Q3 Earnings Forecast for Murphy Oil Issued By Zacks Research

Murphy Oil Co. (NYSE:MUR) – Research analysts at Zacks Research reduced their Q3 2024 EPS estimates for shares of Murphy Oil in a report issued on Monday, October 28th. Zacks Research analyst J. Saha now forecasts that the oil and gas producer will post earnings of $0.99 per share for the quarter, down from their previous estimate of $1.03. The consensus estimate for Murphy Oil’s current full-year earnings is $3.46 per share. Zacks Research also issued estimates for Murphy Oil’s Q4 2024 earnings at $1.12 EPS, FY2024 earnings at $3.76 EPS, Q1 2025 earnings at $1.20 EPS, Q2 2025 earnings at $0.98 EPS, Q3 2025 earnings at $1.29 EPS, Q4 2025 earnings at $1.29 EPS, FY2025 earnings at $4.76 EPS, Q1 2026 earnings at $1.30 EPS, Q2 2026 earnings at $1.14 EPS, Q3 2026 earnings at $1.48 EPS and FY2026 earnings at $5.34 EPS.

Murphy Oil (NYSE:MUR) last released its quarterly earnings results on Thursday, August 8th. The oil and gas producer reported $0.81 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $813.97 million. During the same quarter in the prior year, the firm earned $0.79 EPS. The company’s revenue for the quarter was down 1.4% on a year-over-year basis.

Other research analysts have also issued research reports about the company. Truist Financial decreased their price objective on Murphy Oil from $55.00 to $42.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Wolfe Research initiated coverage on shares of Murphy Oil in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Piper Sandler cut their price objective on shares of Murphy Oil from $44.00 to $43.00 and set an “overweight” rating for the company in a report on Tuesday, October 15th. KeyCorp lowered their target price on Murphy Oil from $54.00 to $50.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Finally, Morgan Stanley cut their price target 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. Ten investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $41.17.

Murphy Oil Stock Performance

NYSE MUR opened at $31.23 on Wednesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.82 and a quick ratio of 0.76. Murphy Oil has a 1-year low of $31.12 and a 1-year high of $49.14. The company has a market cap of $4.55 billion, a PE ratio of 8.22 and a beta of 2.20. The stock’s 50 day simple moving average is $34.92 and its 200-day simple moving average is $39.13.

Murphy Oil Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.20 annualized dividend and a yield of 3.84%. Murphy Oil’s dividend payout ratio (DPR) is currently 31.58%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. International Assets Investment Management LLC lifted its holdings in shares of Murphy Oil by 3,191.6% in the 3rd quarter. International Assets Investment Management LLC now owns 1,627,268 shares of the oil and gas producer’s stock worth $54,904,000 after acquiring an additional 1,577,831 shares during the last quarter. Wedge Capital Management L L P NC lifted its stake in Murphy Oil by 641.7% during the third quarter. Wedge Capital Management L L P NC now owns 672,717 shares of the oil and gas producer’s stock worth $22,697,000 after purchasing an additional 582,020 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Murphy Oil by 90.5% during the second quarter. Assenagon Asset Management S.A. now owns 1,092,374 shares of the oil and gas producer’s stock worth $45,050,000 after buying an additional 518,904 shares during the period. Squarepoint Ops LLC boosted its position in shares of Murphy Oil by 92.1% during the second quarter. Squarepoint Ops LLC now owns 687,254 shares of the oil and gas producer’s stock worth $28,342,000 after buying an additional 329,521 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Murphy Oil by 3.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 8,254,125 shares of the oil and gas producer’s stock valued at $340,400,000 after buying an additional 262,256 shares during the period. Institutional investors and hedge funds own 78.31% of the company’s stock.

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.