Wall Street analysts predict that Murphy Oil Corporation (NYSE:MUR) will announce sales of $483.59 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Murphy Oil Corporation’s earnings, with the lowest sales estimate coming in at $451.00 million and the highest estimate coming in at $513.20 million. Murphy Oil Corporation posted sales of $500.53 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 3.4%. The firm is scheduled to report its next earnings results on Wednesday, October 25th.

On average, analysts expect that Murphy Oil Corporation will report full year sales of $483.59 million for the current fiscal year, with estimates ranging from $2.07 billion to $2.28 billion. For the next financial year, analysts expect that the firm will report sales of $2.23 billion per share, with estimates ranging from $2.01 billion to $2.78 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Murphy Oil Corporation.

Murphy Oil Corporation (NYSE:MUR) last released its quarterly earnings results on Wednesday, August 2nd. The oil and gas producer reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.04. The business had revenue of $474.50 million during the quarter, compared to the consensus estimate of $495.03 million. Murphy Oil Corporation had a negative return on equity of 1.76% and a negative net margin of 1.83%. During the same quarter in the previous year, the business earned ($0.36) EPS.

A number of research analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Murphy Oil Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Royal Bank Of Canada set a $32.00 price objective on shares of Murphy Oil Corporation and gave the company a “hold” rating in a research report on Saturday, June 3rd. Scotiabank set a $26.00 price objective on shares of Murphy Oil Corporation and gave the company a “hold” rating in a research report on Saturday, July 1st. BidaskClub downgraded shares of Murphy Oil Corporation from a “hold” rating to a “sell” rating in a research report on Thursday. Finally, Simmons increased their price objective on shares of Murphy Oil Corporation from $31.00 to $33.00 and gave the company a “neutral” rating in a research report on Wednesday, April 19th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $31.55.

TRADEMARK VIOLATION WARNING: “Zacks: Brokerages Anticipate Murphy Oil Corporation (MUR) Will Post Quarterly Sales of $483.59 Million” was originally posted by American Banking News and is the property of of American Banking News. If you are reading this story on another domain, it was illegally copied and republished in violation of international copyright and trademark laws. The legal version of this story can be viewed at https://www.americanbankingnews.com/2017/08/17/zacks-brokerages-anticipate-murphy-oil-corporation-mur-will-post-quarterly-sales-of-483-59-million.html.

Murphy Oil Corporation (NYSE:MUR) opened at 24.64 on Thursday. The firm’s 50 day moving average is $25.52 and its 200 day moving average is $26.51. The company’s market cap is $4.25 billion. Murphy Oil Corporation has a 52-week low of $23.61 and a 52-week high of $35.19.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Monday, August 14th will be given a $0.25 dividend. The ex-dividend date is Thursday, August 10th. This represents a $1.00 annualized dividend and a yield of 4.06%. Murphy Oil Corporation’s payout ratio is presently -454.55%.

In other Murphy Oil Corporation news, insider Kelli M. Hammock sold 4,000 shares of the stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $25.63, for a total value of $102,520.00. Following the transaction, the insider now directly owns 14,298 shares in the company, valued at $366,457.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Allan J. Misner sold 3,795 shares of the stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $26.05, for a total transaction of $98,859.75. Following the completion of the transaction, the vice president now owns 100 shares in the company, valued at $2,605. The disclosure for this sale can be found here. Insiders sold 8,795 shares of company stock worth $225,390 over the last quarter. Insiders own 6.89% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE increased its position in Murphy Oil Corporation by 14.0% in the first quarter. Bank of America Corp DE now owns 613,099 shares of the oil and gas producer’s stock valued at $17,529,000 after buying an additional 75,164 shares during the last quarter. Neuberger Berman Group LLC increased its stake in shares of Murphy Oil Corporation by 1.7% in the first quarter. Neuberger Berman Group LLC now owns 10,200 shares of the oil and gas producer’s stock valued at $292,000 after buying an additional 174 shares during the last quarter. KBC Group NV increased its stake in shares of Murphy Oil Corporation by 37.2% in the first quarter. KBC Group NV now owns 9,300 shares of the oil and gas producer’s stock valued at $266,000 after buying an additional 2,520 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Murphy Oil Corporation by 35.7% in the first quarter. Wellington Management Group LLP now owns 49,514 shares of the oil and gas producer’s stock valued at $1,415,000 after buying an additional 13,024 shares during the last quarter. Finally, State Street Corp increased its stake in shares of Murphy Oil Corporation by 3.0% in the first quarter. State Street Corp now owns 10,870,682 shares of the oil and gas producer’s stock valued at $310,787,000 after buying an additional 319,322 shares during the last quarter. Institutional investors and hedge funds own 96.68% of the company’s stock.

About Murphy Oil Corporation

Murphy Oil Corporation (Murphy) is an oil and gas exploration and production company. The Company’s exploration and production business explores for and produces crude oil, natural gas and natural gas liquids across the world. Its exploration and production activities are subdivided into four geographic segments: the United States, Canada, Malaysia and all other countries.

Get a free copy of the Zacks research report on Murphy Oil Corporation (MUR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Murphy Oil Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Murphy Oil Corporation and related companies with MarketBeat.com's FREE daily email newsletter.