Murphy Oil Co. (NYSE:MUR) to Issue $0.30 Quarterly Dividend

Murphy Oil Co. (NYSE:MURGet Free Report) declared a quarterly dividend on Wednesday, April 3rd, RTT News reports. Shareholders of record on Monday, May 20th will be given a dividend of 0.30 per share by the oil and gas producer on Monday, June 3rd. This represents a $1.20 dividend on an annualized basis and a yield of 2.53%.

Murphy Oil has raised its dividend payment by an average of 20.7% annually over the last three years and has increased its dividend every year for the last 3 years. Murphy Oil has a payout ratio of 21.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Murphy Oil to earn $6.13 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 19.6%.

Murphy Oil Trading Up 1.2 %

NYSE:MUR traded up $0.57 on Wednesday, reaching $47.51. The stock had a trading volume of 128,023 shares, compared to its average volume of 1,924,878. The company has a market cap of $7.25 billion, a price-to-earnings ratio of 11.12 and a beta of 2.21. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.89 and a quick ratio of 0.82. The firm’s fifty day moving average is $40.87 and its two-hundred day moving average is $42.37. Murphy Oil has a 12-month low of $32.80 and a 12-month high of $48.47.

Murphy Oil (NYSE:MURGet Free Report) last released its earnings results on Thursday, January 25th. The oil and gas producer reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.10). The firm had revenue of $844.20 million during the quarter, compared to analysts’ expectations of $852.24 million. Murphy Oil had a net margin of 19.12% and a return on equity of 13.02%. Murphy Oil’s revenue for the quarter was down 13.4% on a year-over-year basis. During the same quarter last year, the company posted $1.10 earnings per share. Equities analysts expect that Murphy Oil will post 4.33 EPS for the current fiscal year.

Insider Buying and Selling

In related news, VP Maria A. Martinez sold 10,000 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $43.35, for a total transaction of $433,500.00. Following the completion of the sale, the vice president now owns 40,590 shares of the company’s stock, valued at approximately $1,759,576.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Murphy Oil news, VP Paul D. Vaughan sold 6,000 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were 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 of the company’s stock, valued at $470,447.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Maria A. Martinez sold 10,000 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $43.35, for a total transaction of $433,500.00. Following the completion of the sale, the vice president now directly owns 40,590 shares of the company’s stock, valued at approximately $1,759,576.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 156,260 shares of company stock valued at $6,322,644. 5.95% of the stock is currently owned by corporate insiders.

Institutional Trading of Murphy Oil

Several large investors have recently bought and sold shares of the company. BlackRock Inc. grew its position in Murphy Oil by 4.4% in the first quarter. BlackRock Inc. now owns 17,444,116 shares of the oil and gas producer’s stock valued at $704,568,000 after acquiring an additional 729,319 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Murphy Oil by 1.8% during the 3rd quarter. Vanguard Group Inc. now owns 15,784,002 shares of the oil and gas producer’s stock valued at $555,123,000 after buying an additional 285,258 shares during the last quarter. State Street Corp boosted its stake in shares of Murphy Oil by 4.9% during the 1st quarter. State Street Corp now owns 7,815,843 shares of the oil and gas producer’s stock valued at $315,682,000 after buying an additional 365,686 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Murphy Oil by 3.7% during the 1st quarter. Geode Capital Management LLC now owns 2,806,617 shares of the oil and gas producer’s stock valued at $103,789,000 after buying an additional 98,855 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in shares of Murphy Oil by 26.4% during the 1st quarter. Bank of America Corp DE now owns 2,722,505 shares of the oil and gas producer’s stock valued at $100,678,000 after buying an additional 569,458 shares during the last quarter. Institutional investors and hedge funds own 78.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on MUR. Mizuho restated a “buy” rating and issued a $53.00 target price (up from $50.00) on shares of Murphy Oil in a report on Thursday, March 21st. Roth Mkm reaffirmed a “buy” rating on shares of Murphy Oil in a research note on Wednesday, March 20th. UBS Group dropped their price objective on shares of Murphy Oil from $45.00 to $43.00 and set a “neutral” rating for the company in a research note on Monday, January 29th. KeyCorp dropped their price objective on shares of Murphy Oil from $53.00 to $50.00 and set an “overweight” rating for the company in a research note on Thursday, January 11th. Finally, Piper Sandler dropped their price objective on shares of Murphy Oil from $50.00 to $49.00 and set an “overweight” rating for the company in a research note on Tuesday, January 30th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Murphy Oil has a consensus rating of “Moderate Buy” and an average target price of $46.90.

Read Our Latest Report on Murphy Oil

Murphy Oil Company Profile

(Get Free Report)

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.

Further Reading

Dividend History for Murphy Oil (NYSE:MUR)

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.