Brokers Set Expectations for Murphy Oil FY2024 Earnings

Murphy Oil Co. (NYSE:MUR - Free Report) - Equities research analysts at Capital One Financial increased their FY2024 earnings per share estimates for shares of Murphy Oil in a research note issued on Wednesday, January 8th. Capital One Financial analyst B. Velie now anticipates that the oil and gas producer will post earnings of $3.21 per share for the year, up from their prior forecast of $3.19. The consensus estimate for Murphy Oil's current full-year earnings is $3.15 per share. Capital One Financial also issued estimates for Murphy Oil's Q4 2024 earnings at $0.82 EPS, Q1 2025 earnings at $1.07 EPS, Q2 2025 earnings at $1.13 EPS, Q3 2025 earnings at $1.18 EPS, Q4 2025 earnings at $1.21 EPS, FY2025 earnings at $4.60 EPS and FY2026 earnings at $5.34 EPS.

A number of other analysts also recently weighed in on MUR. Morgan Stanley decreased their price objective on Murphy Oil from $43.00 to $39.00 and set an "equal weight" rating for the company in a report on Monday, September 16th. UBS Group decreased their price target on Murphy Oil from $38.00 to $34.00 and set a "neutral" rating for the company in a research note on Monday, December 9th. Scotiabank cut their price objective on Murphy Oil from $47.00 to $36.00 and set a "sector perform" rating on the stock in a research note on Thursday, October 10th. Mizuho reduced their target price on Murphy Oil from $50.00 to $45.00 and set an "outperform" rating on the stock in a report on Monday, December 16th. Finally, KeyCorp lowered their price target on shares of Murphy Oil from $54.00 to $50.00 and set an "overweight" rating for the company in a report on Wednesday, October 16th. Ten analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Murphy Oil has a consensus rating of "Hold" and a consensus price target of $39.58.

Murphy Oil Trading Up 1.7 %

NYSE MUR traded up $0.57 on Friday, hitting $33.34. The company's stock had a trading volume of 2,500,780 shares, compared to its average volume of 2,062,762. The company's 50-day moving average is $31.26 and its 200 day moving average is $35.00. The firm has a market cap of $4.86 billion, a PE ratio of 10.75 and a beta of 2.17. Murphy Oil has a 1-year low of $27.75 and a 1-year high of $49.14. The company has a quick ratio of 0.65, a current ratio of 0.71 and a debt-to-equity ratio of 0.24.

Murphy Oil (NYSE:MUR - Get Free Report) last released 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). Murphy Oil had a net margin of 14.78% and a return on equity of 9.22%. The firm had revenue of $758.33 million during the quarter, compared to analyst estimates of $759.74 million. During the same period in the prior year, the company earned $1.59 EPS. The business's quarterly revenue was down 21.0% compared to the same quarter last year.

Institutional Trading of Murphy Oil

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. grew its stake in Murphy Oil by 1.8% in the fourth quarter. Harbor Capital Advisors Inc. now owns 25,069 shares of the oil and gas producer's stock valued at $759,000 after acquiring an additional 450 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Murphy Oil by 21.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 7,881 shares of the oil and gas producer's stock worth $238,000 after purchasing an additional 1,379 shares in the last quarter. Everence Capital Management Inc. bought a new stake in Murphy Oil during the 4th quarter valued at $276,000. JPMorgan Chase & Co. raised its holdings in Murphy Oil by 26.7% during the third quarter. JPMorgan Chase & Co. now owns 1,595,260 shares of the oil and gas producer's stock worth $53,824,000 after buying an additional 336,372 shares during the last quarter. Finally, Neo Ivy Capital Management lifted its stake in shares of Murphy Oil by 597.6% in the third quarter. Neo Ivy Capital Management now owns 71,154 shares of the oil and gas producer's stock valued at $2,400,000 after buying an additional 60,954 shares in the last quarter. 78.31% of the stock is owned by institutional investors.

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.