Equities analysts forecast that Murphy Oil Co. (NYSE:MUR) will report sales of $661.23 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Murphy Oil’s earnings, with the lowest sales estimate coming in at $637.00 million and the highest estimate coming in at $709.20 million. Murphy Oil posted sales of $498.32 million in the same quarter last year, which suggests a positive year-over-year growth rate of 32.7%. The firm is expected to issue its next earnings results after the market closes on Wednesday, November 7th.

On average, analysts expect that Murphy Oil will report full year sales of $2.56 billion for the current year, with estimates ranging from $2.50 billion to $2.69 billion. For the next fiscal year, analysts anticipate that the business will report sales of $2.75 billion, with estimates ranging from $2.65 billion to $2.99 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Murphy Oil.

Murphy Oil (NYSE:MUR) last issued its earnings results on Wednesday, August 8th. The oil and gas producer reported $0.36 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.01. Murphy Oil had a positive return on equity of 2.32% and a negative net margin of 6.19%. The company had revenue of $655.15 million during the quarter, compared to the consensus estimate of $623.76 million. During the same period in the previous year, the company posted ($0.11) EPS. The firm’s revenue for the quarter was up 37.2% compared to the same quarter last year.

Several brokerages have recently commented on MUR. Credit Suisse Group lifted their target price on Murphy Oil from $37.00 to $39.00 and gave the stock a “neutral” rating in a research note on Thursday. Barclays boosted their price target on Murphy Oil from $34.00 to $36.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 11th. Wells Fargo & Co reduced their price target on Murphy Oil from $36.00 to $34.00 and set a “market perform” rating for the company in a research note on Friday, August 10th. Morgan Stanley reduced their price target on Murphy Oil from $26.00 to $24.00 and set a “sell” rating for the company in a research note on Thursday, August 16th. Finally, Zacks Investment Research upgraded Murphy Oil from a “hold” rating to a “buy” rating and set a $35.00 price target for the company in a research note on Friday, August 24th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $34.80.

Shares of NYSE MUR opened at $35.78 on Friday. The company has a quick ratio of 1.35, a current ratio of 1.46 and a debt-to-equity ratio of 0.62. Murphy Oil has a 12 month low of $24.39 and a 12 month high of $36.53. The company has a market cap of $5.77 billion, a PE ratio of -275.23 and a beta of 2.25.

The company also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Investors of record on Monday, November 12th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $1.00 annualized dividend and a yield of 2.79%. Murphy Oil’s dividend payout ratio (DPR) is presently -769.23%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Advisory Services Network LLC boosted its stake in Murphy Oil by 11.4% in the 2nd quarter. Advisory Services Network LLC now owns 16,553 shares of the oil and gas producer’s stock valued at $546,000 after purchasing an additional 1,694 shares during the period. Aperio Group LLC raised its holdings in Murphy Oil by 2.1% in the 2nd quarter. Aperio Group LLC now owns 129,571 shares of the oil and gas producer’s stock valued at $4,376,000 after acquiring an additional 2,661 shares in the last quarter. Fox Run Management L.L.C. raised its holdings in Murphy Oil by 25.2% in the 2nd quarter. Fox Run Management L.L.C. now owns 13,597 shares of the oil and gas producer’s stock valued at $459,000 after acquiring an additional 2,734 shares in the last quarter. American International Group Inc. raised its holdings in Murphy Oil by 0.9% in the 2nd quarter. American International Group Inc. now owns 327,393 shares of the oil and gas producer’s stock valued at $11,056,000 after acquiring an additional 2,853 shares in the last quarter. Finally, Stephens Inc. AR raised its holdings in Murphy Oil by 4.3% in the 2nd quarter. Stephens Inc. AR now owns 72,786 shares of the oil and gas producer’s stock valued at $2,458,000 after acquiring an additional 3,025 shares in the last quarter. Institutional investors and hedge funds own 89.65% of the company’s stock.

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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Earnings History and Estimates for Murphy Oil (NYSE:MUR)

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