Equities analysts forecast that Murphy Oil Co. (NYSE:MUR) will report sales of $757.02 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Murphy Oil’s earnings. The lowest sales estimate is $720.97 million and the highest is $841.50 million. Murphy Oil reported sales of $692.01 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 9.4%. The firm is expected to report its next quarterly earnings results on Thursday, January 30th.
On average, analysts expect that Murphy Oil will report full-year sales of $2.90 billion for the current fiscal year, with estimates ranging from $2.66 billion to $3.17 billion. For the next financial year, analysts anticipate that the company will post sales of $2.92 billion, with estimates ranging from $2.78 billion to $3.16 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Murphy Oil.
Murphy Oil (NYSE:MUR) last released its quarterly earnings results on Thursday, October 31st. The oil and gas producer reported $0.36 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.14. The company had revenue of $817.08 million during the quarter, compared to analysts’ expectations of $701.64 million. Murphy Oil had a return on equity of 3.21% and a net margin of 47.16%. The company’s revenue for the quarter was up 66.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.02) earnings per share.
Several equities analysts have commented on MUR shares. UBS Group lowered their target price on shares of Murphy Oil from $29.00 to $27.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 1st. BMO Capital Markets started coverage on shares of Murphy Oil in a research note on Monday, September 30th. They issued an “outperform” rating and a $27.00 price target for the company. ValuEngine upgraded shares of Murphy Oil from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Howard Weil cut shares of Murphy Oil from a “sector outperform” rating to a “sector perform” rating in a report on Wednesday, November 13th. Finally, MKM Partners set a $38.00 target price on Murphy Oil and gave the stock a “buy” rating in a report on Monday, August 12th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have given a buy rating to the company. Murphy Oil presently has an average rating of “Hold” and an average price target of $30.47.
Shares of NYSE MUR opened at $23.28 on Friday. The stock has a market cap of $3.62 billion, a P/E ratio of 18.48 and a beta of 2.09. The firm’s 50-day simple moving average is $22.22 and its 200 day simple moving average is $22.41. Murphy Oil has a fifty-two week low of $17.04 and a fifty-two week high of $33.21. The company has a quick ratio of 1.14, a current ratio of 1.23 and a debt-to-equity ratio of 0.54.
The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 18th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.30%. The ex-dividend date was Friday, November 15th. Murphy Oil’s payout ratio is presently 79.37%.
In related news, SVP Thomas J. Mireles sold 1,368 shares of Murphy Oil stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $24.64, for a total value of $33,707.52. Following the completion of the transaction, the senior vice president now directly owns 20,000 shares of the company’s stock, valued at $492,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 6.46% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in MUR. Municipal Employees Retirement System of Michigan boosted its stake in shares of Murphy Oil by 1.4% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 30,080 shares of the oil and gas producer’s stock valued at $741,000 after purchasing an additional 420 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its stake in shares of Murphy Oil by 10.8% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 5,768 shares of the oil and gas producer’s stock valued at $142,000 after acquiring an additional 560 shares during the last quarter. First Hawaiian Bank lifted its stake in shares of Murphy Oil by 3.8% in the 2nd quarter. First Hawaiian Bank now owns 16,062 shares of the oil and gas producer’s stock valued at $396,000 after acquiring an additional 583 shares during the last quarter. United Asset Strategies Inc. boosted its holdings in shares of Murphy Oil by 3.8% during the 2nd quarter. United Asset Strategies Inc. now owns 18,599 shares of the oil and gas producer’s stock valued at $458,000 after acquiring an additional 675 shares in the last quarter. Finally, World Asset Management Inc boosted its holdings in shares of Murphy Oil by 5.6% during the 3rd quarter. World Asset Management Inc now owns 14,453 shares of the oil and gas producer’s stock valued at $320,000 after acquiring an additional 762 shares in the last quarter. 94.97% of the stock is currently owned by institutional investors and hedge funds.
About Murphy Oil
Murphy Oil Corporation operates as an oil and gas exploration and production company in the United States, Canada, Malaysia, 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.
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