Murphy Oil (NYSE:MUR) Shares Gap Down to $20.42

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Murphy Oil Co. (NYSE:MUR) gapped down before the market opened on Friday . The stock had previously closed at $20.05, but opened at $20.42. Murphy Oil shares last traded at $20.81, with a volume of 1,022,811 shares traded.

MUR has been the topic of a number of research analyst reports. KeyCorp initiated coverage on Murphy Oil in a research report on Monday. They set an “overweight” rating and a $24.00 price target on the stock. MKM Partners set a $38.00 price target on Murphy Oil and gave the stock a “buy” rating in a research report on Monday, August 12th. Piper Jaffray Companies set a $38.00 price target on Murphy Oil and gave the stock a “hold” rating in a research report on Friday, August 16th. Capital One Financial initiated coverage on Murphy Oil in a research report on Wednesday, July 10th. They set an “overweight” rating and a $37.00 price target on the stock. Finally, Morgan Stanley dropped their price target on Murphy Oil from $24.00 to $22.00 and set an “underweight” rating on the stock in a research report on Friday, July 12th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $31.71.

The stock has a 50-day moving average of $20.11 and a 200-day moving average of $25.04. The firm has a market cap of $3.38 billion, a price-to-earnings ratio of 16.35 and a beta of 2.02. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.21 and a current ratio of 1.25.

Murphy Oil (NYSE:MUR) last announced its earnings results on Thursday, August 8th. The oil and gas producer reported $0.21 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.03. Murphy Oil had a return on equity of 3.48% and a net margin of 12.37%. The business had revenue of $709.00 million for the quarter, compared to analyst estimates of $612.71 million. During the same quarter last year, the firm earned $0.36 EPS. Murphy Oil’s revenue for the quarter was up 81.8% compared to the same quarter last year. Sell-side analysts predict that Murphy Oil Co. will post 0.88 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 19th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.85%. The ex-dividend date of this dividend was Friday, August 16th. Murphy Oil’s dividend payout ratio is presently 79.37%.

In related news, Director Walentin Mirosh sold 1,360 shares of Murphy Oil stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $18.52, for a total value of $25,187.20. Following the sale, the director now owns 25,365 shares of the company’s stock, valued at approximately $469,759.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 6.46% of the stock is currently owned by company insiders.

Several large investors have recently bought and sold shares of MUR. Caymus Capital Partners L.P. acquired a new position in shares of Murphy Oil during the 2nd quarter worth approximately $44,387,000. Nuveen Asset Management LLC acquired a new position in shares of Murphy Oil during the 2nd quarter worth approximately $13,900,000. KBC Group NV acquired a new position in shares of Murphy Oil during the 2nd quarter worth approximately $12,497,000. Phocas Financial Corp. acquired a new position in shares of Murphy Oil during the 1st quarter worth approximately $7,114,000. Finally, Rubric Capital Management LP acquired a new position in shares of Murphy Oil during the 1st quarter worth approximately $5,860,000. 90.23% of the stock is currently owned by hedge funds and other institutional investors.

About Murphy Oil (NYSE:MUR)

Murphy Oil Corporation operates as an oil and gas exploration and production company in the United States, Canada, Malaysia, 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.

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