Murphy Oil Co. (NYSE:MUR) declared a quarterly dividend on Wednesday, February 7th, RTT News reports. Investors of record on Tuesday, February 20th will be given a dividend of 0.25 per share by the oil and gas producer on Monday, March 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.51%.
Murphy Oil has decreased its dividend by an average of 9.0% per year over the last three years. Murphy Oil has a payout ratio of -434.8% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Murphy Oil to earn $0.67 per share next year, which means the company may not be able to cover its $1.00 annual dividend with an expected future payout ratio of 149.3%.
Murphy Oil (NYSE MUR) traded down $0.59 during mid-day trading on Wednesday, hitting $28.52. 1,926,113 shares of the company were exchanged, compared to its average volume of 2,529,219. Murphy Oil has a 1 year low of $22.21 and a 1 year high of $35.16. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.60 and a current ratio of 1.64. The stock has a market capitalization of $4,888.99, a price-to-earnings ratio of -16.13 and a beta of 2.25.
Several research firms have commented on MUR. Barclays lifted their price objective on shares of Murphy Oil from $29.00 to $34.00 and gave the stock an “equal weight” rating in a research note on Friday, February 2nd. ValuEngine downgraded Murphy Oil from a “hold” rating to a “sell” rating in a research report on Friday, February 2nd. Morgan Stanley lifted their target price on Murphy Oil from $26.00 to $33.00 and gave the stock an “underweight” rating in a research report on Wednesday, January 24th. Stephens set a $37.00 target price on Murphy Oil and gave the stock a “buy” rating in a research report on Monday, January 22nd. Finally, Cowen set a $34.00 target price on Murphy Oil and gave the stock a “hold” rating in a research report on Thursday, January 18th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company’s stock. Murphy Oil currently has an average rating of “Hold” and an average target price of $31.83.
In related news, insider Eugene T. Coleman sold 33,435 shares of Murphy Oil stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $28.88, for a total value of $965,602.80. Following the completion of the sale, the insider now directly owns 57,246 shares in the company, valued at $1,653,264.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP John B. Gardner sold 3,783 shares of Murphy Oil stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $27.84, for a total value of $105,318.72. The disclosure for this sale can be found here. Insiders own 6.89% of the company’s stock.
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About Murphy Oil
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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