Murphy Oil (NYSE:MUR) Hits New 12-Month Low - Here's Why

Murphy Oil Co. (NYSE:MUR - Get Free Report) hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $31.51 and last traded at $31.69, with a volume of 54590 shares changing hands. The stock had previously closed at $31.86.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on MUR shares. Wolfe Research began coverage on shares of Murphy Oil in a research report on Thursday, July 18th. They issued a "peer perform" rating on the stock. Scotiabank decreased their price target on shares of Murphy Oil from $47.00 to $36.00 and set a "sector perform" rating on the stock in a research note on Thursday, October 10th. The Goldman Sachs Group decreased their price target on shares of Murphy Oil from $44.00 to $39.00 and set a "neutral" rating on the stock in a research note on Monday, October 7th. Truist Financial decreased their price target on shares of Murphy Oil from $55.00 to $42.00 and set a "buy" rating on the stock in a research note on Monday, September 30th. Finally, Piper Sandler decreased their price target on shares of Murphy Oil from $44.00 to $43.00 and set an "overweight" rating on the stock in a research note on Tuesday, October 15th. Ten analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $41.17.

Murphy Oil Stock Performance

The firm's fifty day moving average price is $35.03 and its 200 day moving average price is $39.24. The company has a current ratio of 0.82, a quick ratio of 0.76 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $4.55 billion, a price-to-earnings ratio of 8.38 and a beta of 2.20.

Murphy Oil (NYSE:MUR - Get Free Report) last announced its earnings results on Thursday, August 8th. The oil and gas producer reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.08. Murphy Oil had a net margin of 17.32% and a return on equity of 11.68%. The firm had revenue of $802.80 million for the quarter, compared to the consensus estimate of $813.97 million. During the same period in the prior year, the firm earned $0.79 EPS. The firm's revenue for the quarter was down 1.4% on a year-over-year basis. Analysts forecast that Murphy Oil Co. will post 3.46 EPS for the current fiscal year.

Murphy Oil Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.84%. The ex-dividend date of this dividend is Monday, November 18th. Murphy Oil's payout ratio is currently 31.58%.

Institutional Investors Weigh In On Murphy Oil

Large investors have recently added to or reduced their stakes in the business. Mather Group LLC. increased its position in shares of Murphy Oil by 1,015.7% in the 2nd quarter. Mather Group LLC. now owns 569 shares of the oil and gas producer's stock valued at $26,000 after purchasing an additional 518 shares during the last quarter. Reston Wealth Management LLC purchased a new stake in shares of Murphy Oil in the 3rd quarter valued at approximately $27,000. Compass Wealth Management LLC purchased a new stake in shares of Murphy Oil in the 3rd quarter valued at approximately $42,000. Bruce G. Allen Investments LLC increased its position in shares of Murphy Oil by 106.5% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 1,470 shares of the oil and gas producer's stock valued at $50,000 after purchasing an additional 758 shares during the last quarter. Finally, Headlands Technologies LLC increased its position in shares of Murphy Oil by 1,434.5% in the 2nd quarter. Headlands Technologies LLC now owns 1,289 shares of the oil and gas producer's stock valued at $53,000 after purchasing an additional 1,205 shares during the last quarter. 78.31% of the stock is owned by hedge funds and other institutional investors.

Murphy Oil Company Profile

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.