Murphy Oil Co. (NYSE:MUR) to Post Q1 2023 Earnings of $1.47 Per Share, Capital One Financial Forecasts

Murphy Oil Co. (NYSE:MURGet Rating) – Equities research analysts at Capital One Financial decreased their Q1 2023 earnings estimates for shares of Murphy Oil in a research note issued on Tuesday, November 22nd. Capital One Financial analyst B. Velie now forecasts that the oil and gas producer will post earnings of $1.47 per share for the quarter, down from their previous estimate of $1.62. The consensus estimate for Murphy Oil’s current full-year earnings is $5.93 per share. Capital One Financial also issued estimates for Murphy Oil’s Q2 2023 earnings at $1.54 EPS, Q3 2023 earnings at $1.56 EPS and Q4 2023 earnings at $1.55 EPS.

Several other brokerages have also recently commented on MUR. The Goldman Sachs Group lifted their price objective on shares of Murphy Oil from $44.00 to $50.00 and gave the company a “neutral” rating in a research note on Wednesday. Wells Fargo & Company boosted their target price on shares of Murphy Oil from $45.00 to $48.00 and gave the company an “equal weight” rating in a research note on Friday, November 4th. Mizuho boosted their target price on shares of Murphy Oil from $51.00 to $53.00 and gave the company a “buy” rating in a research note on Monday, October 24th. Piper Sandler boosted their target price on shares of Murphy Oil from $62.00 to $68.00 and gave the company an “overweight” rating in a research note on Thursday, November 17th. Finally, Morgan Stanley decreased their target price on shares of Murphy Oil from $49.00 to $48.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 19th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $52.78.

Murphy Oil Stock Performance

Shares of NYSE MUR opened at $47.45 on Thursday. The company has a current ratio of 0.78, a quick ratio of 0.74 and a debt-to-equity ratio of 0.41. Murphy Oil has a 12 month low of $23.50 and a 12 month high of $51.28. The company has a 50 day simple moving average of $43.78 and a two-hundred day simple moving average of $38.44. The stock has a market cap of $7.38 billion, a price-to-earnings ratio of 7.99 and a beta of 2.47.

Institutional Investors Weigh In On Murphy Oil

A number of large investors have recently modified their holdings of MUR. Lazard Asset Management LLC purchased a new stake in shares of Murphy Oil in the second quarter valued at about $25,000. Quent Capital LLC grew its holdings in shares of Murphy Oil by 36.8% in the first quarter. Quent Capital LLC now owns 1,127 shares of the oil and gas producer’s stock valued at $46,000 after purchasing an additional 303 shares during the period. CoreCap Advisors LLC purchased a new stake in shares of Murphy Oil in the second quarter valued at about $64,000. Signaturefd LLC grew its holdings in shares of Murphy Oil by 37.7% in the third quarter. Signaturefd LLC now owns 2,143 shares of the oil and gas producer’s stock valued at $75,000 after purchasing an additional 587 shares during the period. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Murphy Oil in the first quarter valued at about $77,000. Hedge funds and other institutional investors own 77.38% of the company’s stock.

Insider Buying and Selling

In related news, EVP Eric M. Hambly sold 37,000 shares of the business’s stock in a transaction on Monday, November 14th. The shares were sold at an average price of $50.38, for a total value of $1,864,060.00. Following the completion of the sale, the executive vice president now owns 76,268 shares of the company’s stock, valued at approximately $3,842,381.84. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director T Jay Collins sold 5,000 shares of the company’s stock in a transaction on Tuesday, September 13th. The shares were sold at an average price of $40.32, for a total transaction of $201,600.00. Following the completion of the sale, the director now owns 10,137 shares of the company’s stock, valued at $408,723.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Eric M. Hambly sold 37,000 shares of the company’s stock in a transaction on Monday, November 14th. The stock was sold at an average price of $50.38, for a total transaction of $1,864,060.00. Following the sale, the executive vice president now directly owns 76,268 shares of the company’s stock, valued at approximately $3,842,381.84. The disclosure for this sale can be found here. In the last quarter, insiders sold 285,754 shares of company stock valued at $14,117,095. 6.20% of the stock is owned by corporate insiders.

Murphy Oil Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Monday, November 14th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.11%. The ex-dividend date is Thursday, November 10th. Murphy Oil’s payout ratio is presently 16.84%.

Murphy Oil Company Profile

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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.

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

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