Murphy Oil Co. (NYSE:MUR) Announces Quarterly Dividend of $0.33

Murphy Oil Co. (NYSE:MUR) declared a quarterly dividend on Wednesday, April 2nd, RTT News reports. Investors of record on Friday, May 16th will be paid a dividend of 0.325 per share by the oil and gas producer on Monday, June 2nd. This represents a $1.30 annualized dividend and a yield of 4.45%.

Murphy Oil has raised its dividend payment by an average of 33.9% annually over the last three years. Murphy Oil has a payout ratio of 33.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Murphy Oil to earn $3.70 per share next year, which means the company should continue to be able to cover its $1.30 annual dividend with an expected future payout ratio of 35.1%.

Murphy Oil Stock Up 1.7 %

Shares of MUR opened at $29.24 on Thursday. Murphy Oil has a 12 month low of $22.90 and a 12 month high of $49.14. The stock has a market cap of $4.26 billion, a price-to-earnings ratio of 10.87 and a beta of 2.18. The company has a 50-day moving average price of $27.20 and a two-hundred day moving average price of $30.60. The company has a quick ratio of 0.77, a current ratio of 0.83 and a debt-to-equity ratio of 0.24.

Murphy Oil (NYSE:MUR) last announced its quarterly earnings results on Thursday, January 30th. The oil and gas producer reported $0.35 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.27). Murphy Oil had a net margin of 13.44% and a return on equity of 7.66%. During the same period last year, the business posted $0.90 earnings per share. Equities analysts predict that Murphy Oil will post 2.94 EPS for the current fiscal year.

Insider Buying and Selling at Murphy Oil

In related news, Director Claiborne P. Deming purchased 50,000 shares of Murphy Oil stock in a transaction dated Tuesday, February 4th. The stock was bought at an average price of $26.47 per share, for a total transaction of $1,323,500.00. Following the completion of the acquisition, the director now directly owns 931,651 shares of the company’s stock, valued at $24,660,801.97. This represents a 5.67 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Meenambigai Palanivelu acquired 1,573 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The shares were bought at an average price of $26.70 per share, for a total transaction of $41,999.10. Following the completion of the acquisition, the vice president now owns 37,065 shares of the company’s stock, valued at $989,635.50. This trade represents a 4.43 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 5.92% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Piper Sandler decreased their price target on Murphy Oil from $35.00 to $34.00 and set an “overweight” rating on the stock in a research report on Thursday, March 6th. Morgan Stanley lowered their target price on Murphy Oil from $37.00 to $32.00 and set an “underweight” rating for the company in a research note on Thursday, March 27th. Barclays reduced their price target on shares of Murphy Oil from $34.00 to $32.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 18th. KeyCorp lowered their price objective on shares of Murphy Oil from $50.00 to $37.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Finally, Truist Financial lowered shares of Murphy Oil from a “buy” rating to a “hold” rating and reduced their target price for the stock from $42.00 to $31.00 in a research report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $34.92.

Murphy Oil Company Profile

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.