Murphy Oil Co. (NYSE:MUR) Expected to Announce Quarterly Sales of $758.50 Million

Analysts forecast that Murphy Oil Co. (NYSE:MUR) will announce $758.50 million in sales for the current quarter, according to Zacks. Four analysts have issued estimates for Murphy Oil’s earnings, with estimates ranging from $709.89 million to $841.50 million. Murphy Oil reported sales of $692.01 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 9.6%. The company is scheduled to report its next earnings report before the market opens on Thursday, January 30th.

On average, analysts expect that Murphy Oil will report full year sales of $2.83 billion for the current financial year, with estimates ranging from $2.68 billion to $2.96 billion. For the next year, analysts expect that the business will post sales of $2.99 billion, with estimates ranging from $2.74 billion to $3.16 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Murphy Oil.

Murphy Oil (NYSE:MUR) last posted its quarterly earnings data on Thursday, October 31st. The oil and gas producer reported $0.36 earnings per share for the quarter, topping 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 business had revenue of $817.08 million for the quarter, compared to analyst estimates of $701.64 million. During the same quarter in the prior year, the company earned ($0.02) earnings per share. The company’s revenue was up 66.6% on a year-over-year basis.

Several equities analysts recently commented on the company. ValuEngine raised Murphy Oil from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. BMO Capital Markets assumed coverage on Murphy Oil in a report on Monday, September 30th. They issued an “outperform” rating and a $27.00 target price on the stock. UBS Group dropped their target price on Murphy Oil from $29.00 to $27.00 and set a “neutral” rating on the stock in a report on Tuesday, October 1st. Scotiabank lowered Murphy Oil from an “outperform” rating to a “sector perform” rating in a report on Tuesday, November 12th. Finally, TheStreet raised Murphy Oil from a “c+” rating to a “b” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $29.69.

In other Murphy Oil news, VP Barry F.R. Jeffery sold 2,585 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $26.03, for a total transaction of $67,287.55. Following the transaction, the vice president now owns 30,000 shares of the company’s stock, valued at $780,900. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Thomas J. Mireles sold 1,368 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $24.64, for a total value of $33,707.52. Following the transaction, the senior vice president now directly owns 20,000 shares in the company, valued at approximately $492,800. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 9,654 shares of company stock worth $240,941. Corporate insiders own 6.46% of the company’s stock.

Several hedge funds have recently modified their holdings of MUR. NuWave Investment Management LLC grew its holdings in shares of Murphy Oil by 391.9% during the third quarter. NuWave Investment Management LLC now owns 2,617 shares of the oil and gas producer’s stock worth $53,000 after purchasing an additional 2,085 shares during the last quarter. Tower Research Capital LLC TRC acquired a new stake in shares of Murphy Oil during the second quarter worth about $72,000. Capital Investment Advisory Services LLC boosted its stake in shares of Murphy Oil by 583.3% during the third quarter. Capital Investment Advisory Services LLC now owns 4,100 shares of the oil and gas producer’s stock worth $91,000 after buying an additional 3,500 shares during the period. Oppenheimer Asset Management Inc. boosted its stake in shares of Murphy Oil by 14.0% during the third quarter. Oppenheimer Asset Management Inc. now owns 6,574 shares of the oil and gas producer’s stock worth $145,000 after buying an additional 806 shares during the period. Finally, Macquarie Group Ltd. acquired a new stake in shares of Murphy Oil during the second quarter worth about $205,000. 94.95% of the stock is currently owned by institutional investors.

Shares of Murphy Oil stock traded down $0.99 during trading hours on Wednesday, reaching $25.33. 3,055,653 shares of the company were exchanged, compared to its average volume of 1,887,772. The firm has a market cap of $4.14 billion, a PE ratio of 25.55 and a beta of 2.14. The stock’s fifty day moving average is $25.85 and its 200 day moving average is $22.66. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.14 and a current ratio of 1.23. Murphy Oil has a 1 year low of $17.04 and a 1 year high of $31.13.

Murphy Oil Company Profile

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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Earnings History and Estimates for Murphy Oil (NYSE:MUR)

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