Zacks: Brokerages Anticipate Murphy Oil Co. (MUR) Will Announce Earnings of $0.36 Per Share

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Equities research analysts forecast that Murphy Oil Co. (NYSE:MUR) will report $0.36 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Murphy Oil’s earnings, with the lowest EPS estimate coming in at $0.32 and the highest estimate coming in at $0.46. Murphy Oil reported earnings per share of ($0.03) in the same quarter last year, which suggests a positive year over year growth rate of 1,300%. The company is scheduled to report its next quarterly earnings report after the market closes on Wednesday, November 7th.

According to Zacks, analysts expect that Murphy Oil will report full year earnings of $1.83 per share for the current year, with EPS estimates ranging from $1.48 to $2.22. For the next year, analysts anticipate that the business will post earnings of $4.67 per share, with EPS estimates ranging from $4.13 to $5.36. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that that provide coverage for Murphy Oil.

Murphy Oil (NYSE:MUR) last announced its quarterly earnings results on Wednesday, August 8th. The oil and gas producer reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.01. The business had revenue of $655.15 million for the quarter, compared to analyst estimates of $623.76 million. Murphy Oil had a positive return on equity of 2.32% and a negative net margin of 6.19%. The company’s quarterly revenue was up 37.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.11) earnings per share.

Several analysts have recently commented on MUR shares. Piper Jaffray Companies reissued a “hold” rating and issued a $43.00 price objective on shares of Murphy Oil in a research note on Wednesday, October 24th. Zacks Investment Research raised Murphy Oil from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a research note on Tuesday, October 23rd. Mizuho raised Murphy Oil from an “underperform” rating to a “neutral” rating and set a $41.00 price objective for the company in a research note on Friday, October 19th. Morgan Stanley reissued a “sell” rating and issued a $30.00 price objective (up from $24.00) on shares of Murphy Oil in a research note on Friday, October 12th. Finally, Credit Suisse Group increased their price objective on Murphy Oil from $37.00 to $39.00 and gave the stock a “neutral” rating in a research note on Thursday, October 11th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $36.27.

Shares of NYSE:MUR opened at $31.19 on Friday. The company has a market capitalization of $5.26 billion, a price-to-earnings ratio of -239.92 and a beta of 2.11. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.35 and a current ratio of 1.46. Murphy Oil has a 52-week low of $24.39 and a 52-week high of $36.53.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Monday, November 12th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.21%. The ex-dividend date is Thursday, November 8th. Murphy Oil’s dividend payout ratio (DPR) is presently -769.23%.

Several institutional investors and hedge funds have recently modified their holdings of MUR. Qube Research & Technologies Ltd purchased a new stake in shares of Murphy Oil during the second quarter valued at approximately $126,000. Legacy Financial Advisors Inc. purchased a new stake in shares of Murphy Oil during the second quarter valued at approximately $135,000. North Star Investment Management Corp. purchased a new stake in shares of Murphy Oil during the second quarter valued at approximately $142,000. Penserra Capital Management LLC increased its position in shares of Murphy Oil by 102.1% during the third quarter. Penserra Capital Management LLC now owns 5,052 shares of the oil and gas producer’s stock valued at $167,000 after acquiring an additional 2,552 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in shares of Murphy Oil during the second quarter valued at approximately $201,000. 88.62% of the stock is owned by institutional investors.

Murphy Oil Company Profile

Murphy Oil Corporation operates as an oil and gas exploration and production company worldwide. 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. Murphy Oil Corporation was founded in 1950 and is headquartered in El Dorado, Arkansas.

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