Edgestream Partners L.P. purchased a new position in shares of Murphy Oil Co. (NYSE:MUR) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 39,817 shares of the oil and gas producer’s stock, valued at approximately $981,000.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Sawtooth Solutions LLC raised its position in shares of Murphy Oil by 133.1% in the 2nd quarter. Sawtooth Solutions LLC now owns 28,459 shares of the oil and gas producer’s stock valued at $702,000 after purchasing an additional 16,252 shares in the last quarter. Commerce Bank increased its holdings in shares of Murphy Oil by 6.3% in the 2nd quarter. Commerce Bank now owns 16,871 shares of the oil and gas producer’s stock valued at $416,000 after acquiring an additional 1,000 shares during the last quarter. Wells Fargo & Company MN increased its holdings in shares of Murphy Oil by 37.3% in the 2nd quarter. Wells Fargo & Company MN now owns 240,102 shares of the oil and gas producer’s stock valued at $5,918,000 after acquiring an additional 65,182 shares during the last quarter. Caymus Capital Partners L.P. bought a new stake in shares of Murphy Oil in the 2nd quarter valued at approximately $44,387,000. Finally, State Board of Administration of Florida Retirement System increased its holdings in shares of Murphy Oil by 1.7% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 261,770 shares of the oil and gas producer’s stock valued at $6,453,000 after acquiring an additional 4,323 shares during the last quarter. 90.23% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Walentin Mirosh sold 1,360 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $18.52, for a total value of $25,187.20. Following the completion of the sale, the director now owns 25,365 shares in the company, valued at $469,759.80. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 6.46% of the company’s stock.
A number of equities research analysts have recently weighed in on the company. Evercore ISI assumed coverage on Murphy Oil in a report on Thursday, May 30th. They issued an “in-line” rating and a $30.00 price target for the company. Wells Fargo & Co lowered their price objective on Murphy Oil from $28.00 to $23.00 and set a “market perform” rating for the company in a research note on Friday, September 6th. Capital One Financial began coverage on Murphy Oil in a research note on Wednesday, July 10th. They set an “overweight” rating and a $37.00 price objective for the company. Credit Suisse Group lowered their price objective on Murphy Oil from $30.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday, August 9th. Finally, MKM Partners set a $38.00 price objective on Murphy Oil and gave the stock a “buy” rating in a research note on Monday, August 12th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $31.71.
NYSE:MUR opened at $20.60 on Friday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.21 and a current ratio of 1.25. The stock has a market cap of $3.38 billion, a price-to-earnings ratio of 16.35 and a beta of 2.02. The business has a fifty day moving average of $20.11 and a 200-day moving average of $25.04. Murphy Oil Co. has a 1 year low of $17.04 and a 1 year high of $36.53.
Murphy Oil (NYSE:MUR) last announced its quarterly earnings data on Thursday, August 8th. The oil and gas producer reported $0.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.03. The business had revenue of $709.00 million during the quarter, compared to analyst estimates of $612.71 million. Murphy Oil had a return on equity of 3.48% and a net margin of 12.37%. The company’s revenue was up 81.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.36 earnings per share. On average, equities research analysts predict that Murphy Oil Co. will post 0.88 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 19th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $1.00 annualized dividend and a dividend yield of 4.85%. Murphy Oil’s dividend payout ratio (DPR) is 79.37%.
About Murphy Oil
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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