Murphy Oil Co. (NYSE:MUR) to Post Q2 2024 Earnings of $0.64 Per Share, Capital One Financial Forecasts

Murphy Oil Co. (NYSE:MUR) – Capital One Financial boosted their Q2 2024 EPS estimates for shares of Murphy Oil in a research report issued to clients and investors on Wednesday, July 17th. Capital One Financial analyst B. Velie now anticipates that the oil and gas producer will post earnings per share of $0.64 for the quarter, up from their previous estimate of $0.58. The consensus estimate for Murphy Oil’s current full-year earnings is $4.21 per share. Capital One Financial also issued estimates for Murphy Oil’s Q3 2024 earnings at $1.17 EPS.

Several other research firms have also commented on MUR. Barclays began coverage on shares of Murphy Oil in a report on Wednesday, April 10th. They set an “equal weight” rating and a $54.00 target price on the stock. StockNews.com lowered shares of Murphy Oil from a “buy” rating to a “hold” rating in a report on Tuesday, June 18th. Piper Sandler cut their price target on shares of Murphy Oil from $55.00 to $54.00 and set an “overweight” rating on the stock in a report on Thursday, July 18th. Wolfe Research initiated coverage on shares of Murphy Oil in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Finally, KeyCorp raised their price target on shares of Murphy Oil from $50.00 to $54.00 and gave the stock an “overweight” rating in a report on Monday, April 22nd. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Murphy Oil presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.27.

Murphy Oil Price Performance

MUR stock opened at $40.36 on Monday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.87 and a current ratio of 0.93. Murphy Oil has a 52 week low of $36.95 and a 52 week high of $49.14. The firm’s fifty day moving average is $41.04 and its 200 day moving average is $41.84. The firm has a market cap of $6.16 billion, a P/E ratio of 11.24 and a beta of 2.26.

Murphy Oil (NYSE:MUR) last released its earnings results on Thursday, May 2nd. The oil and gas producer reported $0.85 EPS for the quarter, beating the consensus estimate of $0.82 by $0.03. Murphy Oil had a net margin of 16.40% and a return on equity of 11.75%. The company had revenue of $794.80 million for the quarter, compared to analyst estimates of $750.94 million. During the same quarter last year, the firm earned $1.24 EPS. The firm’s quarterly revenue was down 5.4% compared to the same quarter last year.

Institutional Investors Weigh In On Murphy Oil

Several institutional investors and hedge funds have recently modified their holdings of MUR. Mather Group LLC. lifted its position in shares of Murphy Oil by 1,015.7% in the 2nd quarter. Mather Group LLC. now owns 569 shares of the oil and gas producer’s stock worth $26,000 after purchasing an additional 518 shares during the period. Rise Advisors LLC purchased a new position in Murphy Oil during the 1st quarter valued at about $30,000. Lindbrook Capital LLC lifted its position in Murphy Oil by 47.7% during the 1st quarter. Lindbrook Capital LLC now owns 721 shares of the oil and gas producer’s stock valued at $33,000 after acquiring an additional 233 shares during the period. Benjamin F. Edwards & Company Inc. lifted its position in Murphy Oil by 27.0% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 2,105 shares of the oil and gas producer’s stock valued at $96,000 after acquiring an additional 447 shares during the period. Finally, CWM LLC lifted its position in Murphy Oil by 14.0% during the 1st 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. 78.31% of the stock is owned by hedge funds and other institutional investors.

Murphy Oil Company Profile

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.