Murphy Oil (NYSE:MUR) Announces Quarterly Earnings Results

Murphy Oil (NYSE:MUR) issued its quarterly earnings results on Thursday. The oil and gas producer reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.03, Briefing.com reports. The company had revenue of $794.80 million for the quarter, compared to analyst estimates of $750.94 million. Murphy Oil had a return on equity of 13.02% and a net margin of 19.12%. The company’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.24 earnings per share.

Murphy Oil Stock Down 0.2 %

MUR stock traded down $0.07 during trading on Friday, reaching $44.15. 1,665,391 shares of the stock were exchanged, compared to its average volume of 1,798,453. The firm’s 50 day moving average is $44.38 and its 200 day moving average is $42.70. Murphy Oil has a twelve month low of $32.80 and a twelve month high of $49.14. The company has a current ratio of 0.89, a quick ratio of 0.82 and a debt-to-equity ratio of 0.24. The firm has a market cap of $6.74 billion, a P/E ratio of 10.46 and a beta of 2.22.

Murphy Oil Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.72%. The ex-dividend date of this dividend is Friday, May 17th. Murphy Oil’s dividend payout ratio is presently 28.44%.

Analysts Set New Price Targets

MUR has been the topic of several research analyst reports. Piper Sandler increased their price objective on shares of Murphy Oil from $49.00 to $55.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. Scotiabank cut Murphy Oil from a “sector outperform” rating to a “sector perform” rating and boosted their price objective for the stock from $46.00 to $50.00 in a report on Thursday, April 11th. UBS Group decreased their target price on Murphy Oil from $45.00 to $43.00 and set a “neutral” rating on the stock in a research report on Monday, January 29th. KeyCorp boosted their target price on shares of Murphy Oil from $50.00 to $54.00 and gave the company an “overweight” rating in a research report on Monday, April 22nd. Finally, JPMorgan Chase & Co. increased their target price on shares of Murphy Oil from $51.00 to $52.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.64.

Insider Transactions at Murphy Oil

In related news, VP Maria A. Martinez sold 10,000 shares of Murphy Oil stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $43.35, for a total transaction of $433,500.00. Following the transaction, the vice president now owns 40,590 shares of the company’s stock, valued at $1,759,576.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, VP Louis W. Utsch sold 30,260 shares of Murphy Oil stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $39.94, for a total value of $1,208,584.40. Following the completion of the sale, the vice president now owns 9,504 shares of the company’s stock, valued at approximately $379,589.76. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Maria A. Martinez sold 10,000 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $43.35, for a total value of $433,500.00. Following the completion of the transaction, the vice president now directly owns 40,590 shares of the company’s stock, valued at $1,759,576.50. The disclosure for this sale can be found here. Insiders sold a total of 156,260 shares of company stock valued at $6,322,644 over the last three months. Corporate insiders own 5.92% of the company’s stock.

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.