Murphy Oil Corporation (NYSE:MUR) Announces Quarterly Dividend of $0.35

Key Points

• Murphy Oil declared a quarterly dividend of $0.35 per share, payable December 1 to shareholders of record on November 16. The annualized dividend is $1.40 per share, representing a 3.8% yield.
• The dividend appears adequately covered, with a payout ratio of 52.4%; analysts expect next year’s earnings to support a similar 52.2% payout ratio. Murphy Oil has raised its dividend for five consecutive years.
• In its latest quarter, Murphy Oil reported $1.55 in EPS, slightly below estimates, while revenue rose 33.5% year over year to $926.33 million. Institutional investors own 78.31% of the company’s stock.

Murphy Oil Corporation (NYSE:MUR - Get Free Report) declared a quarterly dividend on Wednesday, October 7th. Stockholders of record on Monday, November 16th will be paid a dividend of $0.35 per share by the oil and gas producer on Tuesday, December 1st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Monday, November 16th.

Murphy Oil has increased its dividend by an average of 0.2%annually over the last three years and has increased its dividend annually for the last 5 consecutive years. Murphy Oil has a dividend payout ratio of 52.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Murphy Oil to earn $2.68 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 52.2%.

Murphy Oil Price Performance

Shares of NYSE:MUR opened at $37.25 on Thursday. Murphy Oil has a 52 week low of $26.49 and a 52 week high of $43.34. The company has a 50-day moving average price of $36.79 and a 200 day moving average price of $37.38. The company has a market cap of $5.34 billion, a P/E ratio of 18.44 and a beta of 0.59. The company has a quick ratio of 0.80, a current ratio of 0.85 and a debt-to-equity ratio of 0.29.

Murphy Oil (NYSE:MUR - Get Free Report) last released its earnings results on Wednesday, August 5th. The oil and gas producer reported $1.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.57 by ($0.02). The business had revenue of $926.33 million for the quarter, compared to analyst estimates of $888.51 million. Murphy Oil had a return on equity of 6.63% and a net margin of 9.74%.The business's revenue for the quarter was up 33.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.27 EPS. Research analysts predict that Murphy Oil will post 2.64 earnings per share for the current year.

Institutional Trading of Murphy Oil

Large investors have recently bought and sold shares of the company. BlackRock Inc. purchased a new position in Murphy Oil during the second quarter worth $626,514,000. Arrowstreet Capital Limited Partnership lifted its position in shares of Murphy Oil by 105.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 3,310,884 shares of the oil and gas producer's stock valued at $136,574,000 after acquiring an additional 1,700,498 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Murphy Oil in the second quarter valued at $49,681,000. Bank of America Corp DE acquired a new stake in shares of Murphy Oil during the second quarter valued at $45,719,000. Finally, Pacific Heights Asset Management LLC acquired a new stake in shares of Murphy Oil during the second quarter valued at $19,536,000. Institutional investors and hedge funds own 78.31% of the company's stock.

About Murphy Oil

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.

The company's current operations are concentrated in the United States and Canada. In the United States, Murphy Oil has assets in the Eagle Ford and Gulf Coast onshore regions, as well as interests in the Gulf of Mexico. In Canada, the company operates in Western Canadian plays, including the Tupper Montney area.

Murphy Oil was incorporated in 1950 and has historically pursued exploration and production opportunities in several international markets in addition to North America.

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