Envestnet Asset Management Inc. lowered its position in Murphy Oil Co. (NYSE:MUR) by 55.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,601 shares of the oil and gas producer’s stock after selling 18,075 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Murphy Oil were worth $360,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in the company. Geode Capital Management LLC increased its position in Murphy Oil by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 1,980,418 shares of the oil and gas producer’s stock worth $46,321,000 after purchasing an additional 52,963 shares in the last quarter. United Asset Strategies Inc. increased its position in Murphy Oil by 3.8% during the 2nd quarter. United Asset Strategies Inc. now owns 18,599 shares of the oil and gas producer’s stock worth $458,000 after purchasing an additional 675 shares in the last quarter. Rubric Capital Management LP purchased a new stake in Murphy Oil during the 1st quarter worth about $5,860,000. State of New Jersey Common Pension Fund D increased its position in Murphy Oil by 12.6% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 100,000 shares of the oil and gas producer’s stock worth $2,465,000 after purchasing an additional 11,200 shares in the last quarter. Finally, First Trust Advisors LP increased its position in Murphy Oil by 64.1% during the 2nd quarter. First Trust Advisors LP now owns 471,302 shares of the oil and gas producer’s stock worth $11,618,000 after purchasing an additional 184,133 shares in the last quarter. Institutional investors and hedge funds own 90.23% of the company’s stock.
A number of analysts recently commented on the company. MKM Partners set a $38.00 price objective on Murphy Oil and gave the stock a “buy” rating in a research report on Monday, August 12th. Piper Jaffray Companies set a $38.00 price objective on Murphy Oil and gave the stock a “hold” rating in a research report on Friday, August 16th. Zacks Investment Research raised Murphy Oil from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a research note on Monday, June 10th. Stephens set a $40.00 price target on Murphy Oil and gave the stock a “hold” rating in a research note on Friday, May 17th. Finally, Credit Suisse Group decreased their price target on Murphy Oil from $30.00 to $25.00 and set a “neutral” rating on the stock in a research note on Friday, August 9th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $31.71.
In other news, Director Walentin Mirosh sold 1,360 shares of Murphy Oil stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $18.52, for a total value of $25,187.20. Following the transaction, the director now directly owns 25,365 shares of the company’s stock, valued at approximately $469,759.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 6.46% of the company’s stock.
Shares of NYSE:MUR opened at $20.60 on Friday. The stock’s 50-day moving average price is $20.11 and its two-hundred day moving average price is $25.04. The company has a current ratio of 1.25, a quick ratio of 1.21 and a debt-to-equity ratio of 0.91. Murphy Oil Co. has a 12-month low of $17.04 and a 12-month high of $36.53. The firm has a market cap of $3.46 billion, a price-to-earnings ratio of 20.93 and a beta of 2.02.
Murphy Oil (NYSE:MUR) last issued its quarterly earnings results on Thursday, August 8th. The oil and gas producer reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.03. Murphy Oil had a return on equity of 3.48% and a net margin of 12.37%. The firm had revenue of $709.00 million for the quarter, compared to analyst estimates of $612.71 million. During the same period last year, the company earned $0.36 EPS. The firm’s quarterly revenue was up 81.8% on a year-over-year basis. As a group, research analysts forecast that Murphy Oil Co. will post 0.88 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 19th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.85%. The ex-dividend date of this dividend was Friday, August 16th. Murphy Oil’s payout ratio is 79.37%.
Murphy Oil Company Profile
Murphy Oil Corporation operates as an oil and gas exploration and production company in the United States, Canada, Malaysia, 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.
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