The Manufacturers Life Insurance Company reduced its position in shares of Murphy Oil Co. (NYSE:MUR – Get Rating) by 2.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 172,622 shares of the oil and gas producer’s stock after selling 4,690 shares during the quarter. The Manufacturers Life Insurance Company owned 0.11% of Murphy Oil worth $6,071,000 at the end of the most recent reporting period.
→ The Next Big Crisis Is Here (From Porter & Company)
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Lazard Asset Management LLC bought a new position in shares of Murphy Oil in the second quarter valued at about $25,000. CoreCap Advisors LLC bought a new position in shares of Murphy Oil in the second quarter valued at about $64,000. Exchange Traded Concepts LLC raised its position in shares of Murphy Oil by 13.1% in the third quarter. Exchange Traded Concepts LLC now owns 2,193 shares of the oil and gas producer’s stock valued at $77,000 after purchasing an additional 254 shares during the period. Van ECK Associates Corp bought a new position in shares of Murphy Oil in the third quarter valued at about $78,000. Finally, CWM LLC raised its position in shares of Murphy Oil by 18.0% in the third quarter. CWM LLC now owns 2,387 shares of the oil and gas producer’s stock valued at $84,000 after purchasing an additional 364 shares during the period. 77.55% of the stock is owned by institutional investors.
Murphy Oil Trading Down 2.0 %
Shares of Murphy Oil stock opened at $44.45 on Monday. The company has a market capitalization of $6.91 billion, a price-to-earnings ratio of 7.26 and a beta of 2.41. The company has a quick ratio of 0.74, a current ratio of 0.77 and a debt-to-equity ratio of 0.35. Murphy Oil Co. has a 12-month low of $25.97 and a 12-month high of $51.28. The firm’s 50-day moving average price is $43.26 and its two-hundred day moving average price is $40.84.
Murphy Oil (NYSE:MUR – Get Rating) last posted its earnings results on Thursday, January 26th. The oil and gas producer reported $1.10 EPS for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.08). The company had revenue of $975.20 million during the quarter, compared to the consensus estimate of $835.62 million. Murphy Oil had a return on equity of 18.82% and a net margin of 24.54%. The firm’s revenue was up 32.0% compared to the same quarter last year. During the same period last year, the company posted $0.40 EPS. On average, analysts forecast that Murphy Oil Co. will post 6.98 earnings per share for the current fiscal year.
Murphy Oil Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 1st. Stockholders of record on Monday, February 13th will be issued a $0.275 dividend. The ex-dividend date is Friday, February 10th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.47%. This is a boost from Murphy Oil’s previous quarterly dividend of $0.25. Murphy Oil’s dividend payout ratio is 17.97%.
Insider Transactions at Murphy Oil
In related news, VP Maria A. Martinez sold 7,500 shares of the firm’s stock in a transaction that occurred on Friday, November 11th. The shares were sold at an average price of $50.59, for a total value of $379,425.00. Following the completion of the transaction, the vice president now owns 7,531 shares in the company, valued at approximately $380,993.29. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Murphy Oil news, VP Maria A. Martinez sold 7,500 shares of the firm’s stock in a transaction that occurred on Friday, November 11th. The shares were sold at an average price of $50.59, for a total transaction of $379,425.00. Following the completion of the transaction, the vice president now owns 7,531 shares in the company, valued at approximately $380,993.29. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Thomas J. Mireles sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 15th. The stock was sold at an average price of $49.06, for a total transaction of $735,900.00. Following the transaction, the chief financial officer now owns 39,894 shares of the company’s stock, valued at approximately $1,957,199.64. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 210,754 shares of company stock valued at $10,615,495. 6.20% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
Several equities analysts have recently weighed in on the stock. Jefferies Financial Group assumed coverage on shares of Murphy Oil in a research report on Wednesday, October 19th. They issued a “hold” rating and a $46.00 price objective on the stock. Morgan Stanley decreased their price target on shares of Murphy Oil from $47.00 to $45.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 24th. The Goldman Sachs Group upped their price target on shares of Murphy Oil from $44.00 to $50.00 and gave the company a “neutral” rating in a research note on Wednesday, November 23rd. JPMorgan Chase & Co. upgraded shares of Murphy Oil from a “neutral” rating to an “overweight” rating and set a $56.00 price target on the stock in a research note on Monday, December 5th. Finally, Piper Sandler upped their price target on shares of Murphy Oil from $62.00 to $68.00 and gave the company an “overweight” rating in a research note on Thursday, November 17th. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $50.00.
Murphy Oil Company Profile
Murphy Oil Corp. is a holding company, which engages in the exploration and production of oil and natural gas. It operates through the Exploration and Production and Corporate and Other segment. The Exploration and Production segment includes the United States, Canada, and all other countries. The Corporate and Other segment focuses on interest income, other gains and losses, interest expense, and unallocated overhead.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to email@example.com.
Before you consider Murphy Oil, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Murphy Oil wasn’t on the list.
While Murphy Oil currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.
Leave a Comment