Murphy Oil (NYSE:MUR) Issues Quarterly Earnings Results

Key Points

• Murphy Oil reported $1.55 in quarterly EPS, narrowly missing the $1.57 analyst consensus, while revenue reached $926.33 million and exceeded estimates of $888.51 million. Revenue increased 33.5% year over year, and EPS rose from $0.27 in the prior-year quarter.
• Shares fell $2.35 to $36.03 following the results. Murphy Oil has a $5.17 billion market capitalization, a 0.30 debt-to-equity ratio and institutional ownership of 78.31%.
• Analyst sentiment remains cautious, with the stock carrying an average “Hold” rating and a consensus price target of $38.33; ratings range from overweight to underperform, with 11 analysts at Hold.

Murphy Oil (NYSE:MUR - Get Free Report) posted its earnings results on Wednesday. The oil and gas producer reported $1.55 EPS for the quarter, missing analysts' consensus estimates of $1.57 by ($0.02), FiscalAI reports. Murphy Oil had a return on equity of 3.09% and a net margin of 3.02%.The business had revenue of $926.33 million during the quarter, compared to the consensus estimate of $888.51 million. During the same period in the previous year, the business posted $0.27 EPS. The firm's revenue for the quarter was up 33.5% on a year-over-year basis.

Murphy Oil Stock Performance

MUR traded down $2.35 during trading on Wednesday, hitting $36.03. The company's stock had a trading volume of 2,365,619 shares, compared to its average volume of 1,484,768. The company has a quick ratio of 0.77, a current ratio of 0.83 and a debt-to-equity ratio of 0.30. Murphy Oil has a one year low of $21.86 and a one year high of $43.34. The firm has a market cap of $5.17 billion, a PE ratio of 61.07 and a beta of 0.50. The business's 50 day simple moving average is $36.27 and its 200-day simple moving average is $36.26.

Institutional Investors Weigh In On Murphy Oil

A number of hedge funds have recently modified their holdings of the business. CIBC Private Wealth Group LLC bought a new position in Murphy Oil in the 4th quarter worth $26,000. EverSource Wealth Advisors LLC lifted its position in Murphy Oil by 437.8% during the second quarter. EverSource Wealth Advisors LLC now owns 3,802 shares of the oil and gas producer's stock valued at $86,000 after purchasing an additional 3,095 shares in the last quarter. Coldstream Capital Management Inc. bought a new stake in Murphy Oil during the third quarter valued at about $204,000. Paces Ferry Wealth Advisors LLC purchased a new stake in Murphy Oil in the third quarter worth about $219,000. Finally, Inceptionr LLC purchased a new stake in Murphy Oil in the third quarter worth about $225,000. Institutional investors own 78.31% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on MUR shares. Weiss Ratings reiterated a "hold (c)" rating on shares of Murphy Oil in a research note on Wednesday, June 24th. Wall Street Zen downgraded shares of Murphy Oil from a "buy" rating to a "hold" rating in a research report on Saturday, June 27th. KeyCorp upgraded shares of Murphy Oil from a "sector weight" rating to an "overweight" rating and set a $48.00 target price on the stock in a report on Thursday, June 4th. Jefferies Financial Group downgraded shares of Murphy Oil from a "buy" rating to an "underperform" rating in a research report on Thursday, June 4th. Finally, Scotiabank reiterated a "sector perform" rating and set a $44.00 target price on shares of Murphy Oil in a research note on Wednesday, May 13th. Three analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $38.33.

About Murphy Oil

Murphy Oil Corporation is an independent upstream oil and gas company engaged in the exploration, development and production of crude oil, natural gas and natural gas liquids. The company's operations encompass conventional onshore and offshore reservoirs, with an emphasis on liquids-rich properties and deepwater assets. Through a combination of proprietary technologies and strategic joint ventures, Murphy Oil seeks to optimize recovery rates and manage its portfolio to balance long-term resource development with operational flexibility.

Murphy Oil's exploration and production activities are geographically diversified.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source