Retirement Systems of Alabama Sells 1,432 Shares of Murphy Oil Co. (NYSE:MUR)

Retirement Systems of Alabama reduced its position in Murphy Oil Co. (NYSE:MUR) by 0.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 549,196 shares of the oil and gas producer’s stock after selling 1,432 shares during the quarter. Retirement Systems of Alabama owned approximately 0.36% of Murphy Oil worth $23,429,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of MUR. Bruce G. Allen Investments LLC purchased a new position in shares of Murphy Oil during the fourth quarter valued at about $29,000. Headinvest LLC purchased a new stake in Murphy Oil during the third quarter valued at $70,000. GAMMA Investing LLC purchased a new stake in Murphy Oil during the fourth quarter valued at $163,000. Forum Financial Management LP bought a new position in Murphy Oil during the third quarter valued at $209,000. Finally, Orion Portfolio Solutions LLC purchased a new position in shares of Murphy Oil in the 3rd quarter worth $213,000. Institutional investors own 78.31% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on MUR shares. JPMorgan Chase & Co. increased their price target on shares of Murphy Oil from $51.00 to $52.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. Piper Sandler raised their price target on Murphy Oil from $49.00 to $55.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. UBS Group reduced their target price on shares of Murphy Oil from $45.00 to $43.00 and set a “neutral” rating on the stock in a research note on Monday, January 29th. Scotiabank cut shares of Murphy Oil from a “sector outperform” rating to a “sector perform” rating and lifted their price target for the stock from $46.00 to $50.00 in a research note on Thursday, April 11th. Finally, Barclays assumed coverage on shares of Murphy Oil in a research report on Wednesday, April 10th. They issued an “equal weight” rating and a $54.00 price objective on the stock. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $50.64.

Insider Transactions at Murphy Oil

In related news, VP Louis W. Utsch sold 30,260 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $39.94, for a total value of $1,208,584.40. Following the completion of the transaction, the vice president now owns 9,504 shares of the company’s stock, valued at $379,589.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, VP Louis W. Utsch sold 30,260 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $39.94, for a total transaction of $1,208,584.40. Following the sale, the vice president now owns 9,504 shares of the company’s stock, valued at $379,589.76. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Paul D. Vaughan sold 6,000 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $39.61, for a total transaction of $237,660.00. Following the completion of the transaction, the vice president now owns 11,877 shares of the company’s stock, valued at $470,447.97. The disclosure for this sale can be found here. In the last quarter, insiders sold 156,260 shares of company stock valued at $6,322,644. Company insiders own 5.95% of the company’s stock.

Murphy Oil Price Performance

MUR opened at $46.83 on Tuesday. The company has a current ratio of 0.89, a quick ratio of 0.82 and a debt-to-equity ratio of 0.24. The business’s fifty day simple moving average is $43.92 and its 200-day simple moving average is $42.68. The company has a market capitalization of $7.14 billion, a price-to-earnings ratio of 11.10 and a beta of 2.21. Murphy Oil Co. has a 12-month low of $32.80 and a 12-month high of $49.14.

Murphy Oil Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Friday, May 17th. This represents a $1.20 annualized dividend and a dividend yield of 2.56%. Murphy Oil’s dividend payout ratio is currently 28.44%.

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.