Murphy Oil Co. (NYSE:MUR) to Issue Quarterly Dividend of $0.30

Murphy Oil Co. (NYSE:MUR) declared a quarterly dividend on Wednesday, August 7th, RTT News reports. Shareholders of record on Monday, August 19th will be paid a dividend of 0.30 per share by the oil and gas producer on Tuesday, September 3rd. This represents a $1.20 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date of this dividend is Monday, August 19th.

Murphy Oil has raised its dividend payment by an average of 20.7% per year over the last three years. Murphy Oil has a payout ratio of 21.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Murphy Oil to earn $6.01 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 20.0%.

Murphy Oil Trading Down 0.4 %

MUR stock opened at $37.43 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.87 and a debt-to-equity ratio of 0.24. The firm has a market cap of $5.71 billion, a P/E ratio of 10.43 and a beta of 2.25. Murphy Oil has a 1-year low of $35.61 and a 1-year high of $49.14. The business’s 50 day moving average is $39.76 and its 200-day moving average is $41.74.

Murphy Oil (NYSE:MUR) last announced its quarterly earnings results on Thursday, August 8th. The oil and gas producer reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.08. The firm had revenue of $802.80 million for the quarter, compared to analysts’ expectations of $813.97 million. Murphy Oil had a return on equity of 11.75% and a net margin of 16.40%. The business’s revenue was down 1.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.79 earnings per share. Equities analysts anticipate that Murphy Oil will post 4.16 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MUR has been the subject of several analyst reports. Wolfe Research began coverage on shares of Murphy Oil in a report on Thursday, July 18th. They set a “peer perform” rating for the company. Mizuho lifted their target price on shares of Murphy Oil from $55.00 to $59.00 and gave the company a “buy” rating in a research note on Monday, May 13th. StockNews.com lowered Murphy Oil from a “buy” rating to a “hold” rating in a research report on Tuesday, June 18th. Truist Financial dropped their price target on Murphy Oil from $59.00 to $55.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Finally, KeyCorp boosted their price objective on Murphy Oil from $50.00 to $54.00 and gave the stock an “overweight” rating in a research note on Monday, April 22nd. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $48.36.

Murphy Oil Company Profile

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.