Equities Analysts Set Expectations for Murphy Oil Corp.’s Q3 2016 Earnings (MUR)
Murphy Oil Corp. (NYSE:MUR) – Research analysts at Credit Agricole SA issued their Q3 2016 earnings estimates for shares of Murphy Oil Corp. in a note issued to investors on Wednesday. Credit Agricole SA analyst A. Sen expects that the brokerage will post earnings per share of ($0.25) for the quarter. Credit Agricole SA currently has a “Sell” rating on the stock.
Murphy Oil Corp. (NYSE:MUR) last posted its quarterly earnings results on Wednesday, July 27th. The company reported ($0.36) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.39) by $0.03. Murphy Oil Corp. had a negative return on equity of 7.93% and a negative net margin of 106.14%. During the same quarter last year, the business posted ($0.48) EPS.
Several other equities research analysts have also commented on MUR. Zacks Investment Research lowered Murphy Oil Corp. from a “buy” rating to a “hold” rating in a research report on Thursday, August 11th. JPMorgan Chase & Co. restated a “hold” rating on shares of Murphy Oil Corp. in a research report on Thursday, June 30th. Barclays PLC restated an “overweight” rating and set a $42.00 target price on shares of Murphy Oil Corp. in a research report on Monday. Finally, Raymond James Financial Inc. upgraded Murphy Oil Corp. from an “underperform” rating to a “market perform” rating in a research report on Monday, June 20th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company’s stock. Murphy Oil Corp. presently has a consensus rating of “Hold” and a consensus target price of $26.80.
Murphy Oil Corp. (NYSE:MUR) opened at 28.66 on Thursday. Murphy Oil Corp. has a 52-week low of $14.30 and a 52-week high of $37.48. The firm’s 50 day moving average price is $28.00 and its 200 day moving average price is $29.26. The firm’s market cap is $4.94 billion.
Hedge funds have recently added to or reduced their stakes in the company. Legal & General Group Plc increased its stake in Murphy Oil Corp. by 13.1% in the first quarter. Legal & General Group Plc now owns 1,030,188 shares of the company’s stock worth $25,946,000 after buying an additional 119,032 shares in the last quarter. Geode Capital Management LLC increased its stake in Murphy Oil Corp. by 2.6% in the first quarter. Geode Capital Management LLC now owns 1,338,696 shares of the company’s stock worth $33,655,000 after buying an additional 33,876 shares in the last quarter. Prudential Financial Inc. increased its stake in Murphy Oil Corp. by 10.9% in the second quarter. Prudential Financial Inc. now owns 413,453 shares of the company’s stock worth $13,127,000 after buying an additional 40,634 shares in the last quarter. Babson Capital Management LLC increased its stake in Murphy Oil Corp. by 30.4% in the first quarter. Babson Capital Management LLC now owns 18,433 shares of the company’s stock worth $464,000 after buying an additional 4,300 shares in the last quarter. Finally, Spark Investment Management LLC purchased a new stake in Murphy Oil Corp. during the first quarter worth about $1,722,000. 92.61% of the stock is owned by institutional investors and hedge funds.
In other Murphy Oil Corp. news, Director Robert Madison Murphy purchased 22,594 shares of the firm’s stock in a transaction that occurred on Monday, August 8th. The stock was bought at an average cost of $21.93 per share, with a total value of $495,486.42. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 6.39% of the company’s stock.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Monday, November 14th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.49%. The ex-dividend date is Wednesday, November 9th. Murphy Oil Corp.’s payout ratio is -7.24%.
About Murphy Oil Corp.
Murphy Oil Corporation is an oil and gas exploration and production company. The Company’s exploration and production business explores for and produces crude oil, natural gas and natural gas liquids across the world. The Company’s exploration and production activities are subdivided into four geographic segments, including the United States, Canada, Malaysia and all other countries.
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