Shares of Murphy Oil Co. (NYSE:MUR - Get Free Report) fell 2.6% during mid-day trading on Monday . The company traded as low as $31.54 and last traded at $31.92. 106,291 shares traded hands during trading, a decline of 94% from the average session volume of 1,663,950 shares. The stock had previously closed at $32.78.
Analyst Upgrades and Downgrades
A number of equities research analysts recently weighed in on the stock. Wolfe Research initiated coverage on shares of Murphy Oil in a research note on Thursday, July 18th. They set a "peer perform" rating on the stock. UBS Group lowered their target price on shares of Murphy Oil from $45.00 to $39.00 and set a "neutral" rating on the stock in a research note on Wednesday, September 18th. KeyCorp reduced their price target on shares of Murphy Oil from $54.00 to $50.00 and set an "overweight" rating for the company in a research note on Wednesday, October 16th. Barclays decreased their price objective on shares of Murphy Oil from $46.00 to $38.00 and set an "equal weight" rating for the company in a report on Thursday, October 3rd. Finally, Piper Sandler dropped their target price on Murphy Oil from $44.00 to $43.00 and set an "overweight" rating on the stock in a report on Tuesday, October 15th. Ten research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Murphy Oil has an average rating of "Hold" and an average price target of $41.17.
Get Our Latest Report on Murphy Oil
Murphy Oil Price Performance
The company has a quick ratio of 0.76, a current ratio of 0.82 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $4.65 billion, a PE ratio of 8.38 and a beta of 2.20. The stock's 50-day moving average is $35.03 and its 200 day moving average is $39.24.
Murphy Oil (NYSE:MUR - Get Free Report) last posted its quarterly earnings results on Thursday, August 8th. The oil and gas producer reported $0.81 earnings per share for the quarter, topping analysts' consensus estimates of $0.73 by $0.08. The business had revenue of $802.80 million for the quarter, compared to the consensus estimate of $813.97 million. Murphy Oil had a net margin of 17.32% and a return on equity of 11.68%. Murphy Oil's revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.79 earnings per share. As a group, equities analysts predict that Murphy Oil Co. will post 3.46 earnings per share for the current year.
Murphy Oil Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date is Monday, November 18th. Murphy Oil's dividend payout ratio (DPR) is presently 31.58%.
Institutional Investors Weigh In On Murphy Oil
Large investors have recently made changes to their positions in the company. Vaughan Nelson Investment Management L.P. lifted its stake in Murphy Oil by 23.0% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 1,132,305 shares of the oil and gas producer's stock valued at $51,746,000 after acquiring an additional 212,100 shares during the last quarter. State of Michigan Retirement System boosted its holdings in Murphy Oil by 1.1% in the first quarter. State of Michigan Retirement System now owns 35,647 shares of the oil and gas producer's stock worth $1,629,000 after purchasing an additional 400 shares in the last quarter. Monument Capital Management bought a new stake in Murphy Oil in the first quarter worth $202,000. BNP Paribas Financial Markets increased its position in Murphy Oil by 3.9% during the first quarter. BNP Paribas Financial Markets now owns 113,677 shares of the oil and gas producer's stock worth $5,195,000 after buying an additional 4,259 shares during the last quarter. Finally, Janney Montgomery Scott LLC bought a new position in Murphy Oil during the first quarter valued at about $1,022,000. Institutional investors own 78.31% of the company's stock.
About Murphy Oil
(
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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.
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