Q3 Earnings Forecast for Murphy Oil Issued By Zacks Research

Murphy Oil Co. (NYSE:MUR) – Zacks Research dropped their Q3 2024 earnings estimates for shares of Murphy Oil in a report released on Monday, October 28th. Zacks Research analyst J. Saha now expects 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 issued its quarterly earnings data on Thursday, August 8th. The oil and gas producer reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.08. Murphy Oil had a return on equity of 11.68% and a net margin of 17.32%. The company had revenue of $802.80 million during the quarter, compared to analysts’ expectations of $813.97 million. During the same quarter in the previous year, the company posted $0.79 earnings per share. The business’s revenue was down 1.4% on a year-over-year basis.

Other research analysts have also recently issued research reports about the company. Truist Financial lowered their price objective on Murphy Oil from $55.00 to $42.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. BMO Capital Markets lowered their price target on shares of Murphy Oil from $42.00 to $40.00 and set a “market perform” rating on the stock in a research report on Friday, October 4th. KeyCorp cut their price objective 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. UBS Group dropped their price target on shares of Murphy Oil from $45.00 to $39.00 and set a “neutral” rating for the company in a research report on Wednesday, September 18th. Finally, Mizuho cut their price target on Murphy Oil from $59.00 to $50.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Ten investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $41.17.

Murphy Oil Stock Performance

NYSE:MUR opened at $31.46 on Wednesday. The stock has a 50 day simple moving average of $34.92 and a 200 day simple moving average of $39.13. The stock has a market cap of $4.59 billion, a P/E ratio of 8.28 and a beta of 2.20. Murphy Oil has a 1-year low of $31.12 and a 1-year high of $49.14. The company has a current ratio of 0.82, a quick ratio of 0.76 and a debt-to-equity ratio of 0.23.

Murphy Oil Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.81%. The ex-dividend date is Monday, November 18th. Murphy Oil’s dividend payout ratio (DPR) is presently 31.58%.

Institutional Inflows and Outflows

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

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.