KeyCorp Comments on Murphy Oil Co.’s Q3 2022 Earnings (NYSE:MUR)

Murphy Oil Co. (NYSE:MURGet Rating) – Stock analysts at KeyCorp decreased their Q3 2022 earnings per share estimates for shares of Murphy Oil in a note issued to investors on Wednesday, May 4th. KeyCorp analyst L. Mariani now expects that the oil and gas producer will post earnings per share of $1.01 for the quarter, down from their prior estimate of $1.12.

Murphy Oil (NYSE:MURGet Rating) last announced its quarterly earnings results on Wednesday, May 4th. The oil and gas producer reported $0.73 EPS for the quarter, topping the consensus estimate of $0.61 by $0.12. Murphy Oil had a net margin of 4.06% and a return on equity of 7.27%. The firm had revenue of $552.90 million for the quarter, compared to analyst estimates of $661.40 million. During the same period last year, the business earned $0.06 EPS. Murphy Oil’s revenue for the quarter was up 45.6% compared to the same quarter last year.

Other equities research analysts have also issued reports about the stock. Mizuho lifted their price target 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. Wells Fargo & Company raised their price objective on shares of Murphy Oil from $30.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Friday, March 11th. StockNews.com downgraded shares of Murphy Oil from a “buy” rating to a “hold” rating in a research report on Monday, May 2nd. Morgan Stanley raised 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 report on Friday, April 22nd. Finally, Piper Sandler raised shares of Murphy Oil from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $38.00 to $54.00 in a research report on Thursday, April 7th. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Murphy Oil presently has a consensus rating of “Buy” and an average target price of $50.00.

Shares of NYSE:MUR opened at $38.27 on Monday. The company’s fifty day moving average price is $39.39 and its 200 day moving average price is $32.92. Murphy Oil has a 12 month low of $17.87 and a 12 month high of $44.63. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.60 and a quick ratio of 0.71. The firm has a market capitalization of $5.95 billion, a P/E ratio of 59.80 and a beta of 2.55.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 1st. Investors of record on Monday, May 16th will be issued a dividend of $0.175 per share. The ex-dividend date of this dividend is Friday, May 13th. This represents a $0.70 dividend on an annualized basis and a yield of 1.83%. This is an increase from Murphy Oil’s previous quarterly dividend of $0.15. Murphy Oil’s payout ratio is currently 93.75%.

In related news, VP John B. Gardner sold 1,773 shares of the business’s stock in a transaction dated Tuesday, March 22nd. The shares were sold at an average price of $40.86, for a total transaction of $72,444.78. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Maria A. Martinez sold 10,000 shares of the business’s stock in a transaction dated Monday, February 14th. The stock was sold at an average price of $33.53, for a total transaction of $335,300.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,054 shares of company stock worth $785,307. 6.20% of the stock is owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in Murphy Oil during the fourth quarter worth about $26,000. USA Financial Portformulas Corp acquired a new position in shares of Murphy Oil in the fourth quarter valued at approximately $35,000. Rockefeller Capital Management L.P. raised its position in shares of Murphy Oil by 857.8% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,657 shares of the oil and gas producer’s stock valued at $43,000 after buying an additional 1,484 shares during the last quarter. Neo Ivy Capital Management acquired a new position in shares of Murphy Oil in the fourth quarter valued at approximately $53,000. Finally, Quadrant Capital Group LLC raised its position in shares of Murphy Oil by 23.3% in the fourth quarter. Quadrant Capital Group LLC now owns 2,278 shares of the oil and gas producer’s stock valued at $59,000 after buying an additional 430 shares during the last quarter. 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.

Further Reading

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

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