Q3 2024 EPS Estimates for Murphy Oil Co. Lowered by Capital One Financial (NYSE:MUR)

Murphy Oil Co. (NYSE:MUR) – Stock analysts at Capital One Financial decreased their Q3 2024 earnings per share estimates for shares of Murphy Oil in a research note issued to investors on Tuesday, September 17th. Capital One Financial analyst B. Velie now expects that the oil and gas producer will post earnings per share of $0.73 for the quarter, down from their prior forecast of $1.03. The consensus estimate for Murphy Oil’s current full-year earnings is $3.99 per share. Capital One Financial also issued estimates for Murphy Oil’s Q4 2024 earnings at $1.02 EPS, FY2024 earnings at $3.42 EPS, Q1 2025 earnings at $1.17 EPS, Q2 2025 earnings at $1.20 EPS, Q3 2025 earnings at $1.24 EPS, Q4 2025 earnings at $1.26 EPS, FY2025 earnings at $4.87 EPS and FY2026 earnings at $5.65 EPS.

Several other research analysts have also commented on the company. Piper Sandler cut their price objective on Murphy Oil from $54.00 to $44.00 and set an “overweight” rating on the stock in a research report on Thursday, August 15th. Mizuho dropped their target price on Murphy Oil from $59.00 to $50.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. Barclays decreased their price target on Murphy Oil from $54.00 to $46.00 and set an “equal weight” rating for the company in a report on Monday, August 12th. Scotiabank lowered shares of Murphy Oil from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 9th. Finally, Wolfe Research started coverage on shares of Murphy Oil in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Eight investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Murphy Oil has a consensus rating of “Hold” and a consensus target price of $45.00.

Murphy Oil Stock Performance

NYSE:MUR opened at $35.62 on Friday. The firm’s fifty day simple moving average is $37.64 and its 200 day simple moving average is $41.26. The company has a current ratio of 0.82, a quick ratio of 0.76 and a debt-to-equity ratio of 0.23. Murphy Oil has a twelve month low of $33.15 and a twelve month high of $49.14. The firm has a market capitalization of $5.43 billion, a price-to-earnings ratio of 9.92 and a beta of 2.21.

Murphy Oil (NYSE:MUR) last announced its quarterly earnings results on Thursday, August 8th. The oil and gas producer reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.08. Murphy Oil had a net margin of 17.32% and a return on equity of 11.68%. The firm had revenue of $802.80 million for the quarter, compared to analysts’ expectations of $813.97 million. During the same period in the previous year, the company posted $0.79 earnings per share. Murphy Oil’s revenue was down 1.4% compared to the same quarter last year.

Hedge Funds Weigh In On Murphy Oil

Several large investors have recently modified their holdings of MUR. Private Advisor Group LLC bought a new position in Murphy Oil during the 4th quarter worth approximately $304,000. Corient Private Wealth LLC boosted its holdings in Murphy Oil by 5.0% in the fourth quarter. Corient Private Wealth LLC now owns 48,261 shares of the oil and gas producer’s stock worth $2,059,000 after purchasing an additional 2,277 shares during the period. United Services Automobile Association boosted its holdings in Murphy Oil by 10.1% in the fourth quarter. United Services Automobile Association now owns 12,455 shares of the oil and gas producer’s stock worth $531,000 after purchasing an additional 1,146 shares during the period. Innealta Capital LLC bought a new stake in Murphy Oil during the fourth quarter valued at $298,000. Finally, Olympiad Research LP acquired a new stake in shares of Murphy Oil during the fourth quarter worth $339,000. Institutional investors own 78.31% of the company’s stock.

Murphy Oil Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 19th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $1.20 dividend on an annualized basis and a yield of 3.37%. Murphy Oil’s dividend payout ratio (DPR) is 33.43%.

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.