Murphy Oil (MUR) Releases Earnings Results, Misses Estimates By $0.01 EPS

Murphy Oil (NYSE:MUR) released its quarterly earnings results on Wednesday. The oil and gas producer reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01), Briefing.com reports. The business had revenue of $674.80 million for the quarter, compared to analysts’ expectations of $633.20 million. Murphy Oil had a positive return on equity of 2.32% and a negative net margin of 6.19%. The business’s revenue for the quarter was up 35.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.38) earnings per share.

Shares of NYSE MUR traded up $0.10 during midday trading on Friday, hitting $30.86. 749,669 shares of the company’s stock were exchanged, compared to its average volume of 2,367,684. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.35 and a current ratio of 1.46. Murphy Oil has a twelve month low of $24.39 and a twelve month high of $36.53. The firm has a market capitalization of $5.40 billion, a PE ratio of -237.38 and a beta of 2.11.

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Monday, November 12th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.24%. The ex-dividend date is Thursday, November 8th. Murphy Oil’s dividend payout ratio (DPR) is presently -769.23%.

Several hedge funds and other institutional investors have recently modified their holdings of MUR. FMR LLC raised its position in shares of Murphy Oil by 7.2% during the 2nd quarter. FMR LLC now owns 15,868,414 shares of the oil and gas producer’s stock worth $535,876,000 after acquiring an additional 1,065,018 shares in the last quarter. Marshall Wace LLP grew its stake in Murphy Oil by 5,302.0% during the 2nd quarter. Marshall Wace LLP now owns 824,190 shares of the oil and gas producer’s stock worth $27,833,000 after buying an additional 808,933 shares during the last quarter. Wedge Capital Management L L P NC grew its stake in Murphy Oil by 11.7% during the 3rd quarter. Wedge Capital Management L L P NC now owns 5,310,331 shares of the oil and gas producer’s stock worth $177,046,000 after buying an additional 554,530 shares during the last quarter. Aristotle Atlantic Partners LLC grew its stake in Murphy Oil by 2,028.0% during the 2nd quarter. Aristotle Atlantic Partners LLC now owns 548,637 shares of the oil and gas producer’s stock worth $18,526,000 after buying an additional 522,855 shares during the last quarter. Finally, Bessemer Group Inc. purchased a new position in Murphy Oil during the 3rd quarter worth approximately $10,008,000. 88.62% of the stock is currently owned by institutional investors and hedge funds.

A number of research firms have recently weighed in on MUR. Zacks Investment Research upgraded Murphy Oil from a “hold” rating to a “buy” rating and set a $38.00 price target for the company in a report on Tuesday, October 23rd. Piper Jaffray Companies reiterated a “hold” rating and set a $43.00 price target on shares of Murphy Oil in a report on Wednesday, October 24th. Morgan Stanley assumed coverage on Murphy Oil in a report on Thursday, July 12th. They set an “underweight” rating and a $26.00 target price for the company. Mizuho assumed coverage on Murphy Oil in a report on Monday, July 23rd. They set an “underperform” rating and a $36.00 target price for the company. Finally, KLR Group restated a “buy” rating and set a $39.00 target price on shares of Murphy Oil in a report on Monday, August 20th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $36.27.

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About Murphy Oil

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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Earnings History for Murphy Oil (NYSE:MUR)

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