Oppenheimer Asset Management Inc. Grows Stake in Murphy Oil Co. (NYSE:MUR)

Oppenheimer Asset Management Inc. grew its stake in shares of Murphy Oil Co. (NYSE:MUR) by 17.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 195,183 shares of the oil and gas producer’s stock after purchasing an additional 28,867 shares during the quarter. Oppenheimer Asset Management Inc. owned 0.13% of Murphy Oil worth $6,585,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Dimensional Fund Advisors LP lifted its position in Murphy Oil by 3.3% during 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 acquiring an additional 262,256 shares in the last quarter. Earnest Partners LLC lifted its position in shares of Murphy Oil by 7.7% during 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 purchasing an additional 195,906 shares in the last quarter. Bank of New York Mellon Corp boosted its stake 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 during the period. International Assets Investment Management LLC grew its holdings in Murphy Oil by 3,191.6% during the 3rd quarter. International Assets Investment Management LLC now owns 1,627,268 shares of the oil and gas producer’s stock valued at $54,904,000 after purchasing an additional 1,577,831 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its stake 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 buying an additional 518,904 shares during the period. Hedge funds and other institutional investors own 78.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MUR. UBS Group decreased their price objective on shares of Murphy Oil from $45.00 to $39.00 and set a “neutral” rating for the company in a research report on Wednesday, September 18th. Barclays reduced their price target on Murphy Oil from $38.00 to $37.00 and set an “equal weight” rating for the company in a report on Monday. KeyCorp dropped their price objective on Murphy Oil from $54.00 to $50.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Truist Financial cut their target price on Murphy Oil from $55.00 to $42.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Finally, Piper Sandler decreased their price target on shares of Murphy Oil from $44.00 to $43.00 and set an “overweight” rating for the company in a research report on Tuesday, October 15th. Ten investment 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.com, the company has an average rating of “Hold” and a consensus price target of $41.08.

Murphy Oil Trading Up 2.7 %

NYSE MUR opened at $33.33 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.65 and a current ratio of 0.71. Murphy Oil Co. has a one year low of $30.99 and a one year high of $49.14. The company has a 50-day simple moving average of $33.78 and a 200-day simple moving average of $38.09. The firm has a market capitalization of $4.86 billion, a PE ratio of 10.75 and a beta of 2.21.

Murphy Oil (NYSE:MUR) last issued its earnings results on Thursday, November 7th. The oil and gas producer reported $0.74 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.02). The company had revenue of $758.33 million during the quarter, compared to analyst estimates of $759.74 million. Murphy Oil had a net margin of 14.78% and a return on equity of 9.22%. The business’s revenue was down 21.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.59 earnings per share. On average, equities analysts forecast that Murphy Oil Co. will post 3.33 earnings per share for the current year.

Murphy Oil Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date is Monday, November 18th. Murphy Oil’s payout ratio is 38.71%.

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.