Equities research analysts expect Murphy Oil Corporation (NYSE:MUR) to announce sales of $479.43 million for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Murphy Oil Corporation’s earnings, with estimates ranging from $451.00 million to $513.20 million. Murphy Oil Corporation reported sales of $500.53 million during the same quarter last year, which indicates a negative year over year growth rate of 4.2%. The firm is expected to report its next quarterly earnings results after the market closes on Wednesday, November 1st.

According to Zacks, analysts expect that Murphy Oil Corporation will report full-year sales of $479.43 million for the current financial year, with estimates ranging from $2.07 billion to $2.28 billion. For the next year, analysts expect that the business will post sales of $2.24 billion per share, with estimates ranging from $2.04 billion to $2.78 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Murphy Oil Corporation.

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

A number of analysts have issued reports on MUR shares. BidaskClub raised shares of Murphy Oil Corporation from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 14th. Scotiabank set a $26.00 price objective on shares of Murphy Oil Corporation and gave the company a “hold” rating in a report on Saturday, July 1st. Zacks Investment Research downgraded shares of Murphy Oil Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Barclays PLC downgraded shares of Murphy Oil Corporation from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $38.00 to $29.00 in a report on Tuesday, July 11th. Finally, Cowen and Company set a $30.00 price objective on shares of Murphy Oil Corporation and gave the company a “hold” rating in a report on Wednesday, July 19th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $30.70.

Murphy Oil Corporation (NYSE MUR) opened at 25.86 on Wednesday. The company’s market cap is $4.46 billion. Murphy Oil Corporation has a 52 week low of $22.21 and a 52 week high of $35.19. The firm’s 50-day moving average is $25.05 and its 200-day moving average is $25.71.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Monday, November 13th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.87%. The ex-dividend date is Friday, November 10th. Murphy Oil Corporation’s dividend payout ratio (DPR) is presently -454.55%.

In other news, VP Allan J. Misner sold 3,795 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $26.05, for a total transaction of $98,859.75. Following the completion of the sale, the vice president now owns 100 shares of the company’s stock, valued at approximately $2,605. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Kelli M. Hammock sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $25.63, for a total transaction of $102,520.00. Following the sale, the insider now directly owns 14,298 shares of the company’s stock, valued at approximately $366,457.74. The disclosure for this sale can be found here. Corporate insiders own 6.89% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Sentry Investment Management LLC lifted its holdings in shares of Murphy Oil Corporation by 1.0% during the 2nd quarter. Sentry Investment Management LLC now owns 12,549 shares of the oil and gas producer’s stock worth $322,000 after acquiring an additional 127 shares during the period. Toronto Dominion Bank lifted its holdings in shares of Murphy Oil Corporation by 25.6% during the 2nd quarter. Toronto Dominion Bank now owns 54,965 shares of the oil and gas producer’s stock worth $1,409,000 after acquiring an additional 11,218 shares during the period. Kalos Management Inc. lifted its holdings in shares of Murphy Oil Corporation by 3.8% during the 2nd quarter. Kalos Management Inc. now owns 79,172 shares of the oil and gas producer’s stock worth $2,029,000 after acquiring an additional 2,896 shares during the period. Bank of Nova Scotia lifted its holdings in shares of Murphy Oil Corporation by 57.2% during the 2nd quarter. Bank of Nova Scotia now owns 630,292 shares of the oil and gas producer’s stock worth $16,155,000 after acquiring an additional 229,388 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Murphy Oil Corporation during the 2nd quarter worth approximately $999,000. 97.64% of the stock is owned by institutional investors.

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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.

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