Murphy Oil Corp. (MUR) Downgraded to “Hold” at Zacks Investment Research
According to Zacks, “Murphy Oil’s systematic investments in exploration and production activities will act as a tailwind. Steady production from its assets is enabling the company to maintain its 2016 production levels despite a substantial reduction in capital expenditure for the year. The company’s entry into the Eagle Ford shale has been successful. Moreover, it is good to see that efficient cost management and systematic asset divestment have allowed the company to lower its expenses. Stringent regulations and a highly competitive industry are headwinds for the company. Operational risks and foreign currency translation issues also pose headwinds.”
Several other equities research analysts have also recently issued reports on the stock. Credit Agricole SA restated a sell rating on shares of Murphy Oil Corp. in a report on Tuesday, August 16th. Barclays PLC restated an overweight rating and issued a $42.00 target price on shares of Murphy Oil Corp. in a report on Tuesday, August 2nd. Raymond James Financial Inc. upgraded shares of Murphy Oil Corp. from an underperform rating to a market perform rating in a report on Monday, June 20th. Finally, JPMorgan Chase & Co. restated a hold rating on shares of Murphy Oil Corp. in a report on Thursday, June 30th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the company. The company currently has an average rating of Hold and an average target price of $26.80.
Murphy Oil Corp. (NYSE:MUR) traded up 3.19% on Tuesday, hitting $29.10. 546,444 shares of the stock traded hands. The company’s 50 day moving average price is $27.97 and its 200-day moving average price is $29.42. Murphy Oil Corp. has a 52-week low of $14.30 and a 52-week high of $37.48. The stock’s market cap is $5.01 billion.
Murphy Oil Corp. (NYSE:MUR) last posted its quarterly earnings results on Wednesday, July 27th. The company reported ($0.36) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.39) by $0.03. Murphy Oil Corp. had a negative net margin of 106.14% and a negative return on equity of 7.93%. During the same quarter in the previous year, the business earned ($0.48) EPS. On average, analysts forecast that Murphy Oil Corp. will post ($1.32) earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Monday, November 14th will be paid a dividend of $0.25 per share. The ex-dividend date is Wednesday, November 9th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.55%. Murphy Oil Corp.’s dividend payout ratio is presently -7.24%.
In other news, Director Robert Madison Murphy purchased 36,803 shares of the company’s stock in a transaction that occurred on Tuesday, August 9th. The stock was purchased at an average cost of $24.16 per share, with a total value of $889,160.48. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 6.39% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Charter Trust Co. boosted its stake in Murphy Oil Corp. by 5.2% in the third quarter. Charter Trust Co. now owns 20,799 shares of the company’s stock valued at $632,000 after buying an additional 1,032 shares during the period. Cornerstone Investment Partners LLC boosted its stake in Murphy Oil Corp. by 41.4% in the third quarter. Cornerstone Investment Partners LLC now owns 28,633 shares of the company’s stock valued at $870,000 after buying an additional 8,384 shares during the period. Adams Asset Advisors LLC boosted its stake in Murphy Oil Corp. by 5.5% in the third quarter. Adams Asset Advisors LLC now owns 352,687 shares of the company’s stock valued at $10,721,000 after buying an additional 18,531 shares during the period. Highland Capital Management LLC boosted its stake in Murphy Oil Corp. by 0.6% in the third quarter. Highland Capital Management LLC now owns 71,627 shares of the company’s stock valued at $2,177,000 after buying an additional 455 shares during the period. Finally, Capstone Asset Management Co. boosted its stake in Murphy Oil Corp. by 0.9% in the third quarter. Capstone Asset Management Co. now owns 10,049 shares of the company’s stock valued at $305,000 after buying an additional 90 shares during the period. 92.58% of the stock is owned by institutional investors.
Murphy Oil Corp. Company Profile
Murphy Oil Corporation is an oil and gas exploration and production company. The Company’s exploration and production business explores for and produces crude oil, natural gas and natural gas liquids across the world. The Company’s exploration and production activities are subdivided into four geographic segments, including the United States, Canada, Malaysia and all other countries.
Receive News & Stock Ratings for Murphy Oil Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Murphy Oil Corp. and related stocks with our FREE daily email newsletter.