Murphy Oil (NYSE:MUR) Reaches New 1-Year High – Time to Buy?

Murphy Oil Corporation (NYSE:MUR) shares hit a new 52-week high on Tuesday. The stock traded as high as $43.40 and last traded at $42.9690, with a volume of 87,450 shares traded. The stock had previously closed at $42.54.

Wall Street Analyst Weigh In

MUR has been the subject of several analyst reports. UBS Group boosted their price objective on Murphy Oil from $38.00 to $40.00 and gave the company a “neutral” rating in a report on Wednesday, October 14th. Wall Street Zen upgraded Murphy Oil from a “hold” rating to a “buy” rating in a research note on Saturday, October 17th. Barclays lowered Murphy Oil from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $38.00 to $34.00 in a report on Friday, August 14th. Scotiabank started coverage on Murphy Oil in a research report on Wednesday, October 14th. They set a “sector perform” rating and a $41.00 price target for the company. Finally, Morgan Stanley boosted their price target on Murphy Oil from $36.00 to $37.00 and gave the company an “underweight” rating in a report on Thursday, October 15th. Four equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $38.92.

Murphy Oil Stock Performance

The company has a debt-to-equity ratio of 0.29, a current ratio of 0.85 and a quick ratio of 0.80. The firm has a fifty day simple moving average of $37.62 and a 200 day simple moving average of $37.40. The company has a market capitalization of $6.16 billion, a price-to-earnings ratio of 21.26 and a beta of 0.59.

Murphy Oil (NYSE:MUR) last posted its quarterly earnings data on Wednesday, August 5th. The oil and gas producer reported $1.55 EPS for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.02). Murphy Oil had a net margin of 9.74% and a return on equity of 6.63%. The business had revenue of $926.33 million during the quarter, compared to analysts’ expectations of $888.51 million. During the same quarter last year, the firm earned $0.27 earnings per share. The firm’s quarterly revenue was up 33.5% compared to the same quarter last year. On average, analysts anticipate that Murphy Oil Corporation will post 3.65 earnings per share for the current fiscal year.

Murphy Oil Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Monday, November 16th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Monday, November 16th. Murphy Oil’s payout ratio is presently 69.31%.

Hedge Funds Weigh In On Murphy Oil

Large investors have recently added to or reduced their stakes in the stock. Crossmark Global Holdings Inc. lifted its position in shares of Murphy Oil by 38.7% in the third quarter. Crossmark Global Holdings Inc. now owns 11,990 shares of the oil and gas producer’s stock valued at $444,000 after acquiring an additional 3,344 shares in the last quarter. Prime Capital Investment Advisors LLC purchased a new stake in shares of Murphy Oil during the third quarter worth approximately $241,000. Willis Investment Counsel purchased a new stake in shares of Murphy Oil during the third quarter worth approximately $200,000. Foundation Resource Management Inc. purchased a new stake in shares of Murphy Oil during the third quarter worth approximately $224,000. Finally, Abel Hall LLC raised its stake in Murphy Oil by 4.5% in the 3rd quarter. Abel Hall LLC now owns 10,233 shares of the oil and gas producer’s stock valued at $379,000 after purchasing an additional 440 shares during the last quarter. 78.31% of the stock is currently owned by institutional investors and hedge funds.

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, with a focus on high-quality assets in North America.

The company’s operations are primarily located in the United States, including onshore assets in the Eagle Ford Shale of South Texas and offshore properties in the Gulf of Mexico. Murphy Oil has also historically maintained exploration and production interests in Canada and other international regions, although its current portfolio is concentrated in the United States.

Founded in 1950, Murphy Oil has evolved from a diversified energy company into a focused exploration and production business.