Murphy Oil Corp. (MUR) Downgraded to “Hold” at Zacks Investment Research
According to Zacks, “Murphy Oil’s systematic investments in exploration and production activities will act as a tailwind. Steady production from its assets is enabling the company to maintain its 2016 production levels despite a substantial reduction in capital expenditure for the year. The company’s entry into the Eagle Ford shale has been successful. Moreover, it is good to see that efficient cost management and systematic asset divestment have allowed the company to lower its expenses. Stringent regulations and a highly competitive industry are headwinds for the company. Operational risks and foreign currency translation issues also pose headwinds.”
MUR has been the subject of a number of other reports. JPMorgan Chase & Co. reiterated a hold rating on shares of Murphy Oil Corp. in a research report 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 report on Monday, June 20th. Barclays PLC reiterated an overweight rating and issued a $42.00 target price on shares of Murphy Oil Corp. in a research report on Tuesday, August 2nd. Finally, Credit Agricole SA reiterated a sell rating on shares of Murphy Oil Corp. in a research report on Tuesday, August 16th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the stock. Murphy Oil Corp. currently has a consensus rating of Hold and an average target price of $26.80.
Murphy Oil Corp. (NYSE:MUR) traded up 3.19% during midday trading on Tuesday, reaching $29.10. 546,444 shares of the company’s stock traded hands. Murphy Oil Corp. has a 1-year low of $14.30 and a 1-year high of $37.48. The company’s market capitalization is $5.01 billion. The firm’s 50-day moving average is $27.97 and its 200-day moving average is $29.42.
Murphy Oil Corp. (NYSE:MUR) last posted its quarterly earnings data on Wednesday, July 27th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.39) by $0.03. Murphy Oil Corp. had a negative net margin of 106.14% and a negative return on equity of 7.93%. During the same quarter in the prior year, the business earned ($0.48) EPS. Analysts forecast that Murphy Oil Corp. will post ($1.32) earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Monday, November 14th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.55%. The ex-dividend date of this dividend is Wednesday, November 9th. Murphy Oil Corp.’s dividend payout ratio (DPR) is presently -7.24%.
In related news, Director Robert Madison Murphy bought 22,594 shares of the stock in a transaction on Monday, August 8th. The stock was bought at an average price of $21.93 per share, with a total value of $495,486.42. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 6.39% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Charter Trust Co. raised its position in shares of Murphy Oil Corp. by 5.2% in the third quarter. Charter Trust Co. now owns 20,799 shares of the company’s stock valued at $632,000 after buying an additional 1,032 shares during the period. Cornerstone Investment Partners LLC raised its position in shares of Murphy Oil Corp. by 41.4% in the third quarter. Cornerstone Investment Partners LLC now owns 28,633 shares of the company’s stock valued at $870,000 after buying an additional 8,384 shares during the period. Adams Asset Advisors LLC raised its position in shares of Murphy Oil Corp. by 5.5% in the third quarter. Adams Asset Advisors LLC now owns 352,687 shares of the company’s stock valued at $10,721,000 after buying an additional 18,531 shares during the period. Highland Capital Management LLC raised its position in shares of Murphy Oil Corp. by 0.6% in the third quarter. Highland Capital Management LLC now owns 71,627 shares of the company’s stock valued at $2,177,000 after buying an additional 455 shares during the period. Finally, Capstone Asset Management Co. raised its position in shares of Murphy Oil Corp. by 0.9% in the third quarter. Capstone Asset Management Co. now owns 10,049 shares of the company’s stock valued at $305,000 after buying an additional 90 shares during the period. 92.58% of the stock is owned by institutional investors.
Murphy Oil Corp. Company Profile
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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