Murphy Oil Co. (NYSE:MUR) to Post Q2 2022 Earnings of $1.23 Per Share, Capital One Financial Forecasts

Murphy Oil Co. (NYSE:MURGet Rating) – Equities research analysts at Capital One Financial lifted their Q2 2022 earnings per share estimates for Murphy Oil in a research note issued on Wednesday, May 4th. Capital One Financial analyst B. Velie now forecasts that the oil and gas producer will post earnings of $1.23 per share for the quarter, up from their prior forecast of $1.22. Capital One Financial also issued estimates for Murphy Oil’s FY2022 earnings at $4.83 EPS and FY2023 earnings at $7.91 EPS.

Murphy Oil (NYSE:MURGet Rating) last announced its quarterly earnings results on Wednesday, May 4th. The oil and gas producer reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.12. The company had revenue of $552.90 million for the quarter, compared to analysts’ expectations of $661.40 million. Murphy Oil had a negative net margin of 3.20% and a positive return on equity of 4.82%. Murphy Oil’s revenue was up 45.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.06 EPS.

Several other equities analysts have also recently issued reports on MUR. JPMorgan Chase & Co. cut shares of Murphy Oil from an “overweight” rating to a “neutral” rating and set a $51.00 target price on the stock. in a research note on Thursday. Truist Financial upped their target price on shares of Murphy Oil from $41.00 to $60.00 in a research note on Thursday, April 21st. Morgan Stanley increased their price objective on shares of Murphy Oil from $35.00 to $53.00 and gave the stock an “equal weight” rating in a research note on Friday, April 22nd. Mizuho increased their price objective on shares of Murphy Oil from $42.00 to $58.00 and gave the stock a “buy” rating in a research note on Thursday, March 31st. Finally, Zacks Investment Research upgraded shares of Murphy Oil from a “hold” rating to a “strong-buy” rating and set a $49.00 price objective on the stock in a research note on Monday, April 11th. Four analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $50.00.

Shares of Murphy Oil stock opened at $37.22 on Friday. The stock has a market cap of $5.78 billion, a price-to-earnings ratio of 58.16 and a beta of 2.55. The firm’s 50-day moving average is $39.32 and its 200 day moving average is $32.79. Murphy Oil has a 1 year low of $17.59 and a 1 year high of $44.63. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.76 and a quick ratio of 0.71.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 1st. Shareholders of record on Monday, May 16th will be issued a dividend of $0.175 per share. This is a positive change from Murphy Oil’s previous quarterly dividend of $0.15. This represents a $0.70 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date is Friday, May 13th. Murphy Oil’s dividend payout ratio (DPR) is 93.75%.

In related news, VP John B. Gardner sold 1,773 shares of the firm’s 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Eric M. Hambly sold 2,305 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 $94,182.30. The disclosure for this sale can be found here. Insiders have sold a total of 76,935 shares of company stock valued at $2,610,517 over the last quarter. Corporate insiders own 6.20% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. BlackRock Inc. grew its stake in Murphy Oil by 0.5% in the fourth quarter. BlackRock Inc. now owns 16,714,797 shares of the oil and gas producer’s stock valued at $436,423,000 after purchasing an additional 91,067 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Murphy Oil by 1.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 8,308,781 shares of the oil and gas producer’s stock worth $216,939,000 after acquiring an additional 99,515 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Murphy Oil by 9.5% during the fourth quarter. Geode Capital Management LLC now owns 2,748,445 shares of the oil and gas producer’s stock worth $71,761,000 after acquiring an additional 238,692 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Murphy Oil by 1.1% during the third quarter. Bank of New York Mellon Corp now owns 1,949,264 shares of the oil and gas producer’s stock worth $48,673,000 after acquiring an additional 20,934 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of Murphy Oil by 12.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,371,801 shares of the oil and gas producer’s stock worth $35,818,000 after acquiring an additional 153,754 shares during the last quarter. Hedge funds and other institutional investors own 76.37% of the company’s stock.

About Murphy Oil (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.

See Also

Earnings History and Estimates for Murphy Oil (NYSE:MUR)

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