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

Murphy Oil Co. (NYSE:MUR) announced a quarterly dividend on Wednesday, October 2nd, Zacks reports. Stockholders of record on Monday, November 18th will be given a dividend of 0.30 per share by the oil and gas producer on Monday, December 2nd. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.47%. The ex-dividend date of this dividend is Monday, November 18th.

Murphy Oil has increased its dividend payment by an average of 20.7% per year over the last three years. Murphy Oil has a dividend payout ratio of 26.0% meaning its dividend is sufficiently covered by earnings. Research 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 NYSE:MUR opened at $34.62 on Thursday. Murphy Oil has a one year low of $32.53 and a one year high of $49.14. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.82 and a quick ratio of 0.76. The company has a market cap of $5.28 billion, a price-to-earnings ratio of 9.64 and a beta of 2.21. The firm has a 50 day simple moving average of $36.63 and a 200 day simple moving average of $40.88.

Murphy Oil (NYSE:MUR) last announced its quarterly earnings results on Thursday, August 8th. The oil and gas producer reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.08. Murphy Oil had a return on equity of 11.68% and a net margin of 17.32%. The company had revenue of $802.80 million during the quarter, compared to analysts’ expectations of $813.97 million. During the same period in the prior year, the company earned $0.79 EPS. Murphy Oil’s revenue was down 1.4% compared to the same quarter last year. Research analysts predict that Murphy Oil will post 3.57 earnings per share for the current fiscal year.

Analyst Ratings Changes

MUR has been the topic of a number of recent research reports. Wells Fargo & Company cut their price target on Murphy Oil from $41.00 to $39.00 and set an “equal weight” rating on the stock in a research note on Friday, September 27th. Mizuho reduced their target price on shares of Murphy Oil from $59.00 to $50.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. StockNews.com cut shares of Murphy Oil from a “buy” rating to a “hold” rating in a research report on Tuesday, June 18th. Morgan Stanley cut their price target on shares of Murphy Oil from $43.00 to $39.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. Finally, Truist Financial reduced their price objective on shares of Murphy Oil from $55.00 to $42.00 and set a “buy” rating on the stock in a research note on Monday. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $43.64.

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.