Murphy Oil (NYSE:MUR) Sets New 52-Week Low - Here's Why

Murphy Oil Co. (NYSE:MUR - Get Free Report) hit a new 52-week low on Wednesday . The stock traded as low as $20.16 and last traded at $20.54, with a volume of 3166695 shares. The stock had previously closed at $21.22.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on MUR. Truist Financial cut shares of Murphy Oil from a "buy" rating to a "hold" rating and cut their price target for the stock from $42.00 to $31.00 in a report on Friday, January 31st. Wells Fargo & Company reaffirmed an "equal weight" rating on shares of Murphy Oil in a research report on Monday, February 3rd. UBS Group lowered their price target on Murphy Oil from $28.00 to $23.00 and set a "neutral" rating for the company in a report on Monday, April 7th. JPMorgan Chase & Co. decreased their price objective on shares of Murphy Oil from $33.00 to $28.00 and set a "neutral" rating for the company in a research report on Thursday, March 13th. Finally, Barclays lowered Murphy Oil from an "equal weight" rating to an "underweight" rating and lowered their price objective for the stock from $32.00 to $24.00 in a research report on Wednesday, April 23rd. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $32.23.

Murphy Oil Price Performance

The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.77 and a current ratio of 0.83. The stock has a market capitalization of $3.09 billion, a PE ratio of 8.08 and a beta of 1.10. The stock's 50 day moving average is $23.87 and its two-hundred day moving average is $28.24.

Murphy Oil Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Friday, May 16th will be paid a $0.325 dividend. This represents a $1.30 dividend on an annualized basis and a dividend yield of 6.01%. The ex-dividend date of this dividend is Friday, May 16th. Murphy Oil's dividend payout ratio is presently 48.33%.

Insider Buying and Selling

In other Murphy Oil news, VP Meenambigai Palanivelu acquired 1,573 shares of the business's stock in a transaction on Wednesday, February 5th. The stock was bought at an average price of $26.70 per share, for a total transaction of $41,999.10. Following the acquisition, the vice president now owns 37,065 shares in the company, valued at approximately $989,635.50. The trade was a 4.43 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 6.52% of the stock is owned by company insiders.

Institutional Investors Weigh In On Murphy Oil

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Huntington National Bank increased its stake in shares of Murphy Oil by 342.8% in the 4th quarter. Huntington National Bank now owns 828 shares of the oil and gas producer's stock worth $25,000 after acquiring an additional 641 shares during the last quarter. Riverview Trust Co acquired a new stake in shares of Murphy Oil during the first quarter valued at about $26,000. GeoWealth Management LLC purchased a new stake in shares of Murphy Oil in the 4th quarter valued at approximately $39,000. Lindbrook Capital LLC lifted its holdings in shares of Murphy Oil by 60.5% in the 4th quarter. Lindbrook Capital LLC now owns 1,441 shares of the oil and gas producer's stock worth $44,000 after acquiring an additional 543 shares during the last quarter. Finally, Byrne Asset Management LLC purchased a new position in shares of Murphy Oil during the 1st quarter worth approximately $44,000. Institutional investors and hedge funds own 78.31% of the company's stock.

Murphy Oil Company Profile

Murphy Oil Corporation, together with its subsidiaries, operates as an oil and gas exploration and production company in the United States, Canada, 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.