Murphy Oil (NYSE:MUR) Issues Quarterly Earnings Results, Misses Expectations By $0.02 EPS

Murphy Oil (NYSE:MUR) released its earnings results on Wednesday. The oil and gas producer reported $1.55 EPS for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.02), FiscalAI reports. Murphy Oil had a return on equity of 3.09% and a net margin of 3.02%.The firm had revenue of $926.33 million for the quarter, compared to the consensus estimate of $888.51 million. During the same quarter in the previous year, the business posted $0.27 EPS. Murphy Oil’s revenue was up 33.5% on a year-over-year basis.

Murphy Oil Price Performance

NYSE MUR traded down $2.35 on Wednesday, reaching $36.03. The company had a trading volume of 2,365,619 shares, compared to its average volume of 1,484,768. The stock has a market capitalization of $5.17 billion, a PE ratio of 61.07 and a beta of 0.50. Murphy Oil has a 12 month low of $21.86 and a 12 month high of $43.34. The company has a quick ratio of 0.77, a current ratio of 0.83 and a debt-to-equity ratio of 0.30. The firm’s 50 day moving average price is $36.27 and its 200 day moving average price is $36.26.

Analyst Ratings Changes

A number of analysts have recently issued reports on MUR shares. Jefferies Financial Group cut shares of Murphy Oil from a “buy” rating to an “underperform” rating in a research note on Thursday, June 4th. Barclays upped their target price on shares of Murphy Oil from $36.00 to $43.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 26th. Weiss Ratings reiterated a “hold (c)” rating on shares of Murphy Oil in a research note on Wednesday, June 24th. UBS Group cut their price target on Murphy Oil from $44.00 to $41.00 and set a “neutral” rating for the company in a research note on Tuesday, July 21st. Finally, Wall Street Zen cut Murphy Oil from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. Three investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $38.33.

Institutional Investors Weigh In On Murphy Oil

Large investors have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Murphy Oil by 1.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 84,061 shares of the oil and gas producer’s stock valued at $2,387,000 after buying an additional 1,419 shares in the last quarter. United Services Automobile Association purchased a new stake in shares of Murphy Oil during the 1st quarter worth approximately $265,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Murphy Oil by 22.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 249,094 shares of the oil and gas producer’s stock worth $7,074,000 after acquiring an additional 45,841 shares in the last quarter. Cetera Investment Advisers raised its holdings in shares of Murphy Oil by 9.8% during the 2nd quarter. Cetera Investment Advisers now owns 31,471 shares of the oil and gas producer’s stock worth $708,000 after acquiring an additional 2,819 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Murphy Oil by 437.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,802 shares of the oil and gas producer’s stock valued at $86,000 after acquiring an additional 3,095 shares during the last quarter. 78.31% of the stock is owned by institutional investors.

Murphy Oil Company Profile

Murphy Oil Corporation is an independent upstream oil and gas company engaged in the exploration, development and production of crude oil, natural gas and natural gas liquids. The company’s operations encompass conventional onshore and offshore reservoirs, with an emphasis on liquids-rich properties and deepwater assets. Through a combination of proprietary technologies and strategic joint ventures, Murphy Oil seeks to optimize recovery rates and manage its portfolio to balance long-term resource development with operational flexibility.

Murphy Oil’s exploration and production activities are geographically diversified.