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

Murphy Oil Co. (NYSE:MUR) – Equities research analysts at Roth Capital cut their Q2 2024 EPS estimates for Murphy Oil in a note issued to investors on Thursday, May 2nd. Roth Capital analyst L. Mariani now expects that the oil and gas producer will post earnings of $0.95 per share for the quarter, down from their prior estimate 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 data on Thursday, May 2nd. The oil and gas producer reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.03. The company had revenue of $794.80 million during the quarter, compared to analysts’ expectations of $750.94 million. Murphy Oil had a net margin of 16.40% and a return on equity of 11.75%. The business’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.24 EPS.

MUR has been the subject of a number of other research reports. Mizuho increased their target price on shares of Murphy Oil from $53.00 to $55.00 and gave the stock a “buy” rating in a research report on Monday, April 15th. 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 for the company in a research report on Monday, January 29th. KeyCorp raised their price objective on Murphy Oil from $50.00 to $54.00 and gave the company an “overweight” rating in a research report on Monday, April 22nd. Finally, JPMorgan Chase & Co. upped their target price on Murphy Oil from $51.00 to $52.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $50.64.

Murphy Oil Price Performance

MUR stock opened at $44.75 on Monday. The company has a market cap of $6.83 billion, a PE ratio of 12.46 and a beta of 2.22. The company has a current ratio of 0.93, a quick ratio of 0.87 and a debt-to-equity ratio of 0.24. The stock has a 50-day moving average price of $44.66 and a two-hundred day moving average price of $42.57. Murphy Oil has a 12-month low of $32.80 and a 12-month high of $49.14.

Murphy Oil Dividend Announcement

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

Insider Transactions at Murphy Oil

In other Murphy Oil news, CEO Roger W. Jenkins sold 110,000 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $40.39, for a total transaction of $4,442,900.00. Following the transaction, the chief executive officer now directly owns 1,035,190 shares in the company, valued at approximately $41,811,324.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Roger W. Jenkins sold 110,000 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $40.39, for a total value of $4,442,900.00. Following the completion of the sale, the chief executive officer now directly owns 1,035,190 shares of the company’s stock, valued at $41,811,324.10. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Louis W. Utsch sold 30,260 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $39.94, for a total value of $1,208,584.40. Following the transaction, the vice president now directly owns 9,504 shares in the company, valued at approximately $379,589.76. The disclosure for this sale can be found here. Over the last quarter, insiders sold 156,260 shares of company stock valued at $6,322,644. 5.95% of the stock is currently owned by corporate insiders.

Institutional Trading of Murphy Oil

A number of institutional investors and hedge funds have recently modified their holdings of MUR. Vanguard Group Inc. raised its stake in Murphy Oil by 0.8% during the third quarter. Vanguard Group Inc. now owns 16,816,692 shares of the oil and gas producer’s stock worth $762,637,000 after acquiring an additional 137,059 shares during the period. Comerica Bank bought a new position in Murphy Oil during the 3rd quarter worth $4,937,000. Inspire Investing LLC increased its position in Murphy Oil by 21.1% in the third quarter. Inspire Investing LLC now owns 31,974 shares of the oil and gas producer’s stock worth $1,450,000 after buying an additional 5,574 shares during the period. Arizona State Retirement System lifted its stake in Murphy Oil by 1.4% in the third quarter. Arizona State Retirement System now owns 42,223 shares of the oil and gas producer’s stock valued at $1,915,000 after buying an additional 570 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of Murphy Oil by 0.3% during the third quarter. Principal Financial Group Inc. now owns 557,463 shares of the oil and gas producer’s stock valued at $25,281,000 after acquiring an additional 1,629 shares during the period. 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.