Murphy Oil (NYSE:MUR) Shares Break Below 200-Day Moving Average – Time to Sell?

Murphy Oil Corporation (NYSE:MUR) shares passed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $36.86 and traded as low as $35.38. Murphy Oil shares last traded at $35.9580, with a volume of 2,395,649 shares traded.

Wall Street Analysts Forecast Growth

A number of research firms have commented on MUR. Morgan Stanley raised their target price on shares of Murphy Oil from $36.00 to $37.00 and gave the stock an “underweight” rating in a research note on Thursday, October 15th. Mizuho upped their price target on shares of Murphy Oil from $41.00 to $44.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 14th. Scotiabank initiated coverage on shares of Murphy Oil in a research note on Wednesday, October 14th. They issued a “sector perform” rating and a $41.00 price objective for the company. Zacks Research upgraded shares of Murphy Oil from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 28th. Finally, UBS Group lifted their target price on shares of Murphy Oil from $38.00 to $40.00 and gave the company a “neutral” rating in a research note on Wednesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Murphy Oil currently has an average rating of “Hold” and a consensus target price of $39.75.

Murphy Oil Stock Down 0.8%

The company has a market cap of $5.16 billion, a PE ratio of 11.22 and a beta of 0.52. The company’s 50 day moving average is $38.86 and its 200 day moving average is $36.90. The company has a current ratio of 0.85, a quick ratio of 0.80 and a debt-to-equity ratio of 0.29.

Murphy Oil (NYSE:MUR) last issued its quarterly earnings data on Wednesday, November 4th. The oil and gas producer reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.17. The firm had revenue of $849.17 million during the quarter, compared to analysts’ expectations of $781.53 million. Murphy Oil had a return on equity of 6.63% and a net margin of 9.74%. The firm’s quarterly revenue was up 16.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.41 EPS. As a group, analysts predict that Murphy Oil Corporation will post 3.68 earnings per share for the current fiscal year.

Murphy Oil Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Monday, November 16th will be paid a dividend of $0.35 per share. The ex-dividend date is Monday, November 16th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.9%. Murphy Oil’s dividend payout ratio (DPR) is presently 43.61%.

Institutional Investors Weigh In On Murphy Oil

A number of institutional investors have recently added to or reduced their stakes in MUR. Leonteq Securities AG acquired a new position in shares of Murphy Oil in the first quarter valued at $29,000. Valued Wealth Advisors LLC boosted its stake in Murphy Oil by 14,700.0% during the first quarter. Valued Wealth Advisors LLC now owns 740 shares of the oil and gas producer’s stock worth $31,000 after buying an additional 735 shares in the last quarter. Heritage Family Offices LLP bought a new stake in Murphy Oil in the 3rd quarter valued at $33,000. Covestor Ltd increased its holdings in Murphy Oil by 55.5% in the 3rd quarter. Covestor Ltd now owns 1,096 shares of the oil and gas producer’s stock valued at $41,000 after buying an additional 391 shares during the period. Finally, Root Financial Partners LLC acquired a new position in shares of Murphy Oil in the 3rd quarter valued at $44,000. Institutional investors and hedge funds own 78.31% of the company’s stock.

Murphy Oil Company Profile

Murphy Oil Corporation (NYSE:MUR) is an independent oil and natural gas exploration and production company. Its activities include identifying, acquiring, developing and producing crude oil, natural gas and natural gas liquids, with a focus on high-quality assets in North America.

The company’s operations are primarily located in the United States, including onshore assets in the Eagle Ford Shale of South Texas and offshore properties in the Gulf of Mexico. Murphy Oil has also historically maintained exploration and production interests in Canada and other international regions, although its current portfolio is concentrated in the United States.

Founded in 1950, Murphy Oil has evolved from a diversified energy company into a focused exploration and production business.