Murphy Oil has entered into an agreement with Walmart to add gas stations to over 200 Walmart Supercenters. This project, which is expected to occur within the next three years, will provide fuel stations to locations in the Midwest and Southern United States.
Murphy Oil CEO Steven A. Cossé noted, “this agreement represents a significant step forward in our long-term relationship with Wal-Mart as we pursue our business plan to separate the U.S. retail business into a stand-alone entity.”
Wal-Mart shares were mostly flat during premarket trading Wednesday. The stock is up 14.7% YTD.
The Bottom Line
Shares of Wal-Mart Stores (WMT) have a 2.32% dividend yield, based on Monday’s closing stock price of $68.57. The stock has technical support in the $65-$66 price area. If the shares can firm up, we see overhead resistance around the $70-$72 price levels.
Wal-Mart Stores, Inc.(WMT) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.