Murphy Oil Co. (NYSE:MUR) Plans Quarterly Dividend of $0.33

Murphy Oil Co. (NYSE:MUR - Get Free Report) declared a quarterly dividend on Wednesday, April 2nd, RTT News reports. Shareholders of record on Friday, May 16th will be given a dividend of 0.325 per share by the oil and gas producer on Monday, June 2nd. This represents a $1.30 annualized dividend and a yield of 6.18%. The ex-dividend date is Friday, May 16th.

Murphy Oil has increased its dividend by an average of 33.9% annually over the last three years. Murphy Oil has a dividend payout ratio of 33.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Murphy Oil to earn $3.70 per share next year, which means the company should continue to be able to cover its $1.30 annual dividend with an expected future payout ratio of 35.1%.

Murphy Oil Trading Down 5.8 %

Shares of NYSE MUR traded down $1.29 during midday trading on Monday, reaching $21.03. 2,376,426 shares of the stock were exchanged, compared to its average volume of 1,932,735. Murphy Oil has a 12 month low of $20.93 and a 12 month high of $49.14. The company has a market capitalization of $3.00 billion, a price-to-earnings ratio of 7.83 and a beta of 1.68. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.83 and a quick ratio of 0.77. The business has a 50-day simple moving average of $26.96 and a two-hundred day simple moving average of $30.41.

Murphy Oil (NYSE:MUR - Get Free Report) last released its earnings results on Thursday, January 30th. The oil and gas producer reported $0.35 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.27). Murphy Oil had a net margin of 13.44% and a return on equity of 7.66%. During the same period in the prior year, the firm posted $0.90 earnings per share. As a group, equities research analysts expect that Murphy Oil will post 2.94 EPS for the current year.

Remove Ads

Insider Activity at Murphy Oil

In other Murphy Oil news, VP Meenambigai Palanivelu acquired 1,573 shares of the company's stock in a transaction that occurred on Wednesday, February 5th. The stock was acquired at an average cost of $26.70 per share, for a total transaction of $41,999.10. Following the transaction, the vice president now directly owns 37,065 shares in the company, valued at $989,635.50. This represents a 4.43 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Claiborne P. Deming purchased 50,000 shares of the company's stock in a transaction dated Tuesday, February 4th. The stock was purchased at an average price of $26.47 per share, with a total value of $1,323,500.00. Following the completion of the purchase, the director now directly owns 931,651 shares in the company, valued at $24,660,801.97. The trade was a 5.67 % increase in their position. The disclosure for this purchase can be found here. 5.92% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Piper Sandler lowered their price target on Murphy Oil from $35.00 to $34.00 and set an "overweight" rating on the stock in a research report on Thursday, March 6th. KeyCorp dropped their price target on shares of Murphy Oil from $50.00 to $37.00 and set an "overweight" rating on the stock in a research report on Monday, February 3rd. Barclays decreased their price objective on shares of Murphy Oil from $34.00 to $32.00 and set an "equal weight" rating for the company in a research report on Tuesday, March 18th. Roth Capital set a $37.00 target price on shares of Murphy Oil in a report on Thursday, January 23rd. Finally, Mizuho cut their target price on shares of Murphy Oil from $50.00 to $45.00 and set an "outperform" rating for the company in a research note on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $34.92.

About Murphy Oil

Murphy Oil Corporation, together with its subsidiaries, operates as an oil and gas exploration and production company in the United States, Canada, 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.