Investors Purchase High Volume of Put Options on Murphy Oil (MUR)

Murphy Oil Co. (NYSE:MUR) saw some unusual options trading activity on Wednesday. Traders bought 1,420 put options on the company. This is an increase of approximately 1,929% compared to the typical volume of 70 put options.

A number of research analysts have recently commented on the stock. Barclays upped their price objective on shares of Murphy Oil from $34.00 to $36.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 11th. Zacks Investment Research raised shares of Murphy Oil from a “hold” rating to a “strong-buy” rating and set a $38.00 price objective for the company in a research note on Tuesday, July 3rd. Morgan Stanley assumed coverage on shares of Murphy Oil in a research note on Thursday, July 12th. They set an “underweight” rating and a $26.00 price objective for the company. Mizuho assumed coverage on shares of Murphy Oil in a research note on Monday, July 23rd. They set an “underperform” rating and a $36.00 price objective for the company. Finally, Wells Fargo & Co dropped their price objective on shares of Murphy Oil from $36.00 to $34.00 and set a “market perform” rating for the company in a research note on Friday, August 10th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $33.30.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Qube Research & Technologies Ltd acquired a new position in shares of Murphy Oil in the 2nd quarter valued at approximately $126,000. Legacy Financial Advisors Inc. acquired a new position in shares of Murphy Oil in the 2nd quarter valued at approximately $135,000. North Star Investment Management Corp. acquired a new position in shares of Murphy Oil in the 2nd quarter valued at approximately $142,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in shares of Murphy Oil in the 2nd quarter valued at approximately $201,000. Finally, Foundation Resource Management Inc. acquired a new position in shares of Murphy Oil in the 2nd quarter valued at approximately $203,000. Hedge funds and other institutional investors own 89.61% of the company’s stock.

Shares of NYSE:MUR opened at $32.56 on Thursday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.46 and a quick ratio of 1.35. Murphy Oil has a 1 year low of $24.39 and a 1 year high of $35.98. The stock has a market cap of $5.63 billion, a PE ratio of -250.46 and a beta of 2.26.

Murphy Oil (NYSE:MUR) last issued its earnings results on Wednesday, August 8th. The oil and gas producer reported $0.36 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.01. Murphy Oil had a positive return on equity of 2.32% and a negative net margin of 6.19%. The business had revenue of $655.15 million during the quarter, compared to analysts’ expectations of $623.76 million. During the same quarter in the previous year, the business earned ($0.11) EPS. The company’s revenue for the quarter was up 37.2% on a year-over-year basis. sell-side analysts forecast that Murphy Oil will post 1.64 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 4th. Shareholders of record on Monday, August 13th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date of this dividend was Friday, August 10th. Murphy Oil’s dividend payout ratio is presently -769.23%.

Murphy Oil Company Profile

Murphy Oil Corporation operates as an oil and gas exploration and production company worldwide. 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. Murphy Oil Corporation was founded in 1950 and is headquartered in El Dorado, Arkansas.

Further Reading: Diversification

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