Wall Street analysts predict that Murphy Oil Co. (NYSE:MUR) will report $747.62 million in sales for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Murphy Oil’s earnings, with the highest sales estimate coming in at $777.00 million and the lowest estimate coming in at $720.00 million. Murphy Oil posted sales of $674.80 million during the same quarter last year, which would indicate a positive year over year growth rate of 10.8%. The business is expected to announce its next quarterly earnings results on Wednesday, November 6th.

On average, analysts expect that Murphy Oil will report full-year sales of $2.68 billion for the current fiscal year, with estimates ranging from $2.50 billion to $2.83 billion. For the next fiscal year, analysts expect that the firm will report sales of $3.10 billion, with estimates ranging from $2.33 billion to $3.96 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that follow Murphy Oil.

Murphy Oil (NYSE:MUR) last announced its quarterly earnings data on Thursday, August 8th. The oil and gas producer reported $0.21 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.03. Murphy Oil had a net margin of 12.37% and a return on equity of 3.48%. The company had revenue of $709.00 million during the quarter, compared to analysts’ expectations of $612.71 million. During the same quarter in the prior year, the company earned $0.36 EPS. The firm’s revenue was up 81.8% on a year-over-year basis.

A number of equities research analysts recently commented on the stock. Goldman Sachs Group upgraded shares of Murphy Oil from a “neutral” rating to a “buy” rating and set a $30.00 price target for the company in a report on Tuesday, July 23rd. Credit Suisse Group lowered their price target on shares of Murphy Oil from $30.00 to $25.00 and set a “neutral” rating for the company in a report on Friday, August 9th. Evercore ISI assumed coverage on shares of Murphy Oil in a report on Thursday, May 30th. They set an “in-line” rating and a $30.00 price target for the company. MKM Partners set a $38.00 price target on shares of Murphy Oil and gave the company a “buy” rating in a report on Monday. Finally, Capital One Financial assumed coverage on shares of Murphy Oil in a report on Wednesday, July 10th. They set an “overweight” rating and a $37.00 price target for the company. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company. Murphy Oil has a consensus rating of “Hold” and an average price target of $32.85.

NYSE:MUR traded up $0.17 during midday trading on Thursday, reaching $18.52. 3,657,670 shares of the stock traded hands, compared to its average volume of 2,369,729. The company has a fifty day moving average of $22.69 and a 200 day moving average of $26.29. Murphy Oil has a 12 month low of $17.90 and a 12 month high of $36.53. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.56 and a current ratio of 1.25. The stock has a market capitalization of $3.15 billion, a P/E ratio of 14.70 and a beta of 1.94.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Monday, August 19th will be issued a $0.25 dividend. The ex-dividend date is Friday, August 16th. This represents a $1.00 annualized dividend and a yield of 5.40%. Murphy Oil’s dividend payout ratio (DPR) is presently 79.37%.

In other Murphy Oil news, Director Walentin Mirosh sold 1,360 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $18.52, for a total value of $25,187.20. Following the completion of the transaction, the director now directly owns 25,365 shares in the company, valued at approximately $469,759.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.46% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Louisiana State Employees Retirement System increased its stake in shares of Murphy Oil by 0.9% in the 1st quarter. Louisiana State Employees Retirement System now owns 43,600 shares of the oil and gas producer’s stock worth $1,277,000 after acquiring an additional 400 shares in the last quarter. Municipal Employees Retirement System of Michigan increased its stake in shares of Murphy Oil by 1.4% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 30,080 shares of the oil and gas producer’s stock worth $741,000 after acquiring an additional 420 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Murphy Oil by 0.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 54,738 shares of the oil and gas producer’s stock worth $1,603,000 after acquiring an additional 501 shares in the last quarter. Oppenheimer Asset Management Inc. increased its stake in shares of Murphy Oil by 10.8% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 5,768 shares of the oil and gas producer’s stock worth $142,000 after acquiring an additional 560 shares in the last quarter. Finally, First Hawaiian Bank increased its stake in shares of Murphy Oil by 3.8% in the 2nd quarter. First Hawaiian Bank now owns 16,062 shares of the oil and gas producer’s stock worth $396,000 after acquiring an additional 583 shares in the last quarter. Institutional investors and hedge funds own 86.86% of the company’s stock.

Murphy Oil Company Profile

Murphy Oil Corporation operates as an oil and gas exploration and production company in the United States, Canada, Malaysia, 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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