Analysts predict that Murphy Oil Co. (NYSE:MUR) will announce $602.37 million in sales for the current quarter, according to Zacks. Four analysts have provided estimates for Murphy Oil’s earnings. The lowest sales estimate is $571.17 million and the highest is $621.30 million. Murphy Oil reported sales of $618.19 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 2.6%. The firm is scheduled to report its next quarterly earnings results on Wednesday, August 14th.
According to Zacks, analysts expect that Murphy Oil will report full year sales of $2.77 billion for the current year, with estimates ranging from $2.48 billion to $2.98 billion. For the next year, analysts forecast that the company will post sales of $3.24 billion, with estimates ranging from $2.62 billion to $4.26 billion. Zacks’ sales calculations are an average based on a survey of research analysts that follow Murphy Oil.
Murphy Oil (NYSE:MUR) last posted its quarterly earnings data on Thursday, May 2nd. The oil and gas producer reported $0.15 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.10 by $0.05. The company had revenue of $591.00 million during the quarter, compared to analyst estimates of $557.15 million. Murphy Oil had a net margin of 10.99% and a return on equity of 4.10%. The company’s revenue was up 57.3% on a year-over-year basis. During the same quarter last year, the business posted $0.23 earnings per share.
Several analysts have recently commented on MUR shares. Morgan Stanley set a $19.00 price target on shares of Murphy Oil and gave the company a “sell” rating in a research note on Tuesday, January 29th. Goldman Sachs Group raised shares of Murphy Oil from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $29.00 to $31.50 in a research report on Friday, April 12th. Zacks Investment Research raised shares of Murphy Oil from a “hold” rating to a “buy” rating and set a $32.00 price target on the stock in a research report on Tuesday, April 16th. Credit Suisse Group set a $31.00 price objective on shares of Murphy Oil and gave the stock a “hold” rating in a report on Thursday, February 14th. Finally, TheStreet upgraded shares of Murphy Oil from a “c+” rating to a “b” rating in a report on Friday, February 1st. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $34.46.
Shares of NYSE MUR traded up $0.15 during mid-day trading on Wednesday, hitting $28.09. 2,470,000 shares of the stock were exchanged, compared to its average volume of 2,090,211. Murphy Oil has a twelve month low of $21.51 and a twelve month high of $36.53. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.67. The firm has a market cap of $4.75 billion, a price-to-earnings ratio of 22.29 and a beta of 2.14.
The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.56%. The ex-dividend date of this dividend is Friday, May 17th. Murphy Oil’s payout ratio is 79.37%.
In related news, insider Thomas J. Mireles sold 7,400 shares of Murphy Oil stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $27.60, for a total transaction of $204,240.00. Following the completion of the sale, the insider now owns 21,368 shares of the company’s stock, valued at approximately $589,756.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP John B. Gardner sold 8,364 shares of the business’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $28.94, for a total transaction of $242,054.16. The disclosure for this sale can be found here. Insiders own 6.46% of the company’s stock.
Several large investors have recently modified their holdings of the company. Goldman Sachs Group Inc. raised its position in shares of Murphy Oil by 23.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,680,467 shares of the oil and gas producer’s stock valued at $78,537,000 after buying an additional 504,409 shares in the last quarter. Utah Retirement Systems raised its position in shares of Murphy Oil by 1.2% in the 1st quarter. Utah Retirement Systems now owns 30,923 shares of the oil and gas producer’s stock valued at $906,000 after buying an additional 381 shares in the last quarter. Natixis raised its position in shares of Murphy Oil by 27.7% in the 1st quarter. Natixis now owns 140,405 shares of the oil and gas producer’s stock valued at $4,142,000 after buying an additional 30,472 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Murphy Oil by 3.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 914,993 shares of the oil and gas producer’s stock worth $26,810,000 after purchasing an additional 26,381 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in Murphy Oil by 2,119.7% during the 1st quarter. Renaissance Technologies LLC now owns 608,200 shares of the oil and gas producer’s stock worth $17,820,000 after purchasing an additional 580,800 shares in the last quarter. Institutional investors own 86.83% of the company’s stock.
Murphy Oil Company Profile
Murphy Oil Corporation operates as an oil and gas exploration and production company in the United States, Canada, Malaysia, 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.
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