Murphy Oil (NYSE:MUR) Hits New 52-Week Low on Disappointing Earnings

Murphy Oil Co. (NYSE:MUR) hit a new 52-week low during mid-day trading on Thursday following a dissappointing earnings announcement. The company traded as low as $27.20 and last traded at $27.68, with a volume of 645177 shares. The stock had previously closed at $29.18.

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 previous year, the business posted $0.90 EPS.

Murphy Oil Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th will be given a dividend of $0.325 per share. This represents a $1.30 dividend on an annualized basis and a dividend yield of 4.68%. This is a positive change from Murphy Oil’s previous quarterly dividend of $0.30. Murphy Oil’s dividend payout ratio is currently 38.71%.

Wall Street Analyst Weigh In

MUR has been the subject of a number of research analyst reports. Wells Fargo & Company lowered their price target on Murphy Oil from $39.00 to $35.00 and set an “equal weight” rating for the company in a report on Monday, December 9th. BMO Capital Markets decreased their price target on shares of Murphy Oil from $42.00 to $40.00 and set a “market perform” rating for the company in a research note on Friday, October 4th. Piper Sandler dropped their price objective on Murphy Oil from $39.00 to $35.00 and set an “overweight” rating on the stock in a report on Wednesday. The Goldman Sachs Group reduced their target price on Murphy Oil from $44.00 to $39.00 and set a “neutral” rating for the company in a report on Monday, October 7th. Finally, Truist Financial upped their price target on shares of Murphy Oil from $40.00 to $42.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $39.08.

Hedge Funds Weigh In On Murphy Oil

Hedge funds and other institutional investors have recently made changes to their positions in the business. Quadrature Capital Ltd acquired a new position in shares of Murphy Oil during the third quarter worth about $1,217,000. Prospector Partners LLC lifted its position in shares of Murphy Oil by 50.5% during the third quarter. Prospector Partners LLC now owns 307,092 shares of the oil and gas producer’s stock worth $10,361,000 after purchasing an additional 103,092 shares in the last quarter. Citigroup Inc. boosted its position in Murphy Oil by 14.5% in the 3rd quarter. Citigroup Inc. now owns 605,557 shares of the oil and gas producer’s stock valued at $20,431,000 after buying an additional 76,487 shares during the last quarter. Bank of Montreal Can boosted its stake in shares of Murphy Oil by 26.7% during the 3rd quarter. Bank of Montreal Can now owns 67,246 shares of the oil and gas producer’s stock valued at $2,268,000 after buying an additional 14,181 shares during the last quarter. Finally, Klein Pavlis & Peasley Financial Inc. acquired a new stake in shares of Murphy Oil during the third quarter worth $796,000. Institutional investors and hedge funds own 78.31% of the company’s stock.

Murphy Oil Stock Down 4.8 %

The stock’s fifty day simple moving average is $30.97 and its two-hundred day simple moving average is $34.05. 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 $4.05 billion, a price-to-earnings ratio of 8.99 and a beta of 2.17.

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.