Brokers Set Expectations for Murphy Oil FY2024 Earnings

Murphy Oil Co. (NYSE:MUR) – Investment analysts at Scotiabank issued their FY2024 earnings per share (EPS) estimates for Murphy Oil in a research report issued to clients and investors on Wednesday, January 8th. Scotiabank analyst P. Cheng anticipates that the oil and gas producer will post earnings per share of $3.05 for the year. Scotiabank has a “Sector Perform” rating and a $36.00 price target on the stock. The consensus estimate for Murphy Oil’s current full-year earnings is $3.15 per share. Scotiabank also issued estimates for Murphy Oil’s FY2025 earnings at $2.95 EPS.

Murphy Oil (NYSE:MUR) last issued its quarterly earnings data on Thursday, November 7th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.02). The firm had revenue of $758.33 million during the quarter, compared to analyst estimates of $759.74 million. Murphy Oil had a net margin of 14.78% and a return on equity of 9.22%. The firm’s revenue was down 21.0% compared to the same quarter last year. During the same period last year, the business earned $1.59 EPS.

A number of other research analysts also recently commented on MUR. BMO Capital Markets reduced their price objective on shares of Murphy Oil from $42.00 to $40.00 and set a “market perform” rating on the stock in a research note on Friday, October 4th. Truist Financial boosted their price objective on shares of Murphy Oil from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Monday. UBS Group cut their price target on Murphy Oil from $38.00 to $34.00 and set a “neutral” rating on the stock in a report on Monday, December 9th. KeyCorp dropped their target price on Murphy Oil from $54.00 to $50.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Finally, Barclays lowered their price target on shares of Murphy Oil from $38.00 to $37.00 and set an “equal weight” rating for the company in a research report on Monday, November 11th. Ten analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $39.58.

Murphy Oil Price Performance

MUR stock opened at $33.93 on Monday. The company has a market capitalization of $4.95 billion, a PE ratio of 10.95 and a beta of 2.17. The company has a quick ratio of 0.65, a current ratio of 0.71 and a debt-to-equity ratio of 0.24. The stock’s 50 day moving average is $31.34 and its two-hundred day moving average is $34.81. Murphy Oil has a 52-week low of $27.75 and a 52-week high of $49.14.

Institutional Investors Weigh In On Murphy Oil

A number of institutional investors have recently bought and sold shares of the business. Headlands Technologies LLC lifted its position in shares of Murphy Oil by 1,434.5% in the second quarter. Headlands Technologies LLC now owns 1,289 shares of the oil and gas producer’s stock worth $53,000 after purchasing an additional 1,205 shares in the last quarter. American Century Companies Inc. lifted its position in Murphy Oil by 3.3% in the 2nd quarter. American Century Companies Inc. now owns 845,282 shares of the oil and gas producer’s stock worth $34,859,000 after buying an additional 27,106 shares in the last quarter. Qsemble Capital Management LP acquired a new stake in shares of Murphy Oil during the 2nd quarter valued at $389,000. Federated Hermes Inc. grew its holdings in shares of Murphy Oil by 385.5% during the 2nd quarter. Federated Hermes Inc. now owns 81,018 shares of the oil and gas producer’s stock valued at $3,341,000 after acquiring an additional 64,329 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. increased its stake in shares of Murphy Oil by 24.2% in the second quarter. Oppenheimer Asset Management Inc. now owns 166,316 shares of the oil and gas producer’s stock worth $6,859,000 after acquiring an additional 32,411 shares during the last quarter. 78.31% of the stock is currently owned by institutional investors and hedge funds.

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.