Murphy Oil (NYSE:MUR) Shares Up 3.3% – Here’s What Happened

Murphy Oil Co. (NYSE:MUR) shares rose 3.3% during mid-day trading on Wednesday . The company traded as high as $28.65 and last traded at $28.65. Approximately 212,721 shares traded hands during mid-day trading, a decline of 93% from the average daily volume of 2,938,729 shares. The stock had previously closed at $27.74.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on MUR shares. JPMorgan Chase & Co. lowered their price target on Murphy Oil from $33.00 to $28.00 and set a “neutral” rating on the stock in a report on Thursday, March 13th. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Murphy Oil in a research note on Monday, February 3rd. UBS Group dropped their target price on Murphy Oil from $34.00 to $32.00 and set a “neutral” rating on the stock in a report on Monday, February 3rd. Barclays decreased their price target on shares of Murphy Oil from $34.00 to $32.00 and set an “equal weight” rating for the company in a report on Tuesday, March 18th. Finally, Roth Capital set a $37.00 price objective on shares of Murphy Oil in a research note on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Murphy Oil currently has a consensus rating of “Hold” and an average price target of $35.31.

Murphy Oil Stock Up 2.8 %

The company has a current ratio of 0.83, a quick ratio of 0.77 and a debt-to-equity ratio of 0.24. The business’s fifty day moving average price is $27.63 and its two-hundred day moving average price is $30.81. The firm has a market cap of $4.16 billion, a P/E ratio of 10.62 and a beta of 2.18.

Murphy Oil (NYSE:MUR) last posted its earnings results on Thursday, January 30th. The oil and gas producer reported $0.35 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.27). Murphy Oil had a return on equity of 7.66% and a net margin of 13.44%. During the same quarter last year, the company earned $0.90 EPS. As a group, equities research analysts anticipate that Murphy Oil Co. will post 2.94 EPS for the current year.

Murphy Oil Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 18th were paid a $0.325 dividend. This represents a $1.30 dividend on an annualized basis and a dividend yield of 4.56%. This is an increase from Murphy Oil’s previous quarterly dividend of $0.30. The ex-dividend date was Tuesday, February 18th. Murphy Oil’s dividend payout ratio (DPR) is presently 48.33%.

Insiders Place Their Bets

In other Murphy Oil news, Director Claiborne P. Deming acquired 50,000 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were acquired at an average cost of $26.47 per share, for a total transaction of $1,323,500.00. Following the completion of the purchase, the director now owns 931,651 shares of the company’s stock, valued at approximately $24,660,801.97. This trade represents a 5.67 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Meenambigai Palanivelu bought 1,573 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The shares were acquired at an average price of $26.70 per share, with a total value of $41,999.10. Following the purchase, the vice president now owns 37,065 shares in the company, valued at $989,635.50. This trade represents a 4.43 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 5.92% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in MUR. Huntington National Bank grew its stake in shares of Murphy Oil by 342.8% in the fourth quarter. Huntington National Bank now owns 828 shares of the oil and gas producer’s stock worth $25,000 after acquiring an additional 641 shares during the last quarter. GeoWealth Management LLC acquired a new stake in Murphy Oil in the 4th quarter worth $39,000. Lindbrook Capital LLC increased its holdings in shares of Murphy Oil by 60.5% during the 4th quarter. Lindbrook Capital LLC now owns 1,441 shares of the oil and gas producer’s stock worth $44,000 after purchasing an additional 543 shares during the period. Headlands Technologies LLC raised its position in shares of Murphy Oil by 32.9% during the fourth quarter. Headlands Technologies LLC now owns 1,903 shares of the oil and gas producer’s stock valued at $58,000 after buying an additional 471 shares during the last quarter. Finally, Jones Financial Companies Lllp raised its position in shares of Murphy Oil by 32.9% during the fourth quarter. Jones Financial Companies Lllp now owns 2,284 shares of the oil and gas producer’s stock valued at $69,000 after buying an additional 565 shares during the last quarter. 78.31% of the stock is owned by institutional investors.

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.