Capital One Financial Forecasts Murphy Oil FY2024 Earnings

Murphy Oil Co. (NYSE:MUR) – Research analysts at Capital One Financial upped their FY2024 earnings per share (EPS) estimates for shares of Murphy Oil in a note issued to investors on Wednesday, January 8th. Capital One Financial analyst B. Velie now forecasts that the oil and gas producer will post earnings per share of $3.21 for the year, up from their prior forecast of $3.19. The consensus estimate for Murphy Oil’s current full-year earnings is $3.15 per share. Capital One Financial also issued estimates for Murphy Oil’s Q4 2024 earnings at $0.82 EPS, Q1 2025 earnings at $1.07 EPS, Q2 2025 earnings at $1.13 EPS, Q3 2025 earnings at $1.18 EPS, Q4 2025 earnings at $1.21 EPS, FY2025 earnings at $4.60 EPS and FY2026 earnings at $5.34 EPS.

A number of other research analysts also recently issued reports on the stock. KeyCorp reduced their price target on shares of Murphy Oil from $54.00 to $50.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Mizuho lowered their price objective on Murphy Oil from $50.00 to $45.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Truist Financial lowered their price target on shares of Murphy Oil from $55.00 to $42.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Morgan Stanley reduced their target price on shares of Murphy Oil from $43.00 to $39.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th. Finally, Piper Sandler cut their price target on Murphy Oil from $42.00 to $39.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Ten analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $39.58.

Murphy Oil Price Performance

Shares of MUR opened at $33.34 on Friday. The company has a current ratio of 0.71, a quick ratio of 0.65 and a debt-to-equity ratio of 0.24. The firm has a market cap of $4.86 billion, a price-to-earnings ratio of 10.75 and a beta of 2.17. Murphy Oil has a 52 week low of $27.75 and a 52 week high of $49.14. The stock has a 50 day moving average of $31.26 and a 200-day moving average of $35.00.

Murphy Oil (NYSE:MUR) last posted its quarterly earnings data on Thursday, November 7th. The oil and gas producer reported $0.74 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.02). Murphy Oil had a net margin of 14.78% and a return on equity of 9.22%. The company had revenue of $758.33 million for the quarter, compared to the consensus estimate of $759.74 million. During the same quarter last year, the company earned $1.59 earnings per share. The company’s revenue was down 21.0% compared to the same quarter last year.

Institutional Trading of Murphy Oil

Several institutional investors have recently made changes to their positions in the stock. Los Angeles Capital Management LLC bought a new position in shares of Murphy Oil in the 2nd quarter valued at approximately $712,000. Prudential PLC bought a new stake in Murphy Oil during the second quarter valued at about $1,802,000. Headlands Technologies LLC increased its stake in shares of Murphy Oil by 1,434.5% in the second quarter. Headlands Technologies LLC now owns 1,289 shares of the oil and gas producer’s stock worth $53,000 after purchasing an additional 1,205 shares during the period. AGF Management Ltd. acquired a new position in shares of Murphy Oil during the 2nd quarter worth about $2,269,000. Finally, American Century Companies Inc. grew its stake in shares of Murphy Oil by 3.3% in the second quarter. American Century Companies Inc. now owns 845,282 shares of the oil and gas producer’s stock worth $34,859,000 after acquiring an additional 27,106 shares during the last quarter. 78.31% of the stock is currently owned by institutional investors and hedge funds.

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.