Wall Street analysts forecast that Murphy Oil Co. (NYSE:MUR) will announce $661.23 million in sales for the current quarter, according to Zacks. Four analysts have made estimates for Murphy Oil’s earnings. The highest sales estimate is $709.20 million and the lowest is $637.00 million. Murphy Oil posted sales of $498.32 million during the same quarter last year, which suggests a positive year-over-year growth rate of 32.7%. The business is scheduled to issue its next quarterly earnings report after the market closes on Wednesday, November 7th.
On average, analysts expect that Murphy Oil will report full-year sales of $2.56 billion for the current fiscal year, with estimates ranging from $2.50 billion to $2.69 billion. For the next financial year, analysts anticipate that the company will report sales of $2.75 billion, with estimates ranging from $2.65 billion to $2.99 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Murphy Oil.
Murphy Oil (NYSE:MUR) last issued its quarterly earnings data on Wednesday, August 8th. The oil and gas producer reported $0.36 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.01. Murphy Oil had a positive return on equity of 2.32% and a negative net margin of 6.19%. The company had revenue of $655.15 million for the quarter, compared to the consensus estimate of $623.76 million. During the same quarter last year, the business posted ($0.11) earnings per share. The firm’s revenue was up 37.2% compared to the same quarter last year.
A number of equities research analysts recently issued reports on the company. Credit Suisse Group increased their price objective on Murphy Oil from $37.00 to $39.00 and gave the stock a “neutral” rating in a research report on Thursday. Barclays increased their price objective on Murphy Oil from $34.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 11th. Wells Fargo & Co lowered their price objective on Murphy Oil from $36.00 to $34.00 and set a “market perform” rating on the stock in a research report on Friday, August 10th. Morgan Stanley lowered their price objective on Murphy Oil from $26.00 to $24.00 and set a “sell” rating on the stock in a research report on Thursday, August 16th. Finally, Zacks Investment Research upgraded Murphy Oil from a “hold” rating to a “buy” rating and set a $35.00 price objective on the stock in a research report on Friday, August 24th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $34.80.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Advisory Services Network LLC raised its position in Murphy Oil by 11.4% during the second quarter. Advisory Services Network LLC now owns 16,553 shares of the oil and gas producer’s stock valued at $546,000 after purchasing an additional 1,694 shares in the last quarter. Aperio Group LLC raised its position in Murphy Oil by 2.1% during the second quarter. Aperio Group LLC now owns 129,571 shares of the oil and gas producer’s stock valued at $4,376,000 after purchasing an additional 2,661 shares in the last quarter. Fox Run Management L.L.C. raised its position in Murphy Oil by 25.2% during the second quarter. Fox Run Management L.L.C. now owns 13,597 shares of the oil and gas producer’s stock valued at $459,000 after purchasing an additional 2,734 shares in the last quarter. American International Group Inc. raised its position in Murphy Oil by 0.9% during the second quarter. American International Group Inc. now owns 327,393 shares of the oil and gas producer’s stock valued at $11,056,000 after purchasing an additional 2,853 shares in the last quarter. Finally, Stephens Inc. AR raised its position in Murphy Oil by 4.3% during the second quarter. Stephens Inc. AR now owns 72,786 shares of the oil and gas producer’s stock valued at $2,458,000 after purchasing an additional 3,025 shares in the last quarter. Institutional investors and hedge funds own 89.65% of the company’s stock.
Shares of MUR stock opened at $35.78 on Friday. The company has a current ratio of 1.46, a quick ratio of 1.35 and a debt-to-equity ratio of 0.62. Murphy Oil has a 52-week low of $24.39 and a 52-week high of $36.53. The firm has a market capitalization of $5.77 billion, a P/E ratio of -275.23 and a beta of 2.25.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Shareholders of record on Monday, November 12th will be given a dividend of $0.25 per share. The ex-dividend date is Thursday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 2.79%. Murphy Oil’s payout ratio is -769.23%.
About Murphy Oil
Murphy Oil Corporation operates as an oil and gas exploration and production company worldwide. 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. Murphy Oil Corporation was founded in 1950 and is headquartered in El Dorado, Arkansas.
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