These Analysts Lower Their Forecasts On Murphy Oil After Downbeat Earnings

Benzinga
02/04

Murphy Oil Corporation (NYSE:MUR) reported downbeat fiscal-year fourth-quarter earnings on Thursday.

Murphy reported revenue of $670.96 million, missing analysts estimate of $741.18 million. In addition, the company reported adjusted earnings per share of 35 cents, missing analysts estimate of 57 cents.

"I am pleased that in 2024, we continued to focus on our priorities of Delever, Execute, Explore and Return. As a result, we achieved Murphy 3.0 of our capital allocation framework, strengthened our balance sheet, increased our liquidity, made two impactful discoveries and advanced our Lac Da Vang field development project in Vietnam," said Eric M. Hambly, President and CEO of Murphy.

Murphy issued guidance for the 2025 fiscal-year. It sees capital expenditure of between $1.13 billion and $1.28 billion.

Murphy shares fell 3.5% to trade at $25.70 on Monday.

These analysts made changes to their price targets on Murphy following earnings announcement.

  • Keybanc analyst Tim Rezvan maintained Murphy Oil with an Overweight and lowered the price target from $50 to $37.
  • UBS analyst Josh Silverstein maintained Murphy Oil with a Neutral and lowered the price target from $34 to $32.
  • Barclays analyst Betty Jiang maintained Murphy Oil with an Equal-Weight and lowered the price target from $37 to $34.
  • Wells Fargo analyst Roger Read, on Friday, maintained the stock with an Equal-Weight and cut the price target from $35 to $31.
  • Truist Securities analyst Neal Dingmann, on Friday, downgraded Murphy Oil from Buy to Hold and lowered the price target from $42 to $31..

Considering buying MUR stock? Here’s what analysts think:

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