Murphy Oil (NYSE:MUR) Releases Quarterly Earnings Results, Beats Estimates By $0.17 EPS

Key Points

• Murphy Oil beat quarterly estimates, reporting EPS of $1.08 versus the $0.91 consensus and revenue of $849.17 million versus expectations of $781.53 million. Revenue rose 16.6% year over year.
• Shares fell $3.50 to $35.96 during Wednesday trading despite the earnings beat.
• The company declared a quarterly dividend of $0.35 per share, equivalent to an annualized yield of 3.9%; analysts’ average rating is “Hold,” with a consensus price target of $39.75.

Murphy Oil (NYSE:MUR - Get Free Report) announced its earnings results on Wednesday. The oil and gas producer reported $1.08 EPS for the quarter, topping the consensus estimate of $0.91 by $0.17, FiscalAI reports. The company had revenue of $849.17 million for the quarter, compared to analysts' expectations of $781.53 million. Murphy Oil had a return on equity of 6.63% and a net margin of 9.74%. The business's revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.41 earnings per share.

Murphy Oil Stock Performance

MUR stock traded down $3.50 during trading hours on Wednesday, hitting $35.96. 2,395,649 shares of the stock were exchanged, compared to its average volume of 1,568,902. The company has a 50-day simple moving average of $38.83 and a two-hundred day simple moving average of $36.86. The firm has a market capitalization of $5.16 billion, a P/E ratio of 17.80 and a beta of 0.52. Murphy Oil has a 12 month low of $26.49 and a 12 month high of $45.03. The company has a current ratio of 0.85, a quick ratio of 0.80 and a debt-to-equity ratio of 0.29.

Murphy Oil Dividend Announcement

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

Wall Street Analysts Forecast Growth

MUR has been the topic of several research analyst reports. Wells Fargo & Company restated a "positive" rating on shares of Murphy Oil in a report on Tuesday, September 29th. The Goldman Sachs Group boosted their target price on Murphy Oil from $36.00 to $44.00 and gave the stock a "neutral" rating in a report on Tuesday, October 27th. Jefferies Financial Group set a $35.00 price target on Murphy Oil and gave the company a "hold" rating in a research note on Saturday, October 17th. KeyCorp raised their price target on Murphy Oil from $43.00 to $47.00 and gave the company an "overweight" rating in a report on Tuesday, September 15th. Finally, Wall Street Zen raised shares of Murphy Oil from a "hold" rating to a "buy" rating in a research report on Saturday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $39.75.

About Murphy Oil

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.

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