Zacks: Brokerages Anticipate Murphy Oil Co. (MUR) Will Announce Quarterly Sales of $767.52 Million

Equities research analysts predict that Murphy Oil Co. (NYSE:MUR) will report sales of $767.52 million for the current quarter, Zacks reports. Five analysts have made estimates for Murphy Oil’s earnings, with the lowest sales estimate coming in at $679.00 million and the highest estimate coming in at $1.00 billion. Murphy Oil posted sales of $541.59 million during the same quarter last year, which suggests a positive year-over-year growth rate of 41.7%. The company is expected to announce its next quarterly earnings results on Wednesday, January 30th.

According to Zacks, analysts expect that Murphy Oil will report full year sales of $2.62 billion for the current year, with estimates ranging from $2.53 billion to $2.84 billion. For the next fiscal year, analysts anticipate that the company will post sales of $3.95 billion, with estimates ranging from $3.78 billion to $4.26 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that follow Murphy Oil.

Murphy Oil (NYSE:MUR) last announced its quarterly earnings results on Wednesday, November 7th. The oil and gas producer reported $0.35 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.01). Murphy Oil had a negative net margin of 6.19% and a positive return on equity of 2.32%. The company had revenue of $674.80 million for the quarter, compared to the consensus estimate of $633.20 million. During the same quarter in the prior year, the company earned ($0.38) earnings per share. The company’s quarterly revenue was up 35.4% on a year-over-year basis.

MUR has been the topic of several research reports. Morgan Stanley reissued a “sell” rating and issued a $30.00 target price (up from $24.00) on shares of Murphy Oil in a research report on Friday, October 12th. Mizuho upgraded Murphy Oil from an “underperform” rating to a “neutral” rating and set a $41.00 target price for the company in a report on Friday, October 19th. KLR Group reiterated a “buy” rating and issued a $39.00 target price on shares of Murphy Oil in a report on Monday, August 20th. Zacks Investment Research upgraded Murphy Oil from a “strong sell” rating to a “strong-buy” rating and set a $41.00 target price for the company in a report on Tuesday, October 16th. Finally, Wells Fargo & Co lowered their target price on Murphy Oil from $36.00 to $34.00 and set a “market perform” rating for the company in a report on Friday, August 10th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $36.27.

Shares of MUR traded down $0.18 during midday trading on Tuesday, hitting $30.58. 1,724,815 shares of the company traded hands, compared to its average volume of 2,367,684. Murphy Oil has a one year low of $24.39 and a one year high of $36.53. The stock has a market cap of $5.40 billion, a PE ratio of -235.23 and a beta of 2.11. The company has a quick ratio of 1.35, a current ratio of 1.46 and a debt-to-equity ratio of 0.62.

The company also recently announced a quarterly dividend, which will be paid on Monday, December 3rd. Shareholders of record on Monday, November 12th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.27%. The ex-dividend date of this dividend is Thursday, November 8th. Murphy Oil’s dividend payout ratio is -769.23%.

Several hedge funds have recently modified their holdings of MUR. Dupont Capital Management Corp increased its holdings in shares of Murphy Oil by 4.3% in the third quarter. Dupont Capital Management Corp now owns 40,051 shares of the oil and gas producer’s stock valued at $1,335,000 after purchasing an additional 1,664 shares during the period. Advisory Services Network LLC boosted its position in Murphy Oil by 11.4% during the second quarter. Advisory Services Network LLC now owns 16,553 shares of the oil and gas producer’s stock worth $546,000 after purchasing an additional 1,694 shares in the last quarter. GHP Investment Advisors Inc. boosted its position in Murphy Oil by 29.3% during the third quarter. GHP Investment Advisors Inc. now owns 8,294 shares of the oil and gas producer’s stock worth $277,000 after purchasing an additional 1,879 shares in the last quarter. Strs Ohio boosted its position in Murphy Oil by 24.1% during the third quarter. Strs Ohio now owns 10,897 shares of the oil and gas producer’s stock worth $363,000 after purchasing an additional 2,116 shares in the last quarter. Finally, Penserra Capital Management LLC boosted its position in Murphy Oil by 102.1% during the third quarter. Penserra Capital Management LLC now owns 5,052 shares of the oil and gas producer’s stock worth $167,000 after purchasing an additional 2,552 shares in the last quarter. Institutional investors and hedge funds own 88.62% of the company’s stock.

Murphy Oil Company Profile

Murphy Oil Corporation operates as an oil and gas exploration and production company worldwide. 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. Murphy Oil Corporation was founded in 1950 and is headquartered in El Dorado, Arkansas.

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