Murphy Oil (NYSE:MUR) Shares Gap Down to $20.42

Murphy Oil Co. (NYSE:MUR)’s share price gapped down before the market opened on Friday . The stock had previously closed at $20.05, but opened at $20.42. Murphy Oil shares last traded at $20.81, with a volume of 1,022,811 shares traded.

A number of equities research analysts have issued reports on the company. Goldman Sachs Group raised Murphy Oil from a “neutral” rating to a “buy” rating and set a $30.00 target price for the company in a research report on Tuesday, July 23rd. Morgan Stanley decreased their target price on Murphy Oil from $24.00 to $22.00 and set an “underweight” rating for the company in a research report on Friday, July 12th. Credit Suisse Group decreased their target price on Murphy Oil from $30.00 to $25.00 and set a “neutral” rating for the company in a research report on Friday, August 9th. Wells Fargo & Co reduced their price objective on Murphy Oil from $28.00 to $23.00 and set a “market perform” rating for the company in a research report on Friday, September 6th. Finally, MKM Partners set a $38.00 price objective on Murphy Oil and gave the company a “buy” rating in a research report on Monday, August 12th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $31.71.

The company has a quick ratio of 1.21, a current ratio of 1.25 and a debt-to-equity ratio of 0.91. The company has a market capitalization of $3.38 billion, a P/E ratio of 16.35 and a beta of 2.02. The firm has a 50-day moving average price of $20.11 and a two-hundred day moving average price of $25.04.

Murphy Oil (NYSE:MUR) last posted its quarterly earnings data on Thursday, August 8th. The oil and gas producer reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.03. Murphy Oil had a return on equity of 3.48% and a net margin of 12.37%. The company had revenue of $709.00 million during the quarter, compared to analysts’ expectations of $612.71 million. During the same period in the prior year, the business earned $0.36 earnings per share. Murphy Oil’s revenue for the quarter was up 81.8% compared to the same quarter last year. On average, analysts predict that Murphy Oil Co. will post 0.88 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 19th were given a $0.25 dividend. The ex-dividend date was Friday, August 16th. This represents a $1.00 annualized dividend and a dividend yield of 4.85%. Murphy Oil’s dividend payout ratio is 79.37%.

In related news, Director Walentin Mirosh sold 1,360 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $18.52, for a total value of $25,187.20. Following the completion of the transaction, the director now directly owns 25,365 shares in the company, valued at $469,759.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 6.46% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Municipal Employees Retirement System of Michigan raised its stake in shares of Murphy Oil by 1.4% in the second quarter. Municipal Employees Retirement System of Michigan now owns 30,080 shares of the oil and gas producer’s stock valued at $741,000 after purchasing an additional 420 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Murphy Oil by 0.9% in the first quarter. PNC Financial Services Group Inc. now owns 54,738 shares of the oil and gas producer’s stock valued at $1,603,000 after purchasing an additional 501 shares in the last quarter. Oppenheimer Asset Management Inc. raised its stake in shares of Murphy Oil by 10.8% in the second quarter. Oppenheimer Asset Management Inc. now owns 5,768 shares of the oil and gas producer’s stock valued at $142,000 after purchasing an additional 560 shares in the last quarter. First Hawaiian Bank raised its stake in shares of Murphy Oil by 3.8% in the second quarter. First Hawaiian Bank now owns 16,062 shares of the oil and gas producer’s stock valued at $396,000 after purchasing an additional 583 shares in the last quarter. Finally, United Asset Strategies Inc. raised its stake in Murphy Oil by 3.8% during the second quarter. United Asset Strategies Inc. now owns 18,599 shares of the oil and gas producer’s stock worth $458,000 after acquiring an additional 675 shares in the last quarter. Institutional investors and hedge funds own 90.23% of the company’s stock.

Murphy Oil Company Profile (NYSE:MUR)

Murphy Oil Corporation operates as an oil and gas exploration and production company in the United States, Canada, Malaysia, 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.

Read More: How to calculate compound interest

Receive News & Ratings for Murphy Oil Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Murphy Oil and related companies with MarketBeat.com's FREE daily email newsletter.