Murphy Oil Corporation (MUR) to Issue Quarterly Dividend of $0.35 on December 1st

Murphy Oil Corporation (NYSE:MUR) declared a quarterly dividend on Wednesday, October 7th. Investors of record on Monday, November 16th will be paid a dividend of $0.35 per share by the oil and gas producer on Tuesday, December 1st. This represents a $1.40 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Monday, November 16th.

Murphy Oil has increased its dividend by an average of 0.2%annually over the last three years and has raised its dividend annually for the last 5 consecutive years. Murphy Oil has a dividend payout ratio of 52.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Murphy Oil to earn $2.68 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 52.2%.

Murphy Oil Trading Up 3.6%

Murphy Oil stock opened at $38.61 on Friday. The business has a 50 day moving average price of $36.80 and a two-hundred day moving average price of $37.38. The company has a quick ratio of 0.80, a current ratio of 0.85 and a debt-to-equity ratio of 0.29. The stock has a market cap of $5.54 billion, a price-to-earnings ratio of 19.11 and a beta of 0.59. Murphy Oil has a 12 month low of $26.49 and a 12 month high of $43.34.

Murphy Oil (NYSE:MUR) last announced its quarterly earnings data on Wednesday, August 5th. The oil and gas producer reported $1.55 earnings per share for the quarter, missing the consensus estimate of $1.57 by ($0.02). The firm had revenue of $926.33 million for the quarter, compared to analyst estimates of $888.51 million. Murphy Oil had a return on equity of 6.63% and a net margin of 9.74%.Murphy Oil’s revenue for the quarter was up 33.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.27 EPS. As a group, equities analysts forecast that Murphy Oil will post 2.64 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on MUR shares. Mizuho raised Murphy Oil to a “hold” rating in a research report on Friday, July 31st. The Goldman Sachs Group reissued a “neutral” rating and issued a $34.00 price target on shares of Murphy Oil in a report on Monday, September 7th. Wells Fargo & Company reaffirmed a “positive” rating on shares of Murphy Oil in a report on Tuesday, September 29th. Morgan Stanley reiterated an “underweight” rating and set a $36.00 target price on shares of Murphy Oil in a research report on Wednesday, August 19th. Finally, Barclays cut shares of Murphy Oil from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $38.00 to $34.00 in a research note on Friday, August 14th. Four investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $39.27.

About Murphy Oil

Murphy Oil Corporation (NYSE:MUR) is an independent oil and natural gas exploration and production company. Its activities include identifying, acquiring, developing and producing crude oil, natural gas and natural gas liquids.

The company’s current operations are concentrated in the United States and Canada. In the United States, Murphy Oil has assets in the Eagle Ford and Gulf Coast onshore regions, as well as interests in the Gulf of Mexico. In Canada, the company operates in Western Canadian plays, including the Tupper Montney area.

Murphy Oil was incorporated in 1950 and has historically pursued exploration and production opportunities in several international markets in addition to North America.