Analysts have recently updated their ratings and price targets for Murphy Oil Corporation (NYSE: MUR), a company engaged in oil and gas exploration and production. This comes as Murphy Oil announced a quarterly dividend, which was distributed on December 1, 2023. Shareholders of record as of November 17, 2023, received a dividend payment of $0.325 per share.
The annualized dividend amounts to $1.30, yielding approximately 4.0%. The ex-dividend date was also noted as November 17, 2023. Despite the dividend payout, the company has a payout ratio of 132.65%, indicating that it is distributing more than its earnings in dividends, a situation that may raise concerns about long-term sustainability.
Murphy Oil Corporation, along with its subsidiaries, operates across the United States, Canada, and other international markets. The firm specializes in the exploration and production of crude oil, natural gas, and natural gas liquids. Originally known as Murphy Corporation, it adopted the name Murphy Oil Corporation in 1964.
As analysts revise their outlook on the company, these changes can impact investor sentiment and market performance. For those interested in staying informed, MarketBeat.com offers a free daily email newsletter summarizing the latest news and ratings for Murphy Oil and other related companies.
Investors are encouraged to monitor these developments closely, as they may affect the company’s stock performance and overall financial health in the coming months.
