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

Murphy Oil Co. (NYSE:MUR) declared a quarterly dividend on Wednesday, October 2nd,Zacks Dividends reports. Investors of record on Monday, November 18th will be paid a dividend of 0.30 per share by the oil and gas producer on Monday, December 2nd. This represents a $1.20 annualized dividend and a yield of 3.69%. The ex-dividend date is Monday, November 18th.

Murphy Oil has increased its dividend payment by an average of 20.7% per year over the last three years. Murphy Oil has a dividend payout ratio of 32.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Murphy Oil to earn $4.16 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 28.8%.

Murphy Oil Trading Down 2.5 %

NYSE MUR opened at $32.50 on Friday. The company has a quick ratio of 0.65, a current ratio of 0.71 and a debt-to-equity ratio of 0.24. The stock’s 50-day simple moving average is $33.74 and its two-hundred day simple moving average is $37.94. Murphy Oil has a twelve month low of $30.99 and a twelve month high of $49.14. The company has a market capitalization of $4.74 billion, a price-to-earnings ratio of 10.48 and a beta of 2.21.

Murphy Oil (NYSE:MUR) last released its earnings results on Thursday, November 7th. The oil and gas producer reported $0.74 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.02). The firm had revenue of $758.33 million during the quarter, compared to the consensus estimate of $759.74 million. Murphy Oil had a return on equity of 9.22% and a net margin of 14.78%. The business’s quarterly revenue was down 21.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.59 EPS. Research analysts forecast that Murphy Oil will post 3.3 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

MUR has been the topic of a number of analyst reports. JPMorgan Chase & Co. decreased their target price on shares of Murphy Oil from $47.00 to $39.00 and set a “neutral” rating on the stock in a research report on Thursday, September 12th. Scotiabank decreased their price objective on Murphy Oil from $47.00 to $36.00 and set a “sector perform” rating on the stock in a report on Thursday, October 10th. Wells Fargo & Company dropped their target price on Murphy Oil from $41.00 to $39.00 and set an “equal weight” rating for the company in a report on Friday, September 27th. Piper Sandler decreased their price target on Murphy Oil from $44.00 to $43.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 15th. Finally, The Goldman Sachs Group dropped their price objective on Murphy Oil from $44.00 to $39.00 and set a “neutral” rating for the company in a research note on Monday, October 7th. Ten investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $41.08.

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.