Equities Analysts Issue Forecasts for Murphy Oil Co.’s FY2022 Earnings (NYSE:MUR)

Murphy Oil Co. (NYSE:MUR – Get Rating) – Research analysts at Capital One Financial reduced their FY2022 EPS estimates for shares of Murphy Oil in a research note issued to investors on Friday, January 20th. Capital One Financial analyst B. Velie now anticipates that the oil and gas producer will earn $5.61 per share for the year, down from their previous estimate of $5.67. The consensus estimate for Murphy Oil’s current full-year earnings is $5.90 per share. Capital One Financial also issued estimates for Murphy Oil’s Q4 2022 earnings at $1.10 EPS, Q1 2023 earnings at $1.34 EPS and Q2 2023 earnings at $1.42 EPS.

Murphy Oil (NYSE:MUR – Get Rating) last announced its earnings results on Thursday, November 3rd. The oil and gas producer reported $1.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.56 by $0.28. The business had revenue of $1.30 billion during the quarter, compared to analyst estimates of $930.51 million. Murphy Oil had a return on equity of 17.20% and a net margin of 25.27%.

Other equities research analysts have also issued reports about the stock. Jefferies Financial Group started coverage on shares of Murphy Oil in a research note on Wednesday, October 19th. They issued a “hold” rating and a $46.00 price objective on the stock. Wells Fargo & Company dropped their price target on Murphy Oil from $48.00 to $44.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 10th. Truist Financial raised their target price on Murphy Oil from $46.00 to $49.00 and gave the company a “hold” rating in a research note on Tuesday. Piper Sandler boosted their price objective on Murphy Oil from $62.00 to $68.00 and gave the company an “overweight” rating in a report on Thursday, November 17th. Finally, StockNews.com cut shares of Murphy Oil from a “buy” rating to a “hold” rating in a research report on Thursday, December 15th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $49.67.

Murphy Oil Price Performance

Murphy Oil stock opened at $42.76 on Monday. The stock’s 50 day moving average is $43.48 and its 200 day moving average is $40.49. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.78 and a quick ratio of 0.74. The firm has a market cap of $6.65 billion, a P/E ratio of 7.20 and a beta of 2.41. Murphy Oil has a one year low of $25.97 and a one year high of $51.28.

Insider Buying and Selling

In other news, VP Paul D. Vaughan sold 1,254 shares of the stock in a transaction that occurred on Wednesday, November 9th. The shares were sold at an average price of $46.34, for a total transaction of $58,110.36. Following the completion of the transaction, the vice president now directly owns 9,910 shares of the company’s stock, valued at approximately $459,229.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, VP Paul D. Vaughan sold 1,254 shares of the stock in a transaction on Wednesday, November 9th. The stock was sold at an average price of $46.34, for a total transaction of $58,110.36. Following the completion of the transaction, the vice president now owns 9,910 shares in the company, valued at approximately $459,229.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Roger W. Jenkins sold 150,000 shares of the business’s stock in a transaction dated Friday, November 11th. The shares were sold at an average price of $50.52, for a total value of $7,578,000.00. Following the completion of the sale, the chief executive officer now owns 664,664 shares in the company, valued at $33,578,825.28. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 210,754 shares of company stock valued at $10,615,495. 6.20% of the stock is owned by insiders.

Institutional Trading of Murphy Oil

Several hedge funds and other institutional investors have recently modified their holdings of the business. Park Avenue Securities LLC bought a new stake in shares of Murphy Oil in the fourth quarter valued at approximately $274,000. MorganRosel Wealth Management LLC lifted its position in shares of Murphy Oil by 6.1% during the fourth quarter. MorganRosel Wealth Management LLC now owns 24,189 shares of the oil and gas producer’s stock worth $1,040,000 after acquiring an additional 1,392 shares in the last quarter. Private Advisor Group LLC purchased a new stake in shares of Murphy Oil during the fourth quarter worth $279,520,000. Willis Investment Counsel lifted its position in shares of Murphy Oil by 0.9% during the fourth quarter. Willis Investment Counsel now owns 309,802 shares of the oil and gas producer’s stock worth $13,325,000 after acquiring an additional 2,649 shares in the last quarter. Finally, Exchange Traded Concepts LLC boosted its stake in Murphy Oil by 79.8% in the 4th quarter. Exchange Traded Concepts LLC now owns 3,942 shares of the oil and gas producer’s stock worth $170,000 after purchasing an additional 1,749 shares during the period. Institutional investors own 77.55% of the company’s stock.

About Murphy Oil

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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.