Murphy Oil Co. to Post Q2 2024 Earnings of $0.95 Per Share, Roth Capital Forecasts (NYSE:MUR)

Murphy Oil Co. (NYSE:MUR) – Research analysts at Roth Capital reduced their Q2 2024 earnings estimates for Murphy Oil in a research note issued to investors on Thursday, May 2nd. Roth Capital analyst L. Mariani now forecasts 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.

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

A number of other brokerages also recently weighed in on MUR. 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 decreased their price target on shares of Murphy Oil from $45.00 to $43.00 and set a “neutral” rating on the stock in a research note on Monday, January 29th. Barclays assumed coverage on shares of Murphy Oil in a research note on Wednesday, April 10th. They set an “equal weight” rating and a $54.00 price target on the stock. Scotiabank downgraded shares of Murphy Oil from a “sector outperform” rating to a “sector perform” rating and lifted their price target for the stock from $46.00 to $50.00 in a research note on Thursday, April 11th. Finally, Mizuho lifted their price target on shares of Murphy Oil from $53.00 to $55.00 and gave the stock a “buy” rating in a research note on Monday, April 15th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $50.64.

Murphy Oil Trading Up 0.6 %

Shares of MUR opened at $44.75 on Monday. The firm’s 50 day simple moving average is $44.66 and its 200 day simple moving average is $42.57. The company has a market capitalization of $6.83 billion, a P/E ratio of 12.46 and a beta of 2.22. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.93 and a quick ratio of 0.87. Murphy Oil has a 1-year low of $32.80 and a 1-year high of $49.14.

Institutional Trading of Murphy Oil

Several large investors have recently added to or reduced their stakes in MUR. Vanguard Group Inc. boosted its holdings in shares of Murphy Oil by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 16,816,692 shares of the oil and gas producer’s stock valued at $762,637,000 after buying an additional 137,059 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Murphy Oil by 2.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 7,861,968 shares of the oil and gas producer’s stock valued at $335,397,000 after buying an additional 207,547 shares in the last quarter. Earnest Partners LLC boosted its holdings in shares of Murphy Oil by 5.0% during the 3rd quarter. Earnest Partners LLC now owns 2,566,887 shares of the oil and gas producer’s stock valued at $116,408,000 after buying an additional 121,795 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Murphy Oil by 3,904.6% during the 4th quarter. International Assets Investment Management LLC now owns 2,090,904 shares of the oil and gas producer’s stock valued at $89,198,000 after buying an additional 2,038,692 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Murphy Oil by 5.4% during the 3rd quarter. Invesco Ltd. now owns 1,946,095 shares of the oil and gas producer’s stock valued at $88,255,000 after buying an additional 99,427 shares in the last quarter. Institutional investors own 78.31% of the company’s stock.

Insider Transactions at Murphy Oil

In other news, 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 transaction, the vice president now owns 11,877 shares in the company, valued at $470,447.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Louis W. Utsch sold 30,260 shares of Murphy Oil stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $39.94, for a total value of $1,208,584.40. Following the sale, the vice president now owns 9,504 shares in the company, valued at $379,589.76. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Paul D. Vaughan sold 6,000 shares of Murphy Oil stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $39.61, for a total transaction of $237,660.00. Following the completion of the sale, the vice president now owns 11,877 shares in the company, valued at approximately $470,447.97. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 156,260 shares of company stock worth $6,322,644. Insiders own 5.95% of the company’s stock.

Murphy Oil Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.68%. The ex-dividend date is Friday, May 17th. Murphy Oil’s dividend payout ratio is 33.43%.

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.