Neo Ivy Capital Management Grows Holdings in Murphy Oil Co. (NYSE:MUR)

Neo Ivy Capital Management lifted its holdings in Murphy Oil Co. (NYSE:MUR) by 597.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 71,154 shares of the oil and gas producer’s stock after buying an additional 60,954 shares during the quarter. Neo Ivy Capital Management’s holdings in Murphy Oil were worth $2,400,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its stake in Murphy Oil by 3.3% in 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 purchasing an additional 262,256 shares in the last quarter. Geode Capital Management LLC boosted its stake in Murphy Oil by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 3,548,711 shares of the oil and gas producer’s stock worth $119,755,000 after purchasing an additional 45,432 shares in the last quarter. Hotchkis & Wiley Capital Management LLC boosted its stake in Murphy Oil by 2.3% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 2,627,701 shares of the oil and gas producer’s stock worth $88,659,000 after purchasing an additional 58,220 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Murphy Oil by 5.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,138,985 shares of the oil and gas producer’s stock worth $88,212,000 after purchasing an additional 107,462 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its stake in Murphy Oil by 3,191.6% in the 3rd quarter. International Assets Investment Management LLC now owns 1,627,268 shares of the oil and gas producer’s stock worth $54,904,000 after purchasing an additional 1,577,831 shares in the last quarter. Institutional investors own 78.31% of the company’s stock.

Analyst Ratings Changes

MUR has been the topic of a number of analyst reports. Wells Fargo & Company dropped their price target on shares of Murphy Oil from $39.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Monday. Truist Financial lowered their target price on shares of Murphy Oil from $55.00 to $42.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. The Goldman Sachs Group lowered their target price on shares of Murphy Oil from $44.00 to $39.00 and set a “neutral” rating on the stock in a research note on Monday, October 7th. Mizuho lowered their target price on shares of Murphy Oil from $59.00 to $50.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. Finally, Morgan Stanley lowered their target price on shares of Murphy Oil from $43.00 to $39.00 and set an “equal weight” rating on the stock in a research note on Monday, September 16th. Ten analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $40.25.

Murphy Oil Price Performance

NYSE MUR opened at $30.27 on Wednesday. Murphy Oil Co. has a 52 week low of $29.84 and a 52 week high of $49.14. The firm has a market capitalization of $4.41 billion, a P/E ratio of 9.76 and a beta of 2.18. The company has a quick ratio of 0.65, a current ratio of 0.71 and a debt-to-equity ratio of 0.24. The company has a 50-day moving average price of $32.92 and a 200-day moving average price of $36.53.

Murphy Oil (NYSE:MUR) last released its earnings results on Thursday, November 7th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.02). The firm had revenue of $758.33 million during the quarter, compared to analysts’ expectations of $759.74 million. Murphy Oil had a return on equity of 9.22% and a net margin of 14.78%. The company’s revenue was down 21.0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.59 earnings per share. Equities research analysts anticipate that Murphy Oil Co. will post 3.15 earnings per share for the current year.

Murphy Oil Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 18th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.96%. The ex-dividend date was Monday, November 18th. Murphy Oil’s dividend 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.