Murphy Oil (NYSE:MUR) Sets New 52-Week High – Still a Buy?

Murphy Oil Corporation (NYSE:MUR) shares hit a new 52-week high on Tuesday. The company traded as high as $43.40 and last traded at $42.9690, with a volume of 87,450 shares trading hands. The stock had previously closed at $42.54.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on MUR. Wells Fargo & Company reissued a “positive” rating on shares of Murphy Oil in a research note on Tuesday, September 29th. Seaport Research Partners started coverage on Murphy Oil in a research report on Thursday, September 3rd. They set a “neutral” rating on the stock. Jefferies Financial Group set a $35.00 target price on Murphy Oil and gave the stock a “hold” rating in a research report on Saturday. Morgan Stanley raised their target price on Murphy Oil from $36.00 to $37.00 and gave the company an “underweight” rating in a research note on Thursday. Finally, KeyCorp raised their target price on Murphy Oil from $43.00 to $47.00 and gave the company an “overweight” rating in a research note on Tuesday, September 15th. Four equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $38.92.

Murphy Oil Stock Down 0.7%

The company has a debt-to-equity ratio of 0.29, a current ratio of 0.85 and a quick ratio of 0.80. The stock has a 50 day simple moving average of $37.32 and a 200-day simple moving average of $37.36. The firm has a market cap of $6.06 billion, a PE ratio of 20.87 and a beta of 0.59.

Murphy Oil (NYSE:MUR) last released its earnings results on Wednesday, August 5th. The oil and gas producer reported $1.55 EPS for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.02). Murphy Oil had a return on equity of 6.63% and a net margin of 9.74%. The company had revenue of $926.33 million during the quarter, compared to analysts’ expectations of $888.51 million. During the same period in the prior year, the company posted $0.27 earnings per share. The company’s revenue was up 33.5% on a year-over-year basis. Sell-side analysts predict that Murphy Oil Corporation will post 3.65 EPS for the current fiscal year.

Murphy Oil Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Monday, November 16th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Monday, November 16th. Murphy Oil’s payout ratio is currently 69.31%.

Institutional Trading of Murphy Oil

Several institutional investors have recently bought and sold shares of MUR. Jupiter Topco LLC bought a new stake in Murphy Oil during the 2nd quarter valued at about $2,065,000. SailingStone Capital Partners LLC bought a new position in shares of Murphy Oil in the second quarter worth approximately $15,852,000. Bank of America Corp DE bought a new position in shares of Murphy Oil in the second quarter worth approximately $45,719,000. Legal & General Group Plc bought a new position in shares of Murphy Oil in the second quarter worth approximately $5,789,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of Murphy Oil during the first quarter valued at approximately $1,745,000. 78.31% of the stock is owned by hedge funds and other institutional investors.

Murphy Oil Company Profile

Murphy Oil Corporation (NYSE:MUR) is an independent oil and natural gas exploration and production company. Its activities include identifying, acquiring, developing and producing crude oil, natural gas and natural gas liquids, with a focus on high-quality assets in North America.

The company’s operations are primarily located in the United States, including onshore assets in the Eagle Ford Shale of South Texas and offshore properties in the Gulf of Mexico. Murphy Oil has also historically maintained exploration and production interests in Canada and other international regions, although its current portfolio is concentrated in the United States.

Founded in 1950, Murphy Oil has evolved from a diversified energy company into a focused exploration and production business.