FY2024 Earnings Forecast for Murphy Oil Issued By Scotiabank

Murphy Oil Co. (NYSE:MUR - Free Report) - Stock analysts at Scotiabank issued their FY2024 earnings per share (EPS) estimates for Murphy Oil in a research report issued on Wednesday, January 8th. Scotiabank analyst P. Cheng forecasts that the oil and gas producer will earn $3.05 per share for the year. Scotiabank has a "Sector Perform" rating and a $36.00 price objective 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 - Get Free Report) last released its earnings results on Thursday, November 7th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.76 by ($0.02). The business had revenue of $758.33 million during the quarter, compared to the consensus estimate of $759.74 million. Murphy Oil had a net margin of 14.78% and a return on equity of 9.22%. The business's revenue was down 21.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.59 EPS.

Other analysts have also recently issued research reports about the stock. Barclays decreased their target price on shares of Murphy Oil from $38.00 to $37.00 and set an "equal weight" rating on the stock in a research note on Monday, November 11th. The Goldman Sachs Group lowered their target price on Murphy Oil from $44.00 to $39.00 and set a "neutral" rating for the company in a report on Monday, October 7th. Morgan Stanley dropped their target price on Murphy Oil from $43.00 to $39.00 and set an "equal weight" rating for the company in a research report on Monday, September 16th. UBS Group reduced 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. Finally, Mizuho dropped their price objective on shares of Murphy Oil from $50.00 to $45.00 and set an "outperform" rating for the company in a report on Monday, December 16th. 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, Murphy Oil currently has an average rating of "Hold" and a consensus target price of $39.58.

Murphy Oil Trading Up 1.7 %

Shares of Murphy Oil stock opened at $33.34 on Monday. The firm has a market capitalization of $4.86 billion, a PE ratio of 10.75 and a beta of 2.17. The company has a current ratio of 0.71, a quick ratio of 0.65 and a debt-to-equity ratio of 0.24. The firm's 50 day moving average is $31.30 and its 200 day moving average is $34.86. Murphy Oil has a 1 year low of $27.75 and a 1 year high of $49.14.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in MUR. Lindenwold Advisors INC lifted its stake in Murphy Oil by 3.5% in the third quarter. Lindenwold Advisors INC now owns 10,529 shares of the oil and gas producer's stock valued at $355,000 after buying an additional 358 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in shares of Murphy Oil by 16.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,140 shares of the oil and gas producer's stock valued at $129,000 after acquiring an additional 438 shares during the period. Harbor Capital Advisors Inc. boosted its stake in Murphy Oil by 1.8% during the fourth quarter. Harbor Capital Advisors Inc. now owns 25,069 shares of the oil and gas producer's stock worth $759,000 after acquiring an additional 450 shares in the last quarter. Clear Creek Financial Management LLC grew its holdings in Murphy Oil by 8.1% in the third quarter. Clear Creek Financial Management LLC now owns 6,574 shares of the oil and gas producer's stock worth $222,000 after purchasing an additional 494 shares during the period. Finally, Covestor Ltd increased its stake in Murphy Oil by 266.8% in the third quarter. Covestor Ltd now owns 741 shares of the oil and gas producer's stock valued at $25,000 after purchasing an additional 539 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.