Roth Capital Comments on Murphy Oil Co.’s Q2 2024 Earnings (NYSE:MUR)

Murphy Oil Co. (NYSE:MUR) – Investment analysts at Roth Capital dropped their Q2 2024 EPS estimates for Murphy Oil in a report released on Thursday, May 2nd. Roth Capital analyst L. Mariani now expects that the oil and gas producer will earn $0.95 per share for the quarter, down from their prior estimate of $1.09. The consensus estimate for Murphy Oil’s current full-year earnings is $4.64 per share. Roth Capital also issued estimates for Murphy Oil’s FY2024 earnings at $4.80 EPS, Q1 2025 earnings at $1.51 EPS, Q2 2025 earnings at $1.29 EPS, Q3 2025 earnings at $1.56 EPS, Q4 2025 earnings at $1.79 EPS and FY2025 earnings at $6.13 EPS.

MUR has been the topic of a number of other research reports. Piper Sandler boosted their price objective on shares of Murphy Oil from $49.00 to $55.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. JPMorgan Chase & Co. increased their price objective on shares of Murphy Oil from $51.00 to $52.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Scotiabank downgraded shares of Murphy Oil from a “sector outperform” rating to a “sector perform” rating and raised their price objective for the stock from $46.00 to $50.00 in a research note on Thursday, April 11th. UBS Group cut their target price on Murphy Oil from $45.00 to $43.00 and set a “neutral” rating on the stock in a research note on Monday, January 29th. Finally, KeyCorp raised their price target on Murphy Oil from $50.00 to $54.00 and gave the stock an “overweight” rating in a research note on Monday, April 22nd. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $50.64.

Murphy Oil Trading Down 0.2 %

MUR opened at $44.15 on Monday. Murphy Oil has a 12 month low of $32.80 and a 12 month high of $49.14. The company has a current ratio of 0.93, a quick ratio of 0.82 and a debt-to-equity ratio of 0.24. The stock has a 50-day moving average of $44.47 and a 200 day moving average of $42.61. The firm has a market cap of $6.74 billion, a P/E ratio of 12.30 and a beta of 2.22.

Murphy Oil (NYSE:MUR) last issued its quarterly earnings data on Thursday, May 2nd. The oil and gas producer reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.03. The business had revenue of $794.80 million for the quarter, compared to analysts’ expectations of $750.94 million. Murphy Oil had a return on equity of 11.75% and a net margin of 16.40%. The company’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.24 EPS.

Murphy Oil Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, May 17th. This represents a $1.20 dividend on an annualized basis and a yield of 2.72%. Murphy Oil’s payout ratio is 33.43%.

Insider Buying and Selling at Murphy Oil

In other Murphy Oil news, VP Louis W. Utsch sold 30,260 shares of the stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $39.94, for a total value of $1,208,584.40. Following the completion of the sale, the vice president now directly owns 9,504 shares in the company, valued at $379,589.76. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO Roger W. Jenkins sold 110,000 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $40.39, for a total value of $4,442,900.00. Following the transaction, the chief executive officer now directly owns 1,035,190 shares of the company’s stock, valued at $41,811,324.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Louis W. Utsch sold 30,260 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $39.94, for a total value of $1,208,584.40. Following the completion of the transaction, the vice president now owns 9,504 shares of the company’s stock, valued at $379,589.76. The disclosure for this sale can be found here. Insiders sold a total of 156,260 shares of company stock worth $6,322,644 over the last three months. Corporate insiders own 5.92% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in MUR. Rise Advisors LLC purchased a new position in shares of Murphy Oil during the 1st quarter valued at about $30,000. Bruce G. Allen Investments LLC acquired a new stake in Murphy Oil during the fourth quarter worth about $29,000. Lindbrook Capital LLC raised its position in Murphy Oil by 47.7% during the first quarter. Lindbrook Capital LLC now owns 721 shares of the oil and gas producer’s stock valued at $33,000 after acquiring an additional 233 shares in the last quarter. Headinvest LLC acquired a new position in Murphy Oil in the third quarter valued at approximately $70,000. Finally, Benjamin F. Edwards & Company Inc. boosted its position in Murphy Oil by 27.0% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 2,105 shares of the oil and gas producer’s stock worth $96,000 after purchasing an additional 447 shares in the last quarter. Hedge funds and other institutional investors own 78.31% of the company’s stock.

Murphy Oil Company Profile

Murphy Oil Corporation, together with its subsidiaries, operates as an oil and 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.