Murphy Oil (NYSE:MUR) Hits New 52-Week Low – Here’s Why

Murphy Oil Co. (NYSE:MUR)’s stock price reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $25.26 and last traded at $26.47, with a volume of 3525287 shares traded. The stock had previously closed at $25.55.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on MUR shares. Piper Sandler cut their price objective on shares of Murphy Oil from $39.00 to $35.00 and set an “overweight” rating for the company in a research report on Wednesday, January 29th. Scotiabank cut their price target on Murphy Oil from $47.00 to $36.00 and set a “sector perform” rating for the company in a report on Thursday, October 10th. Wells Fargo & Company decreased their price objective on Murphy Oil from $35.00 to $31.00 and set an “equal weight” rating on the stock in a report on Friday, January 31st. UBS Group reduced their target price on Murphy Oil from $34.00 to $32.00 and set a “neutral” rating for the company in a research report on Monday. Finally, Truist Financial lowered shares of Murphy Oil from a “buy” rating to a “hold” rating and lowered their price target for the company from $42.00 to $31.00 in a report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $36.33.

Murphy Oil Stock Up 3.6 %

The firm has a market cap of $3.86 billion, a price-to-earnings ratio of 9.84 and a beta of 2.14. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.77 and a current ratio of 0.83. The business’s 50-day moving average is $30.45 and its 200-day moving average is $33.56.

Murphy Oil (NYSE:MUR) last posted its quarterly earnings data on Thursday, January 30th. The oil and gas producer reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.27). Murphy Oil had a return on equity of 7.66% and a net margin of 13.44%. During the same quarter last year, the business posted $0.90 EPS. On average, equities analysts predict that Murphy Oil Co. will post 3.33 EPS for the current year.

Murphy Oil Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Tuesday, February 18th will be paid a $0.325 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $1.30 dividend on an annualized basis and a yield of 4.91%. This is a positive change from Murphy Oil’s previous quarterly dividend of $0.30. Murphy Oil’s payout ratio is currently 44.61%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Creative Planning raised its stake in shares of Murphy Oil by 15.9% in the second quarter. Creative Planning now owns 36,892 shares of the oil and gas producer’s stock worth $1,521,000 after acquiring an additional 5,068 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in Murphy Oil by 16.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,140 shares of the oil and gas producer’s stock worth $129,000 after purchasing an additional 438 shares during the last quarter. Cetera Investment Advisers lifted its holdings in Murphy Oil by 4.3% during the 2nd quarter. Cetera Investment Advisers now owns 38,804 shares of the oil and gas producer’s stock worth $1,600,000 after buying an additional 1,609 shares in the last quarter. CWM LLC boosted its position in Murphy Oil by 92.1% in the 3rd quarter. CWM LLC now owns 6,266 shares of the oil and gas producer’s stock valued at $211,000 after buying an additional 3,005 shares during the last quarter. Finally, Bruce G. Allen Investments LLC increased its stake in shares of Murphy Oil by 106.5% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 1,470 shares of the oil and gas producer’s stock valued at $50,000 after buying an additional 758 shares during the period. 78.31% of the stock is owned by institutional investors.

About Murphy Oil

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.