Murphy Oil Co. (NYSE:MUR – Get Rating) – Piper Sandler increased their Q1 2022 earnings per share (EPS) estimates for Murphy Oil in a report released on Thursday, April 7th. Piper Sandler analyst M. Lear now anticipates that the oil and gas producer will post earnings of $0.45 per share for the quarter, up from their previous forecast of $0.35. Piper Sandler currently has a “Overweight” rating and a $54.00 price target on the stock. Piper Sandler also issued estimates for Murphy Oil’s Q2 2022 earnings at $1.65 EPS, Q3 2022 earnings at $2.05 EPS, Q4 2022 earnings at $2.03 EPS, FY2022 earnings at $6.18 EPS, Q1 2023 earnings at $3.59 EPS, Q2 2023 earnings at $3.56 EPS, Q3 2023 earnings at $2.65 EPS, Q4 2023 earnings at $2.12 EPS, FY2023 earnings at $11.93 EPS, Q1 2024 earnings at $1.81 EPS and FY2024 earnings at $7.03 EPS.
Several other analysts also recently weighed in on MUR. Zacks Investment Research raised Murphy Oil from a “hold” rating to a “strong-buy” rating and set a $49.00 target price for the company in a report on Monday. Morgan Stanley boosted their price target on Murphy Oil from $33.00 to $35.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 25th. Truist Financial boosted their price target on Murphy Oil from $40.00 to $43.00 in a research report on Friday, January 14th. Wells Fargo & Company boosted their price target on Murphy Oil from $30.00 to $38.00 and gave the company an “equal weight” rating in a research report on Friday, March 11th. Finally, StockNews.com initiated coverage on Murphy Oil in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $41.22.
Murphy Oil (NYSE:MUR – Get Rating) last posted its earnings results on Thursday, January 27th. The oil and gas producer reported $0.40 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by ($0.05). Murphy Oil had a negative net margin of 3.20% and a positive return on equity of 4.82%. The firm had revenue of $739.00 million during the quarter, compared to analysts’ expectations of $614.61 million. During the same period in the previous year, the firm posted ($0.09) earnings per share. The firm’s revenue for the quarter was up 123.8% on a year-over-year basis.
Large investors have recently added to or reduced their stakes in the company. Selective Wealth Management Inc. acquired a new position in shares of Murphy Oil during the 3rd quarter worth $25,000. Moors & Cabot Inc. acquired a new position in shares of Murphy Oil during the 3rd quarter worth $25,000. Whittier Trust Co. acquired a new position in shares of Murphy Oil during the 3rd quarter worth $26,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of Murphy Oil during the 4th quarter worth $26,000. Finally, USA Financial Portformulas Corp acquired a new position in shares of Murphy Oil during the 4th quarter worth $35,000. 77.54% of the stock is owned by institutional investors and hedge funds.
In other news, CEO Roger W. Jenkins sold 50,000 shares of Murphy Oil stock in a transaction on Monday, February 7th. The stock was sold at an average price of $33.19, for a total transaction of $1,659,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP John B. Gardner sold 1,773 shares of Murphy Oil stock in a transaction on Tuesday, March 22nd. The stock was sold at an average price of $40.86, for a total value of $72,444.78. The disclosure for this sale can be found here. Insiders have sold a total of 76,935 shares of company stock worth $2,610,517 in the last quarter. 6.20% of the stock is currently owned by insiders.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 1st. Shareholders of record on Monday, May 16th will be given a dividend of $0.175 per share. This is a boost from Murphy Oil’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Friday, May 13th. This represents a $0.70 annualized dividend and a yield of 1.71%. Murphy Oil’s payout ratio is presently -120.00%.
Murphy Oil Company Profile (Get Rating)
Murphy Oil Corporation, together with its subsidiaries, operates as an oil and natural 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.
- Get a free copy of the StockNews.com research report on Murphy Oil (MUR)
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