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

Murphy Oil Co. (NYSE:MUR) announced a quarterly dividend on Wednesday, October 2nd,Zacks Dividends reports. Stockholders 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 dividend on an annualized basis and a dividend 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% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Murphy Oil to earn $4.27 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 28.1%.

Murphy Oil Stock Performance

NYSE:MUR opened at $32.50 on Friday. The stock’s 50-day simple moving average is $33.74 and its 200 day simple moving average is $37.99. Murphy Oil has a twelve month low of $30.99 and a twelve month high of $49.14. 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 firm has a market capitalization of $4.74 billion, a PE ratio of 10.48 and a beta of 2.21.

Murphy Oil (NYSE:MUR) last announced its quarterly earnings results on Thursday, November 7th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.02). Murphy Oil had a return on equity of 9.22% and a net margin of 14.78%. The company had revenue of $758.33 million for the quarter, compared to analyst estimates of $759.74 million. During the same quarter last year, the company posted $1.59 earnings per share. The firm’s quarterly revenue was down 21.0% on a year-over-year basis. On average, analysts anticipate that Murphy Oil will post 3.33 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on MUR. UBS Group dropped their price objective on shares of Murphy Oil from $45.00 to $39.00 and set a “neutral” rating for the company in a report on Wednesday, September 18th. Mizuho reduced their price objective on shares of Murphy Oil from $59.00 to $50.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. Barclays lowered their target price on Murphy Oil from $38.00 to $37.00 and set an “equal weight” rating for the company in a research report on Monday, November 11th. BMO Capital Markets lowered their price objective on Murphy Oil from $42.00 to $40.00 and set a “market perform” rating for the company in a research report on Friday, October 4th. Finally, Scotiabank decreased their price objective on shares of Murphy Oil from $47.00 to $36.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. Ten investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $41.08.

About Murphy Oil

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.