Murphy Oil (NYSE:MUR) Shares Gap Down to $38.75

Murphy Oil Co. (NYSE:MURGet Rating)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $38.75, but opened at $37.25. Murphy Oil shares last traded at $37.34, with a volume of 2,871 shares trading hands.

Analyst Ratings Changes

Several brokerages have issued reports on MUR. The Goldman Sachs Group lifted their target price on shares of Murphy Oil from $34.00 to $38.00 and gave the company a “neutral” rating in a research report on Monday, August 22nd. Piper Sandler decreased their price target on shares of Murphy Oil from $49.00 to $47.00 and set an “overweight” rating on the stock in a research note on Friday, July 22nd. Morgan Stanley decreased their price target on shares of Murphy Oil from $53.00 to $49.00 and set an “equal weight” rating on the stock in a research note on Monday, June 6th. StockNews.com downgraded shares of Murphy Oil from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, MKM Partners reissued a “buy” rating and set a $38.00 price target on shares of Murphy Oil in a research note on Wednesday, July 20th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $46.50.

Murphy Oil Trading Up 1.2 %

The company has a debt-to-equity ratio of 0.51, a current ratio of 0.66 and a quick ratio of 0.62. The firm’s 50 day moving average is $33.69 and its 200 day moving average is $36.68. The company has a market capitalization of $5.96 billion, a PE ratio of 11.69 and a beta of 2.48.

Murphy Oil (NYSE:MURGet Rating) last issued its earnings results on Thursday, August 4th. The oil and gas producer reported $1.93 EPS for the quarter, topping the consensus estimate of $1.56 by $0.37. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $880.87 million. Murphy Oil had a net margin of 17.00% and a return on equity of 12.07%. The firm’s revenue for the quarter was up 100.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.59 earnings per share. As a group, equities analysts predict that Murphy Oil Co. will post 6.14 EPS for the current year.

Murphy Oil Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Monday, August 15th were issued a $0.25 dividend. The ex-dividend date was Friday, August 12th. This represents a $1.00 annualized dividend and a yield of 2.61%. This is a boost from Murphy Oil’s previous quarterly dividend of $0.18. Murphy Oil’s payout ratio is 30.49%.

Insider Activity at Murphy Oil

In related news, CFO Thomas J. Mireles sold 5,540 shares of Murphy Oil stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $36.30, for a total value of $201,102.00. Following the sale, the chief financial officer now owns 51,758 shares in the company, valued at $1,878,815.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 6.20% of the stock is currently owned by company insiders.

Institutional Trading of Murphy Oil

Large investors have recently added to or reduced their stakes in the stock. Prudential Financial Inc. boosted its holdings in shares of Murphy Oil by 293.0% during the 2nd quarter. Prudential Financial Inc. now owns 1,404,552 shares of the oil and gas producer’s stock valued at $42,409,000 after buying an additional 1,047,146 shares in the last quarter. Encompass Capital Advisors LLC bought a new stake in shares of Murphy Oil during the 2nd quarter valued at $31,190,000. Point72 Asset Management L.P. bought a new stake in shares of Murphy Oil during the 2nd quarter valued at $23,246,000. BlackRock Inc. boosted its holdings in shares of Murphy Oil by 4.4% during the 1st quarter. BlackRock Inc. now owns 17,444,116 shares of the oil and gas producer’s stock valued at $704,568,000 after buying an additional 729,319 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Murphy Oil by 153.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,196,944 shares of the oil and gas producer’s stock valued at $36,137,000 after buying an additional 724,779 shares in the last quarter. Institutional investors own 77.38% of the company’s stock.

About Murphy Oil

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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.

Further Reading

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