Murphy Oil Co. (NYSE:MUR) to Issue Quarterly Dividend of $0.33

Murphy Oil Co. (NYSE:MUR) declared a quarterly dividend on Thursday, January 30th,RTT News reports. Investors of record on Tuesday, February 18th will be paid a dividend of 0.325 per share by the oil and gas producer on Monday, March 3rd. This represents a $1.30 dividend on an annualized basis and a dividend yield of 4.73%. This is a boost from Murphy Oil’s previous quarterly dividend of $0.30.

Murphy Oil has raised its dividend by an average of 33.9% per year over the last three years. Murphy Oil has a dividend payout ratio of 28.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Murphy Oil to earn $3.53 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 34.0%.

Murphy Oil Price Performance

Shares of NYSE:MUR opened at $27.47 on Friday. The firm’s 50 day simple moving average is $30.86 and its two-hundred day simple moving average is $34.00. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.71 and a quick ratio of 0.65. The company has a market capitalization of $4.01 billion, a P/E ratio of 8.86 and a beta of 2.17. Murphy Oil has a 1-year low of $27.15 and a 1-year high of $49.14.

Murphy Oil (NYSE:MUR) last issued its earnings results on Thursday, January 30th. The oil and gas producer reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.27). Murphy Oil had a return on equity of 9.22% and a net margin of 14.78%. During the same quarter in the prior year, the company posted $0.90 earnings per share. Research analysts expect that Murphy Oil will post 2.99 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on MUR shares. KeyCorp lowered their price target on Murphy Oil from $54.00 to $50.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. BMO Capital Markets lowered their target price on shares of Murphy Oil from $42.00 to $40.00 and set a “market perform” rating on the stock in a report on Friday, October 4th. Piper Sandler cut their target price on shares of Murphy Oil from $39.00 to $35.00 and set an “overweight” rating for the company in a research note on Wednesday. Mizuho decreased their price target on shares of Murphy Oil from $50.00 to $45.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Finally, Wells Fargo & Company cut their price objective on Murphy Oil from $39.00 to $35.00 and set an “equal weight” rating for the company in a research report on Monday, December 9th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $38.17.

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.