Murphy Oil (MUR) Shares Gap Down to $26.69
Murphy Oil Co. (NYSE:MUR) gapped down before the market opened on Thursday . The stock had previously closed at $27.35, but opened at $26.69. Murphy Oil shares last traded at $25.38, with a volume of 4869780 shares.
A number of research firms have recently weighed in on MUR. Zacks Investment Research upgraded Murphy Oil from a “hold” rating to a “buy” rating and set a $31.00 target price for the company in a research report on Wednesday. Morgan Stanley set a $27.00 price objective on Murphy Oil and gave the company a “sell” rating in a report on Thursday, May 16th. Stephens set a $40.00 price objective on Murphy Oil and gave the company a “hold” rating in a report on Friday, May 17th. TheStreet downgraded Murphy Oil from a “b” rating to a “c” rating in a report on Tuesday, May 14th. Finally, ValuEngine downgraded Murphy Oil from a “hold” rating to a “sell” rating in a report on Wednesday, May 1st. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $34.88.
The firm has a market cap of $4.77 billion, a P/E ratio of 20.14 and a beta of 2.14. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.67.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be issued a $0.25 dividend. The ex-dividend date is Friday, May 17th. This represents a $1.00 dividend on an annualized basis and a yield of 3.94%. Murphy Oil’s dividend payout ratio is presently 79.37%.
In other Murphy Oil news, VP John B. Gardner sold 8,364 shares of the stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $28.94, for a total value of $242,054.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Thomas J. Mireles sold 7,400 shares of the stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $27.60, for a total value of $204,240.00. Following the completion of the sale, the insider now owns 21,368 shares of the company’s stock, valued at $589,756.80. The disclosure for this sale can be found here. 6.46% of the stock is owned by corporate insiders.
Several institutional investors have recently made changes to their positions in the business. Vanguard Group Inc increased its holdings in shares of Murphy Oil by 4.4% in the third quarter. Vanguard Group Inc now owns 16,743,205 shares of the oil and gas producer’s stock worth $558,218,000 after acquiring an additional 707,445 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Murphy Oil by 2.3% in the fourth quarter. BlackRock Inc. now owns 16,394,584 shares of the oil and gas producer’s stock worth $383,469,000 after acquiring an additional 372,647 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Murphy Oil by 1.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,817,092 shares of the oil and gas producer’s stock worth $136,061,000 after acquiring an additional 93,228 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Murphy Oil by 23.2% in the first quarter. Goldman Sachs Group Inc. now owns 2,680,467 shares of the oil and gas producer’s stock worth $78,537,000 after acquiring an additional 504,409 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Murphy Oil in the fourth quarter worth about $58,361,000. Institutional investors own 82.82% of the company’s stock.
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About Murphy Oil (NYSE:MUR)
Murphy Oil Corporation operates as an oil and gas exploration and production company in the United States, Canada, Malaysia, 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.
Further Reading: Are sell-side analysts objective?
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