report released on Thursday, May 2nd. Roth Capital analyst L. Mariani now expects that the oil and gas producer will post earnings per share of $0.95 for the quarter, down from their prior 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.

Several other research firms have also recently weighed in on MUR. Scotiabank cut shares of Murphy Oil from a “sector outperform” rating to a “sector perform” rating and upped their price target for the company from $46.00 to $50.00 in a report on Thursday, April 11th. JPMorgan Chase & Co. increased their target price on Murphy Oil from $51.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. UBS Group cut their price target on Murphy Oil from $45.00 to $43.00 and set a “neutral” rating on the stock in a report on Monday, January 29th. Roth Mkm reiterated a “buy” rating on shares of Murphy Oil in a report on Wednesday, March 20th. Finally, Piper Sandler boosted 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 analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $50.64.

Murphy Oil Trading Up 0.7 %

NYSE:MUR opened at $44.48 on Monday. The business’s 50-day simple moving average is $44.57 and its 200-day simple moving average is $42.59. Murphy Oil has a fifty-two week low of $32.80 and a fifty-two week high of $49.14. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.93 and a quick ratio of 0.87. The stock has a market capitalization of $6.79 billion, a PE ratio of 12.39 and a beta of 2.22.

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

Murphy Oil Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 20th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date of this dividend is Friday, May 17th. Murphy Oil’s dividend payout ratio is currently 33.43%.

Insider Activity

In other Murphy Oil news, CEO Roger W. Jenkins sold 110,000 shares of the company’s 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 sale, the chief executive officer now owns 1,035,190 shares in the company, valued at $41,811,324.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Roger W. Jenkins sold 110,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $40.39, for a total transaction of $4,442,900.00. Following the completion of the sale, the chief executive officer now owns 1,035,190 shares in the company, valued at approximately $41,811,324.10. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Maria A. Martinez sold 10,000 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were 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 in the company, valued at approximately $1,759,576.50. The disclosure for this sale can be found here. Insiders sold a total of 156,260 shares of company stock valued at $6,322,644 in the last quarter. Company insiders own 5.95% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MUR. Bruce G. Allen Investments LLC acquired a new position in shares of Murphy Oil in the fourth quarter valued at about $29,000. Rise Advisors LLC bought a new position in shares of Murphy Oil during the first quarter worth approximately $30,000. Lindbrook Capital LLC increased its holdings in shares of Murphy Oil by 47.7% during the first quarter. Lindbrook Capital LLC now owns 721 shares of the oil and gas producer’s stock worth $33,000 after purchasing an additional 233 shares during the period. Headinvest LLC bought a new position in Murphy Oil during the 3rd quarter worth $70,000. Finally, Benjamin F. Edwards & Company Inc. raised its holdings in 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 valued at $96,000 after acquiring an additional 447 shares in the last quarter. 78.31% of the stock is owned by institutional investors and hedge funds.

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.