Brokers Set Expectations for Murphy Oil Co.’s Q1 2024 Earnings (NYSE:MUR)

Murphy Oil Co. (NYSE:MUR) – Equities researchers at Capital One Financial lifted their Q1 2024 earnings per share estimates for shares of Murphy Oil in a research note issued to investors on Wednesday, April 3rd. Capital One Financial analyst B. Velie now anticipates that the oil and gas producer will post earnings per share of $1.08 for the quarter, up from their previous estimate of $0.87. The consensus estimate for Murphy Oil’s current full-year earnings is $4.51 per share. Capital One Financial also issued estimates for Murphy Oil’s Q2 2024 earnings at $1.35 EPS, Q3 2024 earnings at $1.42 EPS, Q4 2024 earnings at $1.48 EPS, FY2024 earnings at $5.32 EPS and FY2025 earnings at $7.36 EPS.

Murphy Oil (NYSE:MUR) last issued its earnings results on Thursday, January 25th. The oil and gas producer reported $0.90 earnings per share for the quarter, missing the consensus estimate of $1.00 by ($0.10). Murphy Oil had a return on equity of 13.02% and a net margin of 19.12%. The firm had revenue of $844.20 million during the quarter, compared to analysts’ expectations of $852.24 million. During the same period last year, the business posted $1.10 earnings per share. The company’s quarterly revenue was down 13.4% compared to the same quarter last year.

MUR has been the topic of several other reports. Roth Mkm reissued a “buy” rating on shares of Murphy Oil in a research report on Wednesday, March 20th. JPMorgan Chase & Co. raised their price objective on Murphy Oil from $51.00 to $52.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. Piper Sandler cut their price objective on Murphy Oil from $50.00 to $49.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 30th. UBS Group cut their price objective on Murphy Oil from $45.00 to $43.00 and set a “neutral” rating on the stock in a research report on Monday, January 29th. Finally, Mizuho reissued a “buy” rating and issued a $53.00 price objective (up from $50.00) on shares of Murphy Oil in a research report on Thursday, March 21st. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Murphy Oil currently has an average rating of “Moderate Buy” and a consensus price target of $47.55.

Murphy Oil Trading Down 0.5 %

NYSE:MUR opened at $47.92 on Monday. The business’s 50-day moving average is $41.83 and its two-hundred day moving average is $42.51. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.89 and a quick ratio of 0.82. Murphy Oil has a 12 month low of $32.80 and a 12 month high of $49.14. The firm has a market capitalization of $7.31 billion, a PE ratio of 11.36 and a beta of 2.21.

Murphy Oil Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Friday, May 17th. This represents a $1.20 dividend on an annualized basis and a yield of 2.50%. Murphy Oil’s dividend payout ratio (DPR) is 28.44%.

Insider Buying and Selling

In related news, VP Maria A. Martinez sold 10,000 shares of Murphy Oil stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $43.35, for a total value of $433,500.00. Following the completion of the transaction, the vice president now directly owns 40,590 shares in the company, valued at $1,759,576.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Roger W. Jenkins sold 110,000 shares of Murphy Oil 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 transaction, the chief executive officer now directly owns 1,035,190 shares in the company, valued at $41,811,324.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Maria A. Martinez sold 10,000 shares of Murphy Oil stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $43.35, for a total value of $433,500.00. Following the completion of the transaction, the vice president now owns 40,590 shares of the company’s stock, valued at $1,759,576.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 156,260 shares of company stock worth $6,322,644. Corporate insiders own 5.92% of the company’s stock.

Hedge Funds Weigh In On Murphy Oil

A number of hedge funds have recently bought and sold shares of MUR. Rise Advisors LLC acquired a new position in Murphy Oil in the first quarter valued at approximately $30,000. CWM LLC boosted its stake in Murphy Oil by 14.0% in the first quarter. CWM LLC now owns 2,547 shares of the oil and gas producer’s stock valued at $116,000 after acquiring an additional 313 shares during the period. Moody National Bank Trust Division boosted its stake in Murphy Oil by 6.7% in the first quarter. Moody National Bank Trust Division now owns 20,543 shares of the oil and gas producer’s stock valued at $939,000 after acquiring an additional 1,285 shares during the period. Abel Hall LLC acquired a new position in Murphy Oil in the fourth quarter valued at approximately $238,000. Finally, Quarry LP boosted its stake in Murphy Oil by 8.3% in the fourth quarter. Quarry LP now owns 9,656 shares of the oil and gas producer’s stock valued at $412,000 after acquiring an additional 744 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.