Murphy Oil Corp. (NYSE:MUR) shares dropped 2.7% on Tuesday . The company traded as low as $28.09 and last traded at $28.15, with a volume of 2,103,730 shares trading hands. The stock had previously closed at $28.93.

MUR has been the topic of a number of analyst reports. Zacks Investment Research cut shares of Murphy Oil Corp. from a “buy” rating to a “hold” rating in a research note on Thursday, August 11th. Credit Suisse Group AG restated a “hold” rating on shares of Murphy Oil Corp. in a research note on Sunday, May 8th. JPMorgan Chase & Co. restated a “hold” rating on shares of Murphy Oil Corp. in a research note on Thursday, June 30th. Raymond James Financial Inc. upgraded shares of Murphy Oil Corp. from an “underperform” rating to a “market perform” rating in a research note on Monday, June 20th. Finally, Barclays PLC restated an “overweight” rating and set a $42.00 target price on shares of Murphy Oil Corp. in a research note on Tuesday, August 2nd. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $26.91.

The company’s 50-day moving average is $28.99 and its 200 day moving average is $27.91. The stock’s market cap is $4.87 billion.

Murphy Oil Corp. (NYSE:MUR) last announced its quarterly earnings results on Wednesday, July 27th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.39) by $0.03. During the same quarter in the previous year, the company earned ($0.48) EPS. Analysts predict that Murphy Oil Corp. will post ($1.23) earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 1st. Investors of record on Monday, August 15th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date is Thursday, August 11th.

In other news, Director Robert Madison Murphy purchased 22,594 shares of the stock in a transaction that occurred on Monday, August 8th. The shares were purchased at an average cost of $21.93 per share, with a total value of $495,486.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Murphy Oil Corporation is an oil and gas exploration and production company. The Company’s exploration and production business explores for and produces crude oil, natural gas and natural gas liquids across the world. The Company’s exploration and production activities are subdivided into four geographic segments, including the United States, Canada, Malaysia and all other countries.

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