Murphy Oil Q3 EPS Forecast Cut by Capital One Financial

Murphy Oil Co. (NYSE:MUR - Free Report) - Equities researchers at Capital One Financial lowered their Q3 2024 earnings estimates for shares of Murphy Oil in a report issued on Wednesday, October 16th. Capital One Financial analyst B. Velie now anticipates that the oil and gas producer will post earnings of $0.66 per share for the quarter, down from their previous forecast of $0.73. The consensus estimate for Murphy Oil's current full-year earnings is $3.47 per share. Capital One Financial also issued estimates for Murphy Oil's FY2024 earnings at $3.34 EPS.

Other analysts have also recently issued reports about the stock. Barclays decreased their target price on shares of Murphy Oil from $46.00 to $38.00 and set an "equal weight" rating on the stock in a research report on Thursday, October 3rd. Piper Sandler decreased their target price on shares of Murphy Oil from $44.00 to $43.00 and set an "overweight" rating on the stock in a research report on Tuesday. JPMorgan Chase & Co. reduced their price objective on shares of Murphy Oil from $47.00 to $39.00 and set a "neutral" rating on the stock in a research report on Thursday, September 12th. Wolfe Research began coverage on shares of Murphy Oil in a research report on Thursday, July 18th. They issued a "peer perform" rating on the stock. Finally, Wells Fargo & Company reduced their price objective on shares of Murphy Oil from $41.00 to $39.00 and set an "equal weight" rating on the stock in a research report on Friday, September 27th. Ten investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Murphy Oil presently has a consensus rating of "Hold" and a consensus price target of $41.17.

Murphy Oil Price Performance

Shares of NYSE MUR traded down $0.10 during mid-day trading on Friday, hitting $33.04. 1,241,135 shares of the company's stock traded hands, compared to its average volume of 1,679,731. The company's 50-day moving average is $35.60 and its two-hundred day moving average is $40.01. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.82 and a quick ratio of 0.76. The company has a market capitalization of $5.04 billion, a P/E ratio of 9.20 and a beta of 2.20. Murphy Oil has a 1 year low of $32.53 and a 1 year high of $49.14.

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

Murphy Oil Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be paid a dividend of $0.30 per share. The ex-dividend date is Monday, November 18th. This represents a $1.20 annualized dividend and a dividend yield of 3.63%. Murphy Oil's payout ratio is currently 33.43%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Duality Advisers LP lifted its position in Murphy Oil by 364.6% during the first quarter. Duality Advisers LP now owns 113,451 shares of the oil and gas producer's stock valued at $5,185,000 after purchasing an additional 89,032 shares during the period. O Shaughnessy Asset Management LLC lifted its position in Murphy Oil by 138.8% during the first quarter. O Shaughnessy Asset Management LLC now owns 29,702 shares of the oil and gas producer's stock valued at $1,357,000 after purchasing an additional 17,265 shares during the period. QRG Capital Management Inc. lifted its position in Murphy Oil by 4.0% during the first quarter. QRG Capital Management Inc. now owns 15,642 shares of the oil and gas producer's stock valued at $715,000 after purchasing an additional 599 shares during the period. Janney Montgomery Scott LLC acquired a new position in Murphy Oil during the first quarter valued at $1,022,000. Finally, Mutual of America Capital Management LLC lifted its position in Murphy Oil by 21.2% during the second quarter. Mutual of America Capital Management LLC now owns 218,739 shares of the oil and gas producer's stock valued at $9,021,000 after purchasing an additional 38,334 shares during the period. 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.