Murphy Oil Corporation (NYSE:MUR – Get Free Report)’s stock price hit a new 52-week high during mid-day trading on Monday. The stock traded as high as $45.03 and last traded at $44.0520, with a volume of 1,543,682 shares trading hands. The stock had previously closed at $44.34.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently commented on MUR shares. Seaport Research Partners started coverage on Murphy Oil in a research note on Thursday, September 3rd. They issued a “neutral” rating on the stock. Scotiabank started coverage on Murphy Oil in a research report on Wednesday, October 14th. They issued a “sector perform” rating and a $41.00 price target on the stock. BMO Capital Markets reiterated a “market perform” rating on shares of Murphy Oil in a report on Wednesday, October 14th. Wells Fargo & Company reissued a “positive” rating on shares of Murphy Oil in a research report on Tuesday, September 29th. Finally, KeyCorp raised their price objective on shares of Murphy Oil from $43.00 to $47.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 15th. Four research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $39.75.
Check Out Our Latest Stock Analysis on MUR
Murphy Oil Stock Down 2.5%
The stock has a fifty day moving average price of $38.29 and a 200-day moving average price of $36.63.
Murphy Oil (NYSE:MUR – Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The oil and gas producer reported $1.55 EPS for the quarter, missing the consensus estimate of $1.57 by ($0.02). The company had revenue of $926.33 million during the quarter, compared to analyst estimates of $888.51 million. During the same quarter last year, the company posted $0.27 earnings per share. Murphy Oil’s quarterly revenue was up 33.5% compared to the same quarter last year. Research analysts predict that Murphy Oil Corporation will post 3.65 earnings per share for the current year.
Murphy Oil Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Monday, November 16th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, November 16th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.2%.
Institutional Investors Weigh In On Murphy Oil
A number of hedge funds have recently made changes to their positions in the company. BlackRock Inc. acquired a new position in Murphy Oil in the second quarter valued at about $626,514,000. Dimensional Fund Advisors LP grew its stake in Murphy Oil by 3.0% during the first quarter. Dimensional Fund Advisors LP now owns 8,171,385 shares of the oil and gas producer’s stock worth $337,081,000 after buying an additional 238,326 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Murphy Oil by 105.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 3,310,884 shares of the oil and gas producer’s stock worth $136,574,000 after buying an additional 1,700,498 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of Murphy Oil by 3.4% during the first quarter. Bank of America Corp DE now owns 1,836,056 shares of the oil and gas producer’s stock worth $75,737,000 after buying an additional 60,190 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Murphy Oil by 0.4% during the first quarter. Bank of New York Mellon Corp now owns 1,571,120 shares of the oil and gas producer’s stock worth $64,809,000 after buying an additional 6,064 shares in the last quarter. Institutional investors and hedge funds own 78.31% of the company’s stock.
Murphy Oil Company Profile
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.
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