nVerses Capital LLC Buys New Position in Murphy Oil Co. (NYSE:MUR)

nVerses Capital LLC purchased a new position in shares of Murphy Oil Co. (NYSE:MUR) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 10,500 shares of the oil and gas producer’s stock, valued at approximately $354,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wedge Capital Management L L P NC raised its stake in Murphy Oil by 641.7% during the third quarter. Wedge Capital Management L L P NC now owns 672,717 shares of the oil and gas producer’s stock worth $22,697,000 after buying an additional 582,020 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of Murphy Oil by 90.5% in 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 acquiring an additional 518,904 shares in the last quarter. Squarepoint Ops LLC grew its stake in Murphy Oil by 92.1% during the second quarter. Squarepoint Ops LLC now owns 687,254 shares of the oil and gas producer’s stock worth $28,342,000 after purchasing an additional 329,521 shares during the period. Dimensional Fund Advisors LP increased its holdings in Murphy Oil by 3.3% in the second quarter. Dimensional Fund Advisors LP now owns 8,254,125 shares of the oil and gas producer’s stock worth $340,400,000 after purchasing an additional 262,256 shares in the last quarter. Finally, HITE Hedge Asset Management LLC boosted its holdings in shares of Murphy Oil by 83.3% during the 2nd quarter. HITE Hedge Asset Management LLC now owns 545,926 shares of the oil and gas producer’s stock worth $22,514,000 after buying an additional 248,134 shares in the last quarter. Institutional investors and hedge funds own 78.31% of the company’s stock.

Murphy Oil Trading Up 1.2 %

NYSE MUR opened at $33.14 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.76 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $5.06 billion, a P/E ratio of 9.23 and a beta of 2.20. The business has a fifty day simple moving average of $35.67 and a 200 day simple moving average of $40.10. Murphy Oil Co. has a 12 month low of $32.53 and a 12 month high of $49.14.

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

Murphy Oil Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.62%. Murphy Oil’s payout ratio is presently 33.43%.

Wall Street Analyst Weigh In

MUR has been the subject of several research analyst reports. Truist Financial lowered their price objective on shares of Murphy Oil from $55.00 to $42.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Wells Fargo & Company dropped their price objective on shares of Murphy Oil from $41.00 to $39.00 and set an “equal weight” rating on the stock in a report on Friday, September 27th. JPMorgan Chase & Co. reduced their target price on Murphy Oil from $47.00 to $39.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. The Goldman Sachs Group dropped their price target on Murphy Oil from $44.00 to $39.00 and set a “neutral” rating on the stock in a research note on Monday, October 7th. Finally, Barclays reduced their price objective on Murphy Oil from $46.00 to $38.00 and set an “equal weight” rating for the company in a research note on Thursday, October 3rd. Ten analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Murphy Oil has a consensus rating of “Hold” and an average price target of $41.17.

About Murphy Oil

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.