Wall Street analysts expect that Murphy Oil Co. (NYSE:MUR) will report $623.23 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Murphy Oil’s earnings, with the lowest sales estimate coming in at $503.00 million and the highest estimate coming in at $709.20 million. Murphy Oil reported sales of $498.32 million during the same quarter last year, which indicates a positive year-over-year growth rate of 25.1%. The business is scheduled to issue its next quarterly earnings report on Wednesday, November 7th.

On average, analysts expect that Murphy Oil will report full year sales of $2.46 billion for the current fiscal year, with estimates ranging from $2.00 billion to $2.69 billion. For the next financial year, analysts forecast that the company will post sales of $2.62 billion per share, with estimates ranging from $2.02 billion to $2.99 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Murphy Oil.

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

MUR has been the subject of a number of research reports. Morgan Stanley initiated coverage on shares of Murphy Oil in a report on Thursday, July 12th. They set an “underweight” rating and a $26.00 target price for the company. Zacks Investment Research raised shares of Murphy Oil from a “hold” rating to a “buy” rating and set a $35.00 target price for the company in a report on Wednesday, June 6th. KLR Group reaffirmed a “buy” rating and set a $39.00 target price on shares of Murphy Oil in a report on Monday, August 20th. Wells Fargo & Co reduced their target price on shares of Murphy Oil from $36.00 to $34.00 and set a “market perform” rating for the company in a report on Friday, August 10th. Finally, Mizuho initiated coverage on shares of Murphy Oil in a report on Monday, July 23rd. They set an “underperform” rating and a $36.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $33.30.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Penserra Capital Management LLC purchased a new stake in shares of Murphy Oil in the first quarter worth $124,000. Qube Research & Technologies Ltd purchased a new stake in shares of Murphy Oil in the second quarter worth $126,000. Legacy Financial Advisors Inc. bought a new position in shares of Murphy Oil during the second quarter worth $135,000. North Star Investment Management Corp. bought a new position in shares of Murphy Oil during the second quarter worth $142,000. Finally, Jump Trading LLC bought a new position in shares of Murphy Oil during the first quarter worth $200,000. 89.62% of the stock is owned by hedge funds and other institutional investors.

MUR stock traded up $0.18 during midday trading on Friday, reaching $30.93. 772,500 shares of the company’s stock traded hands, compared to its average volume of 2,121,938. Murphy Oil has a 52-week low of $24.39 and a 52-week high of $35.98. The stock has a market cap of $5.41 billion, a P/E ratio of -238.38 and a beta of 2.26. The company has a current ratio of 1.46, a quick ratio of 1.35 and a debt-to-equity ratio of 0.62.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 4th. Stockholders of record on Monday, August 13th were paid a $0.25 dividend. The ex-dividend date was Friday, August 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.23%. Murphy Oil’s dividend payout ratio (DPR) is presently -769.23%.

About Murphy Oil

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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