Murphy Oil (NYSE:MUR) Shares Down 6% - What's Next?

Murphy Oil Corporation (NYSE:MUR - Get Free Report) was down 6% on Monday . The company traded as low as $23.25 and last traded at $23.34. Approximately 2,578,910 shares were traded during mid-day trading, an increase of 12% from the average daily volume of 2,312,357 shares. The stock had previously closed at $24.83.

Analysts Set New Price Targets

A number of analysts recently weighed in on MUR shares. Mizuho downgraded Murphy Oil from an "outperform" rating to a "neutral" rating and decreased their price objective for the company from $32.00 to $31.00 in a report on Tuesday, May 13th. Morgan Stanley decreased their price objective on Murphy Oil from $27.00 to $26.00 and set an "underweight" rating for the company in a report on Friday, May 23rd. Wells Fargo & Company set a $24.00 price objective on Murphy Oil and gave the company an "equal weight" rating in a report on Thursday. UBS Group decreased their price objective on Murphy Oil from $28.00 to $23.00 and set a "neutral" rating for the company in a report on Monday, April 7th. Finally, KeyCorp restated a "sector weight" rating on shares of Murphy Oil in a report on Monday, April 21st. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $29.08.

Murphy Oil Stock Performance

The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.69 and a current ratio of 0.76. The stock has a fifty day simple moving average of $22.22 and a two-hundred day simple moving average of $25.74. The stock has a market capitalization of $3.30 billion, a price-to-earnings ratio of 8.89 and a beta of 1.09.

Murphy Oil (NYSE:MUR - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The oil and gas producer reported $0.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.48 by $0.08. The company had revenue of $665.71 million for the quarter, compared to analysts' expectations of $684.89 million. Murphy Oil had a net margin of 13.47% and a return on equity of 6.81%. The business's revenue was down 15.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.85 EPS. Analysts forecast that Murphy Oil Corporation will post 2.94 earnings per share for the current fiscal year.

Murphy Oil Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 16th were given a $0.325 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $1.30 annualized dividend and a yield of 5.63%. Murphy Oil's payout ratio is 50.00%.

Institutional Investors Weigh In On Murphy Oil

Several large investors have recently modified their holdings of the stock. Voya Investment Management LLC increased its stake in shares of Murphy Oil by 5.6% during the 1st quarter. Voya Investment Management LLC now owns 348,267 shares of the oil and gas producer's stock worth $9,891,000 after purchasing an additional 18,460 shares during the last quarter. Strs Ohio purchased a new position in Murphy Oil in the 1st quarter valued at approximately $233,000. Intech Investment Management LLC grew its stake in Murphy Oil by 27.9% in the 1st quarter. Intech Investment Management LLC now owns 162,534 shares of the oil and gas producer's stock valued at $4,616,000 after buying an additional 35,429 shares in the last quarter. Bayforest Capital Ltd grew its stake in Murphy Oil by 4,974.8% in the 1st quarter. Bayforest Capital Ltd now owns 14,514 shares of the oil and gas producer's stock valued at $412,000 after buying an additional 14,228 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Murphy Oil by 22.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 249,094 shares of the oil and gas producer's stock valued at $7,074,000 after buying an additional 45,841 shares in the last quarter. Hedge funds and other institutional investors 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.