$757.02 Million in Sales Expected for Murphy Oil Co. (NYSE:MUR) This Quarter

Wall Street brokerages expect Murphy Oil Co. (NYSE:MUR) to post sales of $757.02 million for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Murphy Oil’s earnings. The lowest sales estimate is $720.97 million and the highest is $841.50 million. Murphy Oil posted sales of $692.01 million in the same quarter last year, which would indicate a positive year over year growth rate of 9.4%. The firm is expected to announce its next quarterly earnings results on Thursday, January 30th.

On average, analysts expect that Murphy Oil will report full year sales of $2.90 billion for the current financial year, with estimates ranging from $2.66 billion to $3.17 billion. For the next fiscal year, analysts forecast that the company will post sales of $2.92 billion, with estimates ranging from $2.78 billion to $3.16 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Murphy Oil.

Murphy Oil (NYSE:MUR) last announced its quarterly earnings data on Thursday, October 31st. The oil and gas producer reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.14. Murphy Oil had a return on equity of 3.21% and a net margin of 47.16%. The company had revenue of $817.08 million during the quarter, compared to the consensus estimate of $701.64 million. During the same quarter in the prior year, the firm earned ($0.02) EPS. The company’s quarterly revenue was up 66.6% compared to the same quarter last year.

MUR has been the subject of a number of recent research reports. Piper Jaffray Companies set a $38.00 price objective on Murphy Oil and gave the company a “hold” rating in a research report on Friday, August 16th. ValuEngine raised shares of Murphy Oil from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Goldman Sachs Group raised shares of Murphy Oil from a “neutral” rating to a “buy” rating and set a $30.00 target price on the stock in a research note on Tuesday, July 23rd. MKM Partners set a $38.00 target price on shares of Murphy Oil and gave the company a “buy” rating in a research note on Monday, August 12th. Finally, BMO Capital Markets began coverage on shares of Murphy Oil in a research note on Monday, September 30th. They set an “outperform” rating and a $27.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company. Murphy Oil currently has a consensus rating of “Hold” and an average price target of $30.47.

In other news, Director Walentin Mirosh sold 1,360 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $18.52, for a total value of $25,187.20. Following the transaction, the director now directly owns 25,365 shares of the company’s stock, valued at $469,759.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Thomas J. Mireles sold 1,368 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $24.64, for a total transaction of $33,707.52. Following the completion of the transaction, the senior vice president now directly owns 20,000 shares in the company, valued at $492,800. The disclosure for this sale can be found here. 6.46% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of MUR. Caymus Capital Partners L.P. acquired a new position in shares of Murphy Oil in the second quarter worth $44,387,000. Wedge Capital Management L L P NC increased its stake in shares of Murphy Oil by 14.6% in the third quarter. Wedge Capital Management L L P NC now owns 4,923,941 shares of the oil and gas producer’s stock worth $108,868,000 after acquiring an additional 628,776 shares during the last quarter. Nuveen Asset Management LLC acquired a new position in shares of Murphy Oil in the second quarter worth $13,900,000. KBC Group NV acquired a new position in shares of Murphy Oil in the second quarter worth $12,497,000. Finally, Carlson Capital L P acquired a new position in shares of Murphy Oil in the second quarter worth $4,622,000. 90.04% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE:MUR traded down $0.22 on Thursday, reaching $24.76. 2,772,320 shares of the company traded hands, compared to its average volume of 2,636,558. Murphy Oil has a fifty-two week low of $17.04 and a fifty-two week high of $33.21. The company’s 50 day moving average is $21.06 and its 200-day moving average is $22.80. The stock has a market capitalization of $3.80 billion, a PE ratio of 19.65 and a beta of 2.04. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.23 and a quick ratio of 1.14.

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.04%. The ex-dividend date of this dividend is Friday, November 15th. Murphy Oil’s dividend payout ratio (DPR) is currently 79.37%.

About Murphy Oil

Murphy Oil Corporation operates as an oil and gas exploration and production company in the United States, Canada, Malaysia, 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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