Murphy Oil Co. (MUR) to Issue Quarterly Dividend of $0.30 on December 2nd

Murphy Oil Co. (NYSE:MUR) declared a quarterly dividend on Wednesday, October 2nd, Zacks reports. Stockholders of record on Monday, November 18th will be paid a dividend of 0.30 per share by the oil and gas producer on Monday, December 2nd. This represents a $1.20 annualized dividend and a dividend yield of 3.37%. The ex-dividend date of this dividend is Monday, November 18th.

Murphy Oil has raised its dividend payment by an average of 20.7% annually over the last three years. Murphy Oil has a payout ratio of 26.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Murphy Oil to earn $4.62 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 26.0%.

Murphy Oil Price Performance

Shares of MUR opened at $35.61 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.82 and a quick ratio of 0.76. Murphy Oil has a 1-year low of $32.53 and a 1-year high of $49.14. The stock has a market cap of $5.43 billion, a PE ratio of 9.92 and a beta of 2.21. The firm has a fifty day moving average price of $36.53 and a 200 day moving average price of $40.84.

Murphy Oil (NYSE:MUR) last posted its earnings results on Thursday, August 8th. The oil and gas producer reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.08. The business had revenue of $802.80 million during the quarter, compared to the consensus estimate of $813.97 million. Murphy Oil had a return on equity of 11.68% and a net margin of 17.32%. The business’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.79 EPS. As a group, sell-side analysts anticipate that Murphy Oil will post 3.57 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MUR. Wolfe Research began coverage on Murphy Oil in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Mizuho lowered their price objective on shares of Murphy Oil from $59.00 to $50.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Scotiabank lowered shares of Murphy Oil from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 9th. Piper Sandler decreased their target price on shares of Murphy Oil from $54.00 to $44.00 and set an “overweight” rating for the company in a research note on Thursday, August 15th. Finally, StockNews.com cut Murphy Oil from a “buy” rating to a “hold” rating in a research report on Tuesday, June 18th. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $42.91.

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.