Murphy Oil Corporation (MUR) Expected to Announce Quarterly Sales of $473.35 Million
Equities research analysts expect that Murphy Oil Corporation (NYSE:MUR) will post $473.35 million in sales for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Murphy Oil Corporation’s earnings, with the lowest sales estimate coming in at $460.00 million and the highest estimate coming in at $495.40 million. Murphy Oil Corporation reported sales of $500.53 million in the same quarter last year, which indicates a negative year-over-year growth rate of 5.4%. The business is scheduled to announce its next earnings report after the market closes on Wednesday, November 1st.
On average, analysts expect that Murphy Oil Corporation will report full-year sales of $473.35 million for the current financial year, with estimates ranging from $2.13 billion to $2.27 billion. For the next financial year, analysts anticipate that the company will post sales of $2.30 billion per share, with estimates ranging from $2.04 billion to $2.78 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Murphy Oil Corporation.
Murphy Oil Corporation (NYSE:MUR) last released its earnings results on Wednesday, August 2nd. The oil and gas producer reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.04. The business had revenue of $474.50 million for 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 last year, the business posted ($0.36) earnings per share.
A number of equities research analysts recently weighed in on the company. Zacks Investment Research cut Murphy Oil Corporation from a “buy” rating to a “hold” rating in a report on Monday. BidaskClub upgraded Murphy Oil Corporation from a “sell” rating to a “hold” rating in a report on Monday, July 31st. Piper Jaffray Companies restated a “hold” rating and issued a $31.00 price target on shares of Murphy Oil Corporation in a report on Thursday, August 10th. Morgan Stanley upped their price target on Murphy Oil Corporation from $23.00 to $26.00 and gave the stock an “underweight” rating in a report on Wednesday, October 18th. Finally, ValuEngine upgraded Murphy Oil Corporation from a “sell” rating to a “hold” rating in a report on Friday, July 28th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $30.08.
Murphy Oil Corporation (NYSE:MUR) traded up 1.472% during trading on Tuesday, hitting $26.535. The stock had a trading volume of 854,952 shares. Murphy Oil Corporation has a 12-month low of $22.21 and a 12-month high of $35.19. The firm’s market cap is $4.58 billion. The stock’s 50 day moving average price is $25.91 and its 200 day moving average price is $25.47.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Monday, November 13th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.82%. The ex-dividend date is Friday, November 10th. Murphy Oil Corporation’s payout ratio is currently -454.55%.
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In related news, 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 value of $102,520.00. Following the sale, the insider now owns 14,298 shares of the company’s stock, valued at approximately $366,457.74. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, 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 value of $98,859.75. Following the completion of the sale, the vice president now directly owns 100 shares in the company, valued at approximately $2,605. The disclosure for this sale can be found here. 6.89% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of MUR. JPMorgan Chase & Co. lifted its stake in Murphy Oil Corporation by 23.9% in the 1st quarter. JPMorgan Chase & Co. now owns 123,154 shares of the oil and gas producer’s stock valued at $3,520,000 after buying an additional 23,755 shares in the last quarter. Neuberger Berman Group LLC lifted its stake in shares of Murphy Oil Corporation by 1.7% during the 1st quarter. Neuberger Berman Group LLC now owns 10,200 shares of the oil and gas producer’s stock worth $292,000 after purchasing an additional 174 shares during the period. OppenheimerFunds Inc. lifted its stake in shares of Murphy Oil Corporation by 22.5% during the 1st quarter. OppenheimerFunds Inc. now owns 8,204 shares of the oil and gas producer’s stock worth $235,000 after purchasing an additional 1,505 shares during the period. Wellington Management Group LLP lifted its stake in shares of Murphy Oil Corporation by 35.7% during the 1st quarter. Wellington Management Group LLP now owns 49,514 shares of the oil and gas producer’s stock worth $1,415,000 after purchasing an additional 13,024 shares during the period. Finally, Teachers Advisors LLC lifted its stake in shares of Murphy Oil Corporation by 6.0% during the 1st quarter. Teachers Advisors LLC now owns 220,185 shares of the oil and gas producer’s stock worth $6,295,000 after purchasing an additional 12,521 shares during the period. 97.99% of the stock is currently owned by hedge funds and other institutional investors.
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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