Murphy Oil Corporation (NYSE:MUR) Stock Has Average Price Target of $38.92

Shares of Murphy Oil Corporation (NYSE:MUR) have been given a consensus rating of “Hold” by the fifteen analysts that are currently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $39.75.

Several research analysts have recently issued reports on MUR shares. BMO Capital Markets restated a “market perform” rating on shares of Murphy Oil in a report on Wednesday, October 14th. Jefferies Financial Group set a $35.00 price target on shares of Murphy Oil and gave the company a “hold” rating in a report on Saturday, October 17th. UBS Group upped their price target on shares of Murphy Oil from $38.00 to $40.00 and gave the company a “neutral” rating in a report on Wednesday, October 14th. Seaport Research Partners started coverage on shares of Murphy Oil in a research report on Thursday, September 3rd. They set a “neutral” rating for the company. Finally, Mizuho raised their price target on shares of Murphy Oil from $41.00 to $44.00 and gave the stock a “neutral” rating in a report on Wednesday, October 14th.

Murphy Oil Price Performance

MUR opened at $42.97 on Monday. The stock’s 50 day simple moving average is $38.44 and its 200 day simple moving average is $36.68. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.85 and a quick ratio of 0.80. Murphy Oil has a 1 year low of $26.49 and a 1 year high of $45.03. The firm has a market cap of $6.16 billion, a price-to-earnings ratio of 21.27 and a beta of 0.59.

Murphy Oil (NYSE:MUR) last announced its quarterly earnings results 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 return on equity of 6.63% and a net margin of 9.74%. The company had revenue of $926.33 million during the quarter, compared to analysts’ expectations of $888.51 million. During the same period last year, the firm earned $0.27 earnings per share. Murphy Oil’s revenue for the quarter was up 33.5% on a year-over-year basis. As a group, analysts predict that Murphy Oil will post 3.65 earnings per share for the current year.

Murphy Oil Announces Dividend

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

Institutional Trading of Murphy Oil

A number of institutional investors have recently modified their holdings of the company. Citizens Financial Group Inc. RI bought a new position in shares of Murphy Oil during the third quarter valued at approximately $375,000. Evergreen Capital Management LLC purchased a new stake in Murphy Oil in the third quarter worth $204,000. Compass Wealth Management LLC purchased a new stake in Murphy Oil in the third quarter worth $46,000. Root Financial Partners LLC bought a new stake in Murphy Oil in the third quarter valued at $44,000. Finally, Crossmark Global Holdings Inc. boosted its holdings in 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. 78.31% of the stock is currently owned by hedge funds and other institutional investors.

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.