Murphy Oil Co. (MUR) To Go Ex-Dividend on November 18th

Murphy Oil Co. (NYSE:MUR) announced a quarterly dividend on Wednesday, October 2nd,Zacks Dividends reports. Investors of record on Monday, November 18th will be given 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 of this dividend is Monday, November 18th.

Murphy Oil has increased its dividend by an average of 20.7% annually over the last three years. Murphy Oil has a dividend payout ratio of 32.0% indicating that its dividend is sufficiently covered by earnings. Equities 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 Trading Down 2.5 %

NYSE:MUR opened at $32.50 on Friday. The business’s 50-day simple moving average is $33.74 and its 200-day simple moving average is $37.99. Murphy Oil has a fifty-two week low of $30.99 and a fifty-two week high of $49.14. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.71 and a quick ratio of 0.65. The stock 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 released its quarterly earnings results on Thursday, November 7th. The oil and gas producer reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.02). Murphy Oil had a net margin of 14.78% and a return on equity of 9.22%. The company had revenue of $758.33 million during the quarter, compared to analyst estimates of $759.74 million. During the same quarter last year, the company earned $1.59 EPS. The firm’s quarterly revenue was down 21.0% compared to the same quarter last year. Sell-side analysts expect that Murphy Oil will post 3.33 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have issued reports on the company. JPMorgan Chase & Co. dropped their price target on Murphy Oil from $47.00 to $39.00 and set a “neutral” rating on the stock in a research note on Thursday, September 12th. BMO Capital Markets cut their target price on Murphy Oil from $42.00 to $40.00 and set a “market perform” rating on the stock in a research note on Friday, October 4th. KeyCorp decreased their price target on shares of Murphy Oil from $54.00 to $50.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. The Goldman Sachs Group cut their price objective on shares of Murphy Oil from $44.00 to $39.00 and set a “neutral” rating on the stock in a research report on Monday, October 7th. Finally, Scotiabank decreased their target price 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 assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Murphy Oil has a consensus rating of “Hold” and an average price target 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.