Murphy Oil (NYSE:MUR) Posts Earnings Results, Beats Expectations By $0.17 EPS

Murphy Oil (NYSE:MUR) issued its quarterly earnings results on Wednesday. The oil and gas producer reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.17, FiscalAI reports. Murphy Oil had a return on equity of 6.63% and a net margin of 9.74%. The business had revenue of $849.17 million during the quarter, compared to analysts’ expectations of $781.53 million. During the same period in the previous year, the company posted $0.41 earnings per share. The firm’s revenue for the quarter was up 16.6% compared to the same quarter last year.

Murphy Oil Price Performance

Shares of Murphy Oil stock traded down $3.50 during trading on Wednesday, reaching $35.96. 2,395,649 shares of the company’s stock were exchanged, compared to its average volume of 1,568,902. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.80 and a current ratio of 0.85. Murphy Oil has a 1-year low of $26.49 and a 1-year high of $45.03. The company has a market cap of $5.16 billion, a P/E ratio of 17.80 and a beta of 0.52. The firm’s 50-day moving average price is $38.83 and its 200 day moving average price is $36.86.

Murphy Oil Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Monday, November 16th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, November 16th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.9%. Murphy Oil’s payout ratio is 69.31%.

Analyst Upgrades and Downgrades

MUR has been the subject of a number of recent analyst reports. Seaport Research Partners began coverage on Murphy Oil in a research report on Thursday, September 3rd. They set a “neutral” rating for the company. Barclays downgraded Murphy Oil from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $38.00 to $34.00 in a research note on Friday, August 14th. Wall Street Zen upgraded shares of Murphy Oil from a “hold” rating to a “buy” rating in a research note on Saturday, October 17th. UBS Group raised their target price on shares of Murphy Oil from $38.00 to $40.00 and gave the company a “neutral” rating in a report on Wednesday, October 14th. Finally, Morgan Stanley boosted their target price on shares of Murphy Oil from $36.00 to $37.00 and gave the company an “underweight” rating in a research report on Thursday, October 15th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $39.75.

Murphy Oil Company Profile

Murphy Oil Corporation (NYSE:MUR) is an independent oil and natural gas exploration and production company. Its activities include identifying, acquiring, developing and producing crude oil, natural gas and natural gas liquids, with a focus on high-quality assets in North America.

The company’s operations are primarily located in the United States, including onshore assets in the Eagle Ford Shale of South Texas and offshore properties in the Gulf of Mexico. Murphy Oil has also historically maintained exploration and production interests in Canada and other international regions, although its current portfolio is concentrated in the United States.

Founded in 1950, Murphy Oil has evolved from a diversified energy company into a focused exploration and production business.