Murphy Oil Corporation Announces Quarterly Dividend of $0.35 (NYSE:MUR)

Murphy Oil Corporation (NYSE:MUR) announced a quarterly dividend on Wednesday, April 1st. Stockholders of record on Monday, May 18th will be paid a dividend of 0.35 per share by the oil and gas producer on Monday, June 1st. This represents a c) annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Monday, May 18th.

Murphy Oil has raised its dividend payment by an average of 0.2%annually over the last three years and has increased its dividend annually for the last 5 consecutive years. Murphy Oil has a payout ratio of 52.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Murphy Oil to earn $3.51 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 39.9%.

Murphy Oil Stock Up 4.3%

Shares of Murphy Oil stock opened at $40.64 on Friday. The business has a 50-day moving average of $38.60 and a 200-day moving average of $33.94. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.83 and a quick ratio of 0.77. The company has a market capitalization of $5.83 billion, a PE ratio of 68.88 and a beta of 0.55. Murphy Oil has a 1-year low of $20.31 and a 1-year high of $43.34.

Murphy Oil (NYSE:MUR) last posted its quarterly earnings results on Wednesday, May 6th. The oil and gas producer reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.03. The business had revenue of $732.35 million during the quarter, compared to the consensus estimate of $702.96 million. Murphy Oil had a return on equity of 3.09% and a net margin of 3.02%.The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period last year, the firm earned $0.56 earnings per share. As a group, equities analysts forecast that Murphy Oil will post 3.37 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently commented on MUR. Mizuho lifted their price target on Murphy Oil from $35.00 to $39.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 17th. BMO Capital Markets restated a “market perform” rating on shares of Murphy Oil in a research note on Tuesday, February 3rd. Scotiabank restated a “sector perform” rating and issued a $44.00 target price on shares of Murphy Oil in a research note on Wednesday. Zacks Research upgraded Murphy Oil from a “strong sell” rating to a “hold” rating in a research note on Monday, March 9th. Finally, Wall Street Zen upgraded Murphy Oil from a “sell” rating to a “hold” rating in a research note on Sunday, March 8th. Two analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $35.73.

Murphy Oil Company Profile

Murphy Oil Corporation is an independent upstream oil and gas company engaged in the exploration, development and production of crude oil, natural gas and natural gas liquids. The company’s operations encompass conventional onshore and offshore reservoirs, with an emphasis on liquids-rich properties and deepwater assets. Through a combination of proprietary technologies and strategic joint ventures, Murphy Oil seeks to optimize recovery rates and manage its portfolio to balance long-term resource development with operational flexibility.

Murphy Oil’s exploration and production activities are geographically diversified.