Capital One Financial Weighs in on Murphy Oil Co.’s Q2 2024 Earnings (NYSE:MUR)

Murphy Oil Co. (NYSE:MURFree Report) – Equities researchers at Capital One Financial lowered their Q2 2024 earnings per share estimates for Murphy Oil in a research report issued on Monday, June 17th. Capital One Financial analyst B. Velie now anticipates that the oil and gas producer will post earnings of $0.61 per share for the quarter, down from their prior estimate of $1.00. The consensus estimate for Murphy Oil’s current full-year earnings is $4.22 per share. Capital One Financial also issued estimates for Murphy Oil’s Q4 2024 earnings at $1.35 EPS.

A number of other research firms have also weighed in on MUR. Mizuho boosted their target price on Murphy Oil from $55.00 to $59.00 and gave the company a “buy” rating in a research note on Monday, May 13th. Barclays assumed coverage on shares of Murphy Oil in a report on Wednesday, April 10th. They issued an “equal weight” rating and a $54.00 price objective for the company. Roth Mkm restated a “buy” rating on shares of Murphy Oil in a report on Wednesday, March 20th. Piper Sandler lifted their price target on Murphy Oil from $49.00 to $55.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. Finally, Scotiabank downgraded Murphy Oil from a “sector outperform” rating to a “sector perform” rating and increased their target price for the company from $46.00 to $50.00 in a research note on Thursday, April 11th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Murphy Oil has an average rating of “Moderate Buy” and a consensus target price of $51.00.

Check Out Our Latest Analysis on Murphy Oil

Murphy Oil Stock Up 2.2 %

MUR stock opened at $39.71 on Wednesday. Murphy Oil has a twelve month low of $36.34 and a twelve month high of $49.14. The company has a quick ratio of 0.87, a current ratio of 0.93 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $6.06 billion, a PE ratio of 11.06 and a beta of 2.21. The stock has a 50-day simple moving average of $43.00 and a two-hundred day simple moving average of $42.08.

Murphy Oil (NYSE:MURGet Free Report) last released its quarterly earnings results on Thursday, May 2nd. The oil and gas producer reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.03. The business had revenue of $794.80 million for the quarter, compared to analysts’ expectations of $750.94 million. Murphy Oil had a net margin of 16.40% and a return on equity of 11.75%. The firm’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.24 earnings per share.

Murphy Oil Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 20th were issued a $0.30 dividend. The ex-dividend date of this dividend was Friday, May 17th. This represents a $1.20 dividend on an annualized basis and a yield of 3.02%. Murphy Oil’s payout ratio is currently 33.43%.

Institutional Trading of Murphy Oil

Large investors have recently added to or reduced their stakes in the stock. Bruce G. Allen Investments LLC purchased a new stake in shares of Murphy Oil in the 4th quarter valued at $29,000. Rise Advisors LLC acquired a new position in Murphy Oil in the 1st quarter valued at about $30,000. Lindbrook Capital LLC raised its stake in shares of Murphy Oil by 47.7% during the first quarter. Lindbrook Capital LLC now owns 721 shares of the oil and gas producer’s stock worth $33,000 after purchasing an additional 233 shares during the last quarter. Headinvest LLC purchased a new position in Murphy Oil during the 3rd quarter worth $70,000. Finally, Benjamin F. Edwards & Company Inc. lifted its position in Murphy Oil by 27.0% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 2,105 shares of the oil and gas producer’s stock valued at $96,000 after purchasing an additional 447 shares during the period. 78.31% of the stock is currently owned by hedge funds and other institutional investors.

Murphy Oil Company Profile

(Get Free Report)

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.

See Also

Earnings History and Estimates for Murphy Oil (NYSE:MUR)

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