Murphy Oil (NYSE:MUR) Trading Down 9.6%

Murphy Oil Co. (NYSE:MURGet Rating)’s share price dropped 9.6% during mid-day trading on Friday . The stock traded as low as $32.98 and last traded at $33.09. Approximately 32,122 shares were traded during mid-day trading, a decline of 97% from the average daily volume of 1,228,140 shares. The stock had previously closed at $36.61.

Analyst Ratings Changes

MUR has been the subject of several recent analyst reports. Piper Sandler decreased their price objective on shares of Murphy Oil from $49.00 to $47.00 and set an “overweight” rating for the company in a report on Friday, July 22nd. Mizuho reduced their price target on shares of Murphy Oil from $59.00 to $51.00 and set a “buy” rating for the company in a research report on Tuesday, July 19th. MKM Partners restated a “buy” rating and issued a $38.00 price target on shares of Murphy Oil in a research report on Wednesday, July 20th. StockNews.com upgraded shares of Murphy Oil from a “hold” rating to a “buy” rating in a research report on Thursday, September 15th. Finally, The Goldman Sachs Group increased their target price on shares of Murphy Oil from $34.00 to $38.00 and gave the stock a “neutral” rating in a research report on Monday, August 22nd. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $48.13.

Murphy Oil Stock Down 8.8 %

The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.62 and a current ratio of 0.66. The firm has a market capitalization of $5.19 billion, a price-to-earnings ratio of 10.20 and a beta of 2.48. The business’s 50 day moving average is $35.86 and its 200-day moving average is $37.00.

Murphy Oil (NYSE:MURGet Rating) last posted its quarterly earnings results on Thursday, August 4th. The oil and gas producer reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.56 by $0.37. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $880.87 million. Murphy Oil had a net margin of 17.00% and a return on equity of 12.07%. The business’s quarterly revenue was up 100.3% on a year-over-year basis. During the same period last year, the business posted $0.59 EPS. Equities analysts anticipate that Murphy Oil Co. will post 6.12 EPS for the current fiscal year.

Murphy Oil Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Monday, August 15th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.99%. This is an increase from Murphy Oil’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Friday, August 12th. Murphy Oil’s dividend payout ratio (DPR) is presently 30.49%.

Insider Activity at Murphy Oil

In other Murphy Oil news, CFO Thomas J. Mireles sold 5,540 shares of the firm’s stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $36.30, for a total value of $201,102.00. Following the completion of the sale, the chief financial officer now owns 51,758 shares in the company, valued at approximately $1,878,815.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Murphy Oil news, Director T Jay Collins sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, September 13th. The shares were sold at an average price of $40.32, for a total value of $201,600.00. Following the completion of the sale, the director now owns 10,137 shares in the company, valued at approximately $408,723.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Thomas J. Mireles sold 5,540 shares of Murphy Oil stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $36.30, for a total transaction of $201,102.00. Following the sale, the chief financial officer now owns 51,758 shares of the company’s stock, valued at approximately $1,878,815.40. The disclosure for this sale can be found here. 6.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Murphy Oil

Institutional investors have recently modified their holdings of the business. Lazard Asset Management LLC acquired a new stake in shares of Murphy Oil during the 2nd quarter worth approximately $25,000. Quent Capital LLC grew its holdings in Murphy Oil by 36.8% during the first quarter. Quent Capital LLC now owns 1,127 shares of the oil and gas producer’s stock valued at $46,000 after purchasing an additional 303 shares during the period. Rockefeller Capital Management L.P. grew its holdings in Murphy Oil by 857.8% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,657 shares of the oil and gas producer’s stock valued at $43,000 after purchasing an additional 1,484 shares during the period. Meeder Asset Management Inc. acquired a new position in Murphy Oil during the first quarter valued at approximately $77,000. Finally, CoreCap Advisors LLC acquired a new position in Murphy Oil during the second quarter valued at approximately $64,000. Institutional investors and hedge funds own 77.38% of the company’s stock.

About Murphy Oil

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Murphy Oil Corporation, together with its subsidiaries, operates as an oil and natural 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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