Murphy Oil (NYSE:MUR) Posts Quarterly Earnings Results

Murphy Oil (NYSE:MUR) issued its earnings results on Thursday. The oil and gas producer reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.03, Briefing.com reports. Murphy Oil had a return on equity of 11.75% and a net margin of 16.40%. The business had revenue of $794.80 million during the quarter, compared to analysts’ expectations of $750.94 million. During the same period in the prior year, the business earned $1.24 EPS. The business’s revenue for the quarter was down 5.4% compared to the same quarter last year.

Murphy Oil Stock Performance

Murphy Oil stock traded down $0.07 during trading hours on Friday, hitting $44.15. 1,692,742 shares of the stock traded hands, compared to its average volume of 1,326,200. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.93 and a quick ratio of 0.82. The firm’s 50 day moving average price is $44.47 and its 200-day moving average price is $42.68. The stock has a market capitalization of $6.74 billion, a price-to-earnings ratio of 12.30 and a beta of 2.22. Murphy Oil has a 1 year low of $32.80 and a 1 year high of $49.14.

Murphy Oil Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 20th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, May 17th. This represents a $1.20 annualized dividend and a yield of 2.72%. Murphy Oil’s payout ratio is presently 33.43%.

Insider Buying and Selling at Murphy Oil

In other news, CEO Roger W. Jenkins sold 110,000 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $40.39, for a total value of $4,442,900.00. Following the sale, the chief executive officer now owns 1,035,190 shares in the company, valued at $41,811,324.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Roger W. Jenkins sold 110,000 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $40.39, for a total value of $4,442,900.00. Following the sale, the chief executive officer now owns 1,035,190 shares in the company, valued at $41,811,324.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Paul D. Vaughan sold 6,000 shares of the company’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $39.61, for a total value of $237,660.00. Following the completion of the sale, the vice president now owns 11,877 shares in the company, valued at approximately $470,447.97. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 156,260 shares of company stock worth $6,322,644. 5.92% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

MUR has been the subject of several research reports. JPMorgan Chase & Co. upped their target price on Murphy Oil from $51.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Piper Sandler boosted their price target on Murphy Oil from $49.00 to $55.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. Scotiabank lowered Murphy Oil from a “sector outperform” rating to a “sector perform” rating and boosted their price target for the stock from $46.00 to $50.00 in a research report on Thursday, April 11th. KeyCorp boosted their price target on Murphy Oil from $50.00 to $54.00 and gave the stock an “overweight” rating in a research report on Monday, April 22nd. Finally, Mizuho boosted their price target on Murphy Oil from $53.00 to $55.00 and gave the stock a “buy” rating in a research report on Monday, April 15th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.64.

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.