Murphy Oil (NYSE:MUR) Hits New 52-Week High at $43.94

Murphy Oil Co. (NYSE:MURGet Rating) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $43.94 and last traded at $43.74, with a volume of 11192 shares trading hands. The stock had previously closed at $42.44.

Several research firms have issued reports on MUR. Piper Sandler upgraded shares of Murphy Oil from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $38.00 to $54.00 in a research note on Thursday, April 7th. Truist Financial upped their price objective on shares of Murphy Oil from $40.00 to $43.00 in a research note on Friday, January 14th. StockNews.com initiated coverage on shares of Murphy Oil in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Mizuho upped their target price on shares of Murphy Oil from $42.00 to $58.00 and gave the company a “buy” rating in a report on Thursday, March 31st. Finally, Wells Fargo & Company increased their price target on shares of Murphy Oil from $30.00 to $38.00 and gave the stock an “equal weight” rating in a report on Friday, March 11th. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Murphy Oil currently has an average rating of “Buy” and a consensus price target of $43.88.

The firm’s 50-day moving average price is $37.42 and its 200 day moving average price is $31.66. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.76 and a quick ratio of 0.71.

Murphy Oil (NYSE:MURGet Rating) last announced its earnings results on Thursday, January 27th. The oil and gas producer reported $0.40 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.45 by ($0.05). Murphy Oil had a positive return on equity of 4.82% and a negative net margin of 3.20%. The firm had revenue of $739.00 million for the quarter, compared to analyst estimates of $614.61 million. During the same quarter last year, the business posted ($0.09) EPS. The firm’s revenue was up 123.8% compared to the same quarter last year. Sell-side analysts predict that Murphy Oil Co. will post 3.91 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 1st. Shareholders of record on Monday, May 16th will be paid a dividend of $0.175 per share. The ex-dividend date of this dividend is Friday, May 13th. This represents a $0.70 dividend on an annualized basis and a yield of 1.61%. This is an increase from Murphy Oil’s previous quarterly dividend of $0.15. Murphy Oil’s dividend payout ratio (DPR) is currently -120.00%.

In related news, VP Kelly L. Whitley sold 2,745 shares of Murphy Oil stock in a transaction on Thursday, February 10th. The shares were sold at an average price of $33.05, for a total transaction of $90,722.25. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Eric M. Hambly sold 2,305 shares of Murphy Oil stock in a transaction on Tuesday, March 22nd. The stock was sold at an average price of $40.86, for a total transaction of $94,182.30. The disclosure for this sale can be found here. In the last three months, insiders sold 76,935 shares of company stock worth $2,610,517. Insiders own 6.20% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. Advisor Partners LLC grew its holdings in Murphy Oil by 1.5% during the 4th quarter. Advisor Partners LLC now owns 21,697 shares of the oil and gas producer’s stock worth $567,000 after acquiring an additional 322 shares in the last quarter. Eaton Vance Management grew its holdings in Murphy Oil by 0.4% during the 4th quarter. Eaton Vance Management now owns 84,731 shares of the oil and gas producer’s stock worth $1,700,000 after acquiring an additional 322 shares in the last quarter. Thrivent Financial for Lutherans grew its holdings in Murphy Oil by 0.9% during the 4th quarter. Thrivent Financial for Lutherans now owns 38,283 shares of the oil and gas producer’s stock worth $1,000,000 after acquiring an additional 338 shares in the last quarter. State of Michigan Retirement System grew its holdings in Murphy Oil by 1.1% during the 4th quarter. State of Michigan Retirement System now owns 36,795 shares of the oil and gas producer’s stock worth $961,000 after acquiring an additional 400 shares in the last quarter. Finally, Quadrant Capital Group LLC grew its holdings in Murphy Oil by 23.3% during the 4th quarter. Quadrant Capital Group LLC now owns 2,278 shares of the oil and gas producer’s stock worth $59,000 after acquiring an additional 430 shares in the last quarter. 77.54% of the stock is owned by institutional investors.

About Murphy Oil (NYSE:MUR)

Murphy Oil Corporation, together with its subsidiaries, operates as an oil and natural 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.

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