KeyCorp Comments on Murphy Oil Co.’s Q1 2024 Earnings (NYSE:MUR)

Posted by on Jul 13th, 2023

Murphy Oil Co. (NYSE:MUR – Free Report) – Equities research analysts at KeyCorp issued their Q1 2024 earnings estimates for Murphy Oil in a research note issued on Monday, July 10th. KeyCorp analyst T. Rezvan forecasts that the oil and gas producer will post earnings per share of $1.45 for the quarter. KeyCorp currently has a “Overweight” rating and a $47.00 price objective on the stock. The consensus estimate for Murphy Oil’s current full-year earnings is $5.11 per share. KeyCorp also issued estimates for Murphy Oil’s Q2 2024 earnings at $1.40 EPS, Q3 2024 earnings at $1.39 EPS, Q4 2024 earnings at $1.38 EPS and FY2024 earnings at $5.62 EPS.

Murphy Oil (NYSE:MUR – Get Free Report) last issued its quarterly earnings data on Wednesday, May 3rd. The oil and gas producer reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.29. The business had revenue of $841.72 million for the quarter, compared to the consensus estimate of $777.23 million. Murphy Oil had a net margin of 30.08% and a return on equity of 19.42%. The company’s quarterly revenue was up 52.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.73 EPS.

MUR has been the subject of a number of other reports. Piper Sandler cut their target price on shares of Murphy Oil from $59.00 to $51.00 in a report on Tuesday, June 13th. Jefferies Financial Group upgraded Murphy Oil from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a report on Monday, April 17th. Mizuho cut their target price on Murphy Oil from $50.00 to $48.00 in a research note on Friday, May 19th. The Goldman Sachs Group lifted their target price on Murphy Oil from $34.00 to $41.00 and gave the stock a “neutral” rating in a report on Friday, April 21st. Finally, StockNews.com assumed coverage on Murphy Oil in a report on Thursday, May 18th. They issued a “hold” rating for the company. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Murphy Oil has a consensus rating of “Moderate Buy” and a consensus target price of $47.09.

Murphy Oil Price Performance

MUR opened at $40.92 on Wednesday. The company’s 50-day simple moving average is $36.81 and its two-hundred day simple moving average is $38.65. Murphy Oil has a 52-week low of $25.97 and a 52-week high of $51.28. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.72 and a current ratio of 0.78. The stock has a market capitalization of $6.39 billion, a P/E ratio of 5.05 and a beta of 2.36.

Institutional Trading of Murphy Oil

Hedge funds and other institutional investors have recently modified their holdings of the business. Toronto Dominion Bank acquired a new position in Murphy Oil in the fourth quarter worth $30,000. Headlands Technologies LLC acquired a new position in shares of Murphy Oil during the first quarter valued at $29,000. Quent Capital LLC lifted its stake in shares of Murphy Oil by 70.5% during the second quarter. Quent Capital LLC now owns 885 shares of the oil and gas producer’s stock valued at $34,000 after acquiring an additional 366 shares during the period. Belpointe Asset Management LLC lifted its stake in shares of Murphy Oil by 68.2% during the first quarter. Belpointe Asset Management LLC now owns 900 shares of the oil and gas producer’s stock valued at $33,000 after acquiring an additional 365 shares during the period. Finally, CoreCap Advisors LLC acquired a new position in shares of Murphy Oil during the fourth quarter valued at $48,000. Institutional investors and hedge funds own 77.02% of the company’s stock.

Insider Buying and Selling

In other Murphy Oil news, CFO Thomas J. Mireles sold 14,500 shares of the company’s stock in a transaction that occurred on Thursday, May 18th. The stock was sold at an average price of $35.14, for a total transaction of $509,530.00. Following the sale, the chief financial officer now owns 58,372 shares in the company, valued at $2,051,192.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 6.20% of the company’s stock.

Murphy Oil Company Profile

(Get Free Report)

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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