Algert Global LLC Sells 80,770 Shares of Murphy Oil Co. (NYSE:MUR)

Algert Global LLC lowered its stake in shares of Murphy Oil Co. (NYSE:MUR) by 44.6% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 100,253 shares of the oil and gas producer’s stock after selling 80,770 shares during the period. Algert Global LLC’s holdings in Murphy Oil were worth $3,383,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its holdings in Murphy Oil by 0.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 101,225 shares of the oil and gas producer’s stock valued at $4,626,000 after purchasing an additional 939 shares during the last quarter. Caxton Associates LP purchased a new stake in shares of Murphy Oil during the 1st quarter valued at approximately $237,000. Tidal Investments LLC boosted its holdings in Murphy Oil by 11.1% in the 1st quarter. Tidal Investments LLC now owns 22,872 shares of the oil and gas producer’s stock worth $1,045,000 after buying an additional 2,289 shares during the period. EMC Capital Management grew its stake in Murphy Oil by 166.1% in the 1st quarter. EMC Capital Management now owns 8,008 shares of the oil and gas producer’s stock valued at $366,000 after buying an additional 4,999 shares in the last quarter. Finally, Atria Investments Inc bought a new stake in Murphy Oil during the 1st quarter valued at $1,859,000. Hedge funds and other institutional investors own 78.31% of the company’s stock.

Murphy Oil Trading Down 0.8 %

NYSE MUR opened at $33.12 on Tuesday. The company has a quick ratio of 0.65, a current ratio of 0.71 and a debt-to-equity ratio of 0.24. The stock’s 50-day simple moving average is $33.60 and its two-hundred day simple moving average is $37.41. Murphy Oil Co. has a twelve month low of $30.99 and a twelve month high of $49.14. The company has a market capitalization of $4.83 billion, a price-to-earnings ratio of 10.68 and a beta of 2.21.

Murphy Oil (NYSE:MUR) last released its earnings results on Thursday, November 7th. The oil and gas producer reported $0.74 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.02). Murphy Oil had a return on equity of 9.22% and a net margin of 14.78%. The firm had revenue of $758.33 million during the quarter, compared to the consensus estimate of $759.74 million. During the same quarter in the previous year, the firm earned $1.59 EPS. The business’s quarterly revenue was down 21.0% compared to the same quarter last year. Research analysts forecast that Murphy Oil Co. will post 3.23 EPS for the current fiscal year.

Murphy Oil Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be given a $0.30 dividend. The ex-dividend date is Monday, November 18th. This represents a $1.20 annualized dividend and a yield of 3.62%. Murphy Oil’s payout ratio is currently 38.71%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on MUR. KeyCorp reduced their price target on Murphy Oil from $54.00 to $50.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Truist Financial reduced their target price on Murphy Oil from $55.00 to $42.00 and set a “buy” rating for the company in a report on Monday, September 30th. Barclays lowered their price target on shares of Murphy Oil from $38.00 to $37.00 and set an “equal weight” rating on the stock in a report on Monday, November 11th. Morgan Stanley reduced their price objective on shares of Murphy Oil from $43.00 to $39.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th. Finally, BMO Capital Markets lowered their target price on shares of Murphy Oil from $42.00 to $40.00 and set a “market perform” rating on the stock in a research note on Friday, October 4th. Ten equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $40.92.

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.