Cowen and Company reaffirmed their hold rating on shares of Murphy Oil Corporation (NYSE:MUR) in a report issued on Sunday morning. They currently have a $30.00 price target on the oil and gas producer’s stock.
Other equities analysts have also recently issued reports about the company. KLR Group initiated coverage on Murphy Oil Corporation in a report on Wednesday, May 24th. They issued a buy rating and a $41.00 price objective for the company. Barclays PLC cut Murphy Oil Corporation from an overweight rating to an equal weight rating and dropped their price objective for the company from $38.00 to $29.00 in a report on Tuesday, July 11th. ValuEngine raised Murphy Oil Corporation from a sell rating to a hold rating in a report on Friday, July 28th. Scotiabank set a $26.00 price objective on Murphy Oil Corporation and gave the company a hold rating in a report on Saturday, July 1st. Finally, Zacks Investment Research raised Murphy Oil Corporation from a sell rating to a hold rating in a report on Tuesday, June 13th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $30.82.
Murphy Oil Corporation (MUR) opened at 26.09 on Friday. The stock’s 50 day moving average price is $24.52 and its 200-day moving average price is $25.74. The firm’s market capitalization is $4.50 billion. Murphy Oil Corporation has a one year low of $22.21 and a one year high of $35.19.
Murphy Oil Corporation (NYSE:MUR) last announced its quarterly earnings data on Wednesday, August 2nd. The oil and gas producer reported ($0.11) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.15) by $0.04. The firm had revenue of $474.50 million during the quarter, compared to analysts’ expectations of $495.03 million. Murphy Oil Corporation had a negative return on equity of 1.76% and a negative net margin of 1.83%. During the same period in the previous year, the firm earned ($0.36) EPS. On average, equities research analysts expect that Murphy Oil Corporation will post ($0.28) EPS for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Monday, August 14th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, August 10th. This represents a $1.00 dividend on an annualized basis and a yield of 3.83%. Murphy Oil Corporation’s dividend payout ratio is currently -454.55%.
In other news, insider Kelli M. Hammock sold 4,000 shares of the business’s stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $25.63, for a total value of $102,520.00. Following the transaction, the insider now directly owns 14,298 shares of the company’s stock, valued at approximately $366,457.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Allan J. Misner sold 3,795 shares of the business’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $26.05, for a total value of $98,859.75. Following the completion of the transaction, the vice president now directly owns 100 shares in the company, valued at $2,605. The disclosure for this sale can be found here. Insiders own 6.89% of the company’s stock.
Several large investors have recently made changes to their positions in MUR. BlackRock Inc. lifted its stake in shares of Murphy Oil Corporation by 3,301.1% in the 1st quarter. BlackRock Inc. now owns 11,897,582 shares of the oil and gas producer’s stock valued at $340,153,000 after purchasing an additional 11,547,767 shares during the period. Hotchkis & Wiley Capital Management LLC lifted its stake in shares of Murphy Oil Corporation by 28.8% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 14,135,770 shares of the oil and gas producer’s stock valued at $404,142,000 after purchasing an additional 3,162,750 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Murphy Oil Corporation by 76.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,895,083 shares of the oil and gas producer’s stock valued at $139,944,000 after purchasing an additional 2,126,206 shares during the period. AQR Capital Management LLC lifted its stake in shares of Murphy Oil Corporation by 194.4% in the 1st quarter. AQR Capital Management LLC now owns 1,343,561 shares of the oil and gas producer’s stock valued at $38,412,000 after purchasing an additional 887,174 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of Murphy Oil Corporation by 43.4% in the 1st quarter. Bank of New York Mellon Corp now owns 2,741,204 shares of the oil and gas producer’s stock valued at $78,370,000 after purchasing an additional 830,151 shares during the period. 97.64% of the stock is currently owned by institutional investors.
About Murphy Oil Corporation
Murphy Oil Corporation (Murphy) 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. Its exploration and production activities are subdivided into four geographic segments: the United States, Canada, Malaysia and all other countries.
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