Murphy Oil Corp. (MUR) to Post FY2016 Earnings of ($1.46) Per Share, Credit Agricole SA Forecasts
Murphy Oil Corp. (NYSE:MUR) – Equities research analysts at Credit Agricole SA upped their FY2016 earnings estimates for shares of Murphy Oil Corp. in a research note issued on Wednesday. Credit Agricole SA analyst A. Sen now expects that the brokerage will earn ($1.46) per share for the year, up from their prior estimate of ($1.85). Credit Agricole SA has a “Sell” rating on the stock. Credit Agricole SA also issued estimates for Murphy Oil Corp.’s FY2017 earnings at $0.23 EPS and FY2018 earnings at $0.92 EPS.
Murphy Oil Corp. (NYSE:MUR) last announced its earnings results on Wednesday, July 27th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.39) by $0.03. Murphy Oil Corp. had a negative net margin of 106.14% and a negative return on equity of 7.93%. During the same period last year, the business earned ($0.48) EPS.
MUR has been the subject of a number of other reports. Zacks Investment Research raised Murphy Oil Corp. from a “hold” rating to a “buy” rating and set a $33.00 price target for the company in a report on Wednesday. Barclays PLC reaffirmed an “overweight” rating and issued a $42.00 price target on shares of Murphy Oil Corp. in a report on Monday, October 10th. Raymond James Financial Inc. raised Murphy Oil Corp. from an “underperform” rating to a “market perform” rating in a report on Monday, June 20th. Finally, JPMorgan Chase & Co. reaffirmed a “hold” rating on shares of Murphy Oil Corp. in a report on Thursday, June 30th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $26.80.
Shares of Murphy Oil Corp. (NYSE:MUR) opened at 28.98 on Friday. The firm’s market cap is $4.99 billion. Murphy Oil Corp. has a 12 month low of $14.30 and a 12 month high of $37.48. The stock has a 50 day moving average of $28.00 and a 200 day moving average of $29.30.
A number of large investors have recently added to or reduced their stakes in the stock. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in Murphy Oil Corp. by 0.3% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 31,272 shares of the company’s stock worth $993,000 after buying an additional 89 shares during the last quarter. Capstone Asset Management Co. increased its stake in Murphy Oil Corp. by 0.9% in the third quarter. Capstone Asset Management Co. now owns 10,049 shares of the company’s stock worth $305,000 after buying an additional 90 shares during the last quarter. Advantus Capital Management Inc increased its stake in Murphy Oil Corp. by 0.8% in the second quarter. Advantus Capital Management Inc now owns 15,632 shares of the company’s stock worth $496,000 after buying an additional 121 shares during the last quarter. Gateway Investment Advisers LLC increased its stake in Murphy Oil Corp. by 0.9% in the second quarter. Gateway Investment Advisers LLC now owns 16,575 shares of the company’s stock worth $526,000 after buying an additional 151 shares during the last quarter. Finally, Norinchukin Bank The increased its stake in Murphy Oil Corp. by 2.3% in the second quarter. Norinchukin Bank The now owns 8,490 shares of the company’s stock worth $270,000 after buying an additional 190 shares during the last quarter. Institutional investors and hedge funds own 92.61% of the company’s stock.
In other news, Director Robert Madison Murphy purchased 22,594 shares of the stock in a transaction on Monday, August 8th. The shares were acquired at an average price of $21.93 per share, for a total transaction of $495,486.42. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 6.39% of the company’s stock.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Monday, November 14th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, November 9th. This represents a $1.00 dividend on an annualized basis and a yield of 3.45%. Murphy Oil Corp.’s payout ratio is -7.24%.
Murphy Oil Corp. Company Profile
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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