Research Analysts Issue Forecasts for Murphy Oil Q3 Earnings

Murphy Oil Corporation (NYSE:MUR) – Investment analysts at Zacks Research cut their Q3 2028 earnings per share (EPS) estimates for shares of Murphy Oil in a research note issued on Monday, September 28th. Zacks Research analyst Team now anticipates that the oil and gas producer will post earnings of $0.72 per share for the quarter, down from their previous estimate of $0.74. The consensus estimate for Murphy Oil’s current full-year earnings is $2.64 per share.

Murphy Oil (NYSE:MUR) last announced its quarterly earnings results on Wednesday, August 5th. The oil and gas producer reported $1.55 earnings per share for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.02). Murphy Oil had a net margin of 9.74% and a return on equity of 6.63%. The firm had revenue of $926.33 million during the quarter, compared to analyst estimates of $888.51 million. During the same quarter in the prior year, the business earned $0.27 earnings per share. The business’s revenue was up 33.5% on a year-over-year basis.

Other equities research analysts have also issued reports about the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Murphy Oil in a report on Monday, September 21st. Morgan Stanley reissued an “underweight” rating and issued a $36.00 price target on shares of Murphy Oil in a report on Wednesday, August 19th. Wall Street Zen cut shares of Murphy Oil from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. UBS Group dropped their price objective on Murphy Oil from $41.00 to $38.00 and set a “neutral” rating on the stock in a research note on Friday, August 7th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $34.00 target price on shares of Murphy Oil in a report on Monday, September 7th. Four analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $37.83.

Murphy Oil Stock Up 0.6%

Shares of NYSE MUR opened at $37.71 on Friday. The stock has a market cap of $5.41 billion, a P/E ratio of 18.67 and a beta of 0.59. The firm has a 50 day moving average price of $36.78 and a 200 day moving average price of $37.37. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.80 and a current ratio of 0.85. Murphy Oil has a 52-week low of $26.49 and a 52-week high of $43.34.

Murphy Oil Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th were paid a $0.35 dividend. The ex-dividend date of this dividend was Monday, August 17th. This represents a $1.40 dividend on an annualized basis and a yield of 3.7%. Murphy Oil’s payout ratio is presently 69.31%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. QRG Capital Management Inc. lifted its position in Murphy Oil by 10.3% in the 2nd quarter. QRG Capital Management Inc. now owns 11,819 shares of the oil and gas producer’s stock valued at $385,000 after acquiring an additional 1,100 shares in the last quarter. SailingStone Capital Partners LLC bought a new position in Murphy Oil during the 2nd quarter worth about $15,852,000. Engineers Gate Manager LP increased its holdings in Murphy Oil by 1,446.9% during the 2nd quarter. Engineers Gate Manager LP now owns 93,896 shares of the oil and gas producer’s stock worth $3,057,000 after purchasing an additional 87,826 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of Murphy Oil in the 2nd quarter valued at about $113,000. Finally, Arizona State Retirement System raised its stake in shares of Murphy Oil by 0.9% in the 2nd quarter. Arizona State Retirement System now owns 37,576 shares of the oil and gas producer’s stock valued at $1,223,000 after purchasing an additional 330 shares during the period. Institutional investors and hedge funds own 78.31% of the company’s stock.

About Murphy Oil

Murphy Oil Corporation (NYSE:MUR) is an independent oil and natural gas exploration and production company. Its activities include identifying, acquiring, developing and producing crude oil, natural gas and natural gas liquids.

The company’s current operations are concentrated in the United States and Canada. In the United States, Murphy Oil has assets in the Eagle Ford and Gulf Coast onshore regions, as well as interests in the Gulf of Mexico. In Canada, the company operates in Western Canadian plays, including the Tupper Montney area.

Murphy Oil was incorporated in 1950 and has historically pursued exploration and production opportunities in several international markets in addition to North America.