Research Analysts Offer Predictions for Murphy Oil Co.’s FY2023 Earnings (NYSE:MUR)

Murphy Oil Co. (NYSE:MUR) – Research analysts at KeyCorp dropped their FY2023 earnings per share estimates for shares of Murphy Oil in a research report issued on Sunday, November 5th. KeyCorp analyst T. Rezvan now anticipates that the oil and gas producer will post earnings per share of $4.79 for the year, down from their prior estimate of $5.14. KeyCorp has a “Overweight” rating and a $53.00 price objective on the stock. The consensus estimate for Murphy Oil’s current full-year earnings is $5.01 per share. KeyCorp also issued estimates for Murphy Oil’s Q4 2023 earnings at $1.18 EPS, Q1 2024 earnings at $1.23 EPS, Q2 2024 earnings at $1.12 EPS, Q3 2024 earnings at $1.00 EPS, Q4 2024 earnings at $1.17 EPS and FY2024 earnings at $4.51 EPS.

Several other research analysts have also commented on MUR. Truist Financial reduced their price target on Murphy Oil from $60.00 to $52.00 in a report on Monday, July 24th. Evercore ISI lifted their price target on Murphy Oil from $39.00 to $41.00 in a report on Thursday, October 12th. Morgan Stanley lifted their price target on Murphy Oil from $46.00 to $48.00 and gave the stock an “equal weight” rating in a report on Monday, October 2nd. Mizuho lifted their price target on Murphy Oil from $51.00 to $53.00 and gave the stock a “buy” rating in a report on Monday, September 18th. Finally, Piper Sandler raised their price objective on Murphy Oil from $50.00 to $53.00 and gave the stock an “overweight” rating in a research report on Monday, August 14th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Murphy Oil currently has an average rating of “Moderate Buy” and an average price target of $48.82.

Murphy Oil Trading Down 1.0 %

Shares of MUR stock opened at $42.31 on Wednesday. Murphy Oil has a fifty-two week low of $32.80 and a fifty-two week high of $51.28. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.93 and a current ratio of 0.99. The stock’s fifty day moving average is $45.29 and its two-hundred day moving average is $41.35. The firm has a market capitalization of $6.54 billion, a P/E ratio of 6.55 and a beta of 2.40.

Murphy Oil Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Monday, November 13th will be given a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 2.60%. The ex-dividend date is Friday, November 10th. Murphy Oil’s dividend payout ratio is currently 17.03%.

Insider Buying and Selling at Murphy Oil

In other Murphy Oil news, Director Elisabeth W. Keller sold 1,116 shares of Murphy Oil stock in a transaction dated Wednesday, September 20th. The stock was sold at an average price of $45.49, for a total value of $50,766.84. Following the completion of the transaction, the director now directly owns 7,151 shares of the company’s stock, valued at approximately $325,298.99. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 5.92% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Murphy Oil

Institutional investors have recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. grew its position in shares of Murphy Oil by 73.5% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 21,212 shares of the oil and gas producer’s stock worth $857,000 after buying an additional 8,987 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its position in shares of Murphy Oil by 45.2% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 15,252 shares of the oil and gas producer’s stock worth $616,000 after buying an additional 4,749 shares in the last quarter. Cetera Advisor Networks LLC grew its position in shares of Murphy Oil by 22.5% during the first quarter. Cetera Advisor Networks LLC now owns 10,669 shares of the oil and gas producer’s stock worth $431,000 after buying an additional 1,961 shares in the last quarter. Rhumbline Advisers grew its position in shares of Murphy Oil by 2.2% during the first quarter. Rhumbline Advisers now owns 446,302 shares of the oil and gas producer’s stock worth $18,026,000 after buying an additional 9,758 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Murphy Oil by 10.5% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 53,213 shares of the oil and gas producer’s stock worth $2,149,000 after buying an additional 5,075 shares in the last quarter. 79.30% of the stock is owned by institutional investors and hedge funds.

Murphy Oil Company Profile

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.