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

Murphy Oil Co. (NYSE:MURGet Free Report) declared a quarterly dividend on Wednesday, April 3rd, RTT News reports. Stockholders 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 dividend yield of 2.53%.

Murphy Oil has increased its dividend payment by an average of 20.7% per year over the last three years and has raised its dividend annually for the last 3 consecutive years. Murphy Oil has a dividend payout ratio of 21.0% meaning 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 Price Performance

Shares of Murphy Oil stock traded up $0.57 during trading on Wednesday, reaching $47.51. 128,023 shares of the company’s stock were exchanged, compared to its average volume of 1,924,878. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.82 and a current ratio of 0.89. Murphy Oil has a 1-year low of $32.80 and a 1-year high of $48.47. The company has a market cap of $7.25 billion, a P/E ratio of 11.12 and a beta of 2.21. The firm’s 50-day moving average price is $40.87 and its 200 day moving average price is $42.37.

Murphy Oil (NYSE:MURGet Free Report) last issued its quarterly earnings data on Thursday, January 25th. The oil and gas producer reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.10). The firm had revenue of $844.20 million for the quarter, compared to the consensus estimate of $852.24 million. Murphy Oil had a return on equity of 13.02% and a net margin of 19.12%. The company’s revenue was down 13.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.10 EPS. As a group, research analysts anticipate that Murphy Oil will post 4.33 earnings per share for the current year.

Insider Activity

In other Murphy Oil news, VP Maria A. Martinez sold 10,000 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $43.35, for a total transaction of $433,500.00. Following the completion of the transaction, the vice president now directly owns 40,590 shares of the company’s stock, valued at $1,759,576.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, VP Louis W. Utsch sold 30,260 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $39.94, for a total value of $1,208,584.40. Following the sale, the vice president now owns 9,504 shares in the company, valued at $379,589.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Maria A. Martinez sold 10,000 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $43.35, for a total value of $433,500.00. Following the completion of the sale, the vice president now owns 40,590 shares in the company, valued at approximately $1,759,576.50. The disclosure for this sale can be found here. Insiders sold a total of 156,260 shares of company stock valued at $6,322,644 over the last three months. Corporate insiders own 5.95% of the company’s stock.

Institutional Investors Weigh In On Murphy Oil

A number of large investors have recently added to or reduced their stakes in the company. First Republic Investment Management Inc. bought a new position in shares of Murphy Oil during the first quarter valued at about $232,000. Veritable L.P. grew its stake in shares of Murphy Oil by 23.5% in the first quarter. Veritable L.P. now owns 6,202 shares of the oil and gas producer’s stock worth $229,000 after purchasing an additional 1,179 shares during the last quarter. Ethic Inc. grew its stake in shares of Murphy Oil by 24.4% in the first quarter. Ethic Inc. now owns 5,955 shares of the oil and gas producer’s stock worth $220,000 after purchasing an additional 1,169 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of Murphy Oil in the second quarter worth about $213,000. Finally, Orion Portfolio Solutions LLC grew its stake in shares of Murphy Oil by 7.7% in the fourth quarter. Orion Portfolio Solutions LLC now owns 5,050 shares of the oil and gas producer’s stock worth $208,000 after purchasing an additional 360 shares during the last quarter. Hedge funds and other institutional investors own 78.31% of the company’s stock.

Analyst Ratings Changes

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

Check Out Our Latest Stock Report on MUR

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.

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Dividend History for Murphy Oil (NYSE:MUR)

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