Brokerages forecast that Murphy Oil Co. (NYSE:MUR) will announce $541.17 million in sales for the current quarter, Zacks reports. Three analysts have made estimates for Murphy Oil’s earnings. The lowest sales estimate is $528.00 million and the highest is $550.50 million. Murphy Oil posted sales of $585.61 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 7.6%. The company is scheduled to announce its next quarterly earnings report before the market opens on Thursday, May 2nd.

According to Zacks, analysts expect that Murphy Oil will report full-year sales of $2.56 billion for the current financial year, with estimates ranging from $2.41 billion to $2.78 billion. For the next fiscal year, analysts expect that the company will post sales of $2.86 billion, with estimates ranging from $2.33 billion to $3.71 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Murphy Oil.

Murphy Oil (NYSE:MUR) last posted its quarterly earnings results on Thursday, January 31st. The oil and gas producer reported $0.31 EPS for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.04. Murphy Oil had a net margin of 15.99% and a return on equity of 4.51%. The firm had revenue of $692.01 million for the quarter, compared to analysts’ expectations of $668.85 million. During the same quarter in the prior year, the company posted $0.08 earnings per share.

Several equities research analysts recently issued reports on MUR shares. ValuEngine upgraded shares of Murphy Oil from a “sell” rating to a “hold” rating in a report on Monday, February 4th. Morgan Stanley set a $19.00 price target on shares of Murphy Oil and gave the company a “sell” rating in a report on Tuesday, January 29th. TheStreet upgraded shares of Murphy Oil from a “c+” rating to a “b” rating in a report on Friday, February 1st. Zacks Investment Research upgraded shares of Murphy Oil from a “sell” rating to a “hold” rating and set a $33.00 price target on the stock in a report on Friday, March 8th. Finally, Barclays reiterated a “hold” rating and issued a $32.00 price target on shares of Murphy Oil in a report on Friday, January 11th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $34.46.

In other Murphy Oil news, VP John B. Gardner sold 8,364 shares of Murphy Oil stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $28.94, for a total value of $242,054.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 6.46% of the company’s stock.

Large investors have recently modified their holdings of the business. First Mercantile Trust Co. grew its stake in shares of Murphy Oil by 109.2% in the 4th quarter. First Mercantile Trust Co. now owns 1,360 shares of the oil and gas producer’s stock worth $32,000 after buying an additional 710 shares in the last quarter. Enlightenment Research LLC purchased a new position in shares of Murphy Oil during the 4th quarter worth about $61,000. Murphy Pohlad Asset Management LLC purchased a new position in shares of Murphy Oil during the 4th quarter worth about $117,000. Oppenheimer Asset Management Inc. purchased a new position in shares of Murphy Oil during the 4th quarter worth about $119,000. Finally, Investors Research Corp purchased a new position in shares of Murphy Oil during the 1st quarter worth about $149,000. 87.50% of the stock is owned by institutional investors and hedge funds.

MUR stock traded up $0.52 on Tuesday, hitting $29.16. The company had a trading volume of 4,756,902 shares, compared to its average volume of 1,955,162. Murphy Oil has a 12-month low of $21.51 and a 12-month high of $36.53. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $4.73 billion, a P/E ratio of 23.14 and a beta of 2.21.

The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 20th will be issued a $0.25 dividend. The ex-dividend date is Friday, May 17th. This represents a $1.00 dividend on an annualized basis and a yield of 3.43%. Murphy Oil’s dividend payout ratio 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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