Murphy Oil (NYSE:MUR) Trading 3.3% Higher – Still a Buy?

Murphy Oil Co. (NYSE:MUR) shot up 3.3% during trading on Wednesday . The company traded as high as $28.65 and last traded at $28.65. 212,721 shares were traded during trading, a decline of 93% from the average session volume of 2,938,729 shares. The stock had previously closed at $27.74.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on MUR shares. Barclays lowered their price target on shares of Murphy Oil from $34.00 to $32.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 18th. Morgan Stanley dropped their target price on Murphy Oil from $37.00 to $32.00 and set an “underweight” rating on the stock in a research report on Thursday. Piper Sandler cut their price target on Murphy Oil from $35.00 to $34.00 and set an “overweight” rating on the stock in a report on Thursday, March 6th. UBS Group decreased their price objective on Murphy Oil from $34.00 to $32.00 and set a “neutral” rating for the company in a research note on Monday, February 3rd. Finally, Wells Fargo & Company reiterated an “equal weight” rating on shares of Murphy Oil in a research note on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $34.92.

Murphy Oil Trading Up 0.5 %

The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.77 and a current ratio of 0.83. The company has a market cap of $4.16 billion, a price-to-earnings ratio of 10.59 and a beta of 2.18. The company’s fifty day moving average is $27.44 and its two-hundred day moving average is $30.77.

Murphy Oil (NYSE:MUR) last released its quarterly earnings data on Thursday, January 30th. The oil and gas producer reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.27). Murphy Oil had a return on equity of 7.66% and a net margin of 13.44%. During the same quarter last year, the business posted $0.90 earnings per share. On average, research analysts anticipate that Murphy Oil Co. will post 2.94 EPS for the current year.

Murphy Oil Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 18th were paid a dividend of $0.325 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 4.56%. This is a positive change from Murphy Oil’s previous quarterly dividend of $0.30. Murphy Oil’s dividend payout ratio (DPR) is presently 48.33%.

Insider Transactions at Murphy Oil

In other news, Director Claiborne P. Deming acquired 50,000 shares of the business’s stock in a transaction on Tuesday, February 4th. The stock was bought at an average price of $26.47 per share, with a total value of $1,323,500.00. Following the completion of the acquisition, the director now owns 931,651 shares of the company’s stock, valued at approximately $24,660,801.97. This represents a 5.67 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Meenambigai Palanivelu acquired 1,573 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was purchased at an average price of $26.70 per share, with a total value of $41,999.10. Following the transaction, the vice president now owns 37,065 shares of the company’s stock, valued at approximately $989,635.50. This trade represents a 4.43 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 5.92% of the company’s stock.

Hedge Funds Weigh In On Murphy Oil

Several institutional investors and hedge funds have recently modified their holdings of the business. Huntington National Bank increased its stake in shares of Murphy Oil by 342.8% during the fourth quarter. Huntington National Bank now owns 828 shares of the oil and gas producer’s stock worth $25,000 after purchasing an additional 641 shares in the last quarter. GeoWealth Management LLC acquired a new position in shares of Murphy Oil during the fourth quarter valued at approximately $39,000. Lindbrook Capital LLC lifted its position in shares of Murphy Oil by 60.5% in the fourth quarter. Lindbrook Capital LLC now owns 1,441 shares of the oil and gas producer’s stock valued at $44,000 after acquiring an additional 543 shares in the last quarter. Headlands Technologies LLC increased its position in shares of Murphy Oil by 32.9% during the fourth quarter. Headlands Technologies LLC now owns 1,903 shares of the oil and gas producer’s stock worth $58,000 after purchasing an additional 471 shares in the last quarter. Finally, Jones Financial Companies Lllp boosted its stake in Murphy Oil by 32.9% during the 4th quarter. Jones Financial Companies Lllp now owns 2,284 shares of the oil and gas producer’s stock worth $69,000 after purchasing an additional 565 shares during the last quarter. Hedge funds and other institutional investors own 78.31% of the company’s stock.

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.