Gilliland Jeter Wealth Management LLC Grows Stock Position in Murphy Oil Co. (NYSE:MUR)

Gilliland Jeter Wealth Management LLC grew its position in shares of Murphy Oil Co. (NYSE:MUR) by 33.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,165 shares of the oil and gas producer’s stock after buying an additional 1,300 shares during the period. Gilliland Jeter Wealth Management LLC’s holdings in Murphy Oil were worth $174,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in MUR. Dimensional Fund Advisors LP boosted its holdings in Murphy Oil by 3.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 8,254,125 shares of the oil and gas producer’s stock worth $340,400,000 after buying an additional 262,256 shares during the period. Earnest Partners LLC boosted its holdings in shares of Murphy Oil by 7.7% in the first quarter. Earnest Partners LLC now owns 2,737,409 shares of the oil and gas producer’s stock worth $125,100,000 after acquiring an additional 195,906 shares during the period. Bank of New York Mellon Corp grew its position in shares of Murphy Oil by 5.3% in the second quarter. Bank of New York Mellon Corp now owns 2,138,985 shares of the oil and gas producer’s stock valued at $88,212,000 after purchasing an additional 107,462 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its stake in shares of Murphy Oil by 23.0% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 1,132,305 shares of the oil and gas producer’s stock valued at $51,746,000 after purchasing an additional 212,100 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in Murphy Oil by 90.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,092,374 shares of the oil and gas producer’s stock worth $45,050,000 after purchasing an additional 518,904 shares in the last quarter. Institutional investors own 78.31% of the company’s stock.

Wall Street Analyst Weigh In

MUR has been the topic of a number of recent analyst reports. Truist Financial lowered their price target on shares of Murphy Oil from $55.00 to $42.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Wells Fargo & Company dropped their price objective on Murphy Oil from $41.00 to $39.00 and set an “equal weight” rating for the company in a research note on Friday, September 27th. UBS Group decreased their target price on Murphy Oil from $45.00 to $39.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 18th. JPMorgan Chase & Co. dropped their price target on Murphy Oil from $47.00 to $39.00 and set a “neutral” rating for the company in a research report on Thursday, September 12th. Finally, Scotiabank decreased their price objective on shares of Murphy Oil from $47.00 to $36.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 10th. Ten investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Murphy Oil presently has an average rating of “Hold” and a consensus target price of $41.17.

Murphy Oil Stock Performance

NYSE MUR opened at $33.03 on Monday. The company has a 50-day simple moving average of $35.60 and a two-hundred day simple moving average of $39.90. Murphy Oil Co. has a 12-month low of $32.53 and a 12-month high of $49.14. The firm has a market cap of $5.04 billion, a price-to-earnings ratio of 9.20 and a beta of 2.20. The company has a quick ratio of 0.76, a current ratio of 0.82 and a debt-to-equity ratio of 0.23.

Murphy Oil (NYSE:MUR) last posted its quarterly earnings results on Thursday, August 8th. The oil and gas producer reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.08. Murphy Oil had a return on equity of 11.68% and a net margin of 17.32%. The business had revenue of $802.80 million for the quarter, compared to analyst estimates of $813.97 million. During the same period last year, the company earned $0.79 EPS. Murphy Oil’s revenue for the quarter was down 1.4% compared to the same quarter last year. On average, equities analysts forecast that Murphy Oil Co. will post 3.47 EPS for the current year.

Murphy Oil Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be given a dividend of $0.30 per share. The ex-dividend date is Monday, November 18th. This represents a $1.20 annualized dividend and a yield of 3.63%. Murphy Oil’s payout ratio is currently 33.43%.

Murphy Oil 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.