Gilliland Jeter Wealth Management LLC Grows Stake in Murphy Oil Co. (NYSE:MUR)

Gilliland Jeter Wealth Management LLC grew its holdings in shares of Murphy Oil Co. (NYSE:MUR) by 33.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,165 shares of the oil and gas producer’s stock after buying an additional 1,300 shares during the period. Gilliland Jeter Wealth Management LLC’s holdings in Murphy Oil were worth $174,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Raymond James & Associates lifted its position in shares of Murphy Oil by 16.8% in the 3rd quarter. Raymond James & Associates now owns 142,138 shares of the oil and gas producer’s stock worth $4,796,000 after purchasing an additional 20,396 shares during the period. Compass Wealth Management LLC purchased a new position in shares of Murphy Oil during the 3rd quarter worth approximately $42,000. nVerses Capital LLC purchased a new position in shares of Murphy Oil in the 3rd quarter valued at approximately $354,000. Creative Planning boosted its position in shares of Murphy Oil by 11.2% during the third quarter. Creative Planning now owns 41,014 shares of the oil and gas producer’s stock valued at $1,384,000 after purchasing an additional 4,122 shares in the last quarter. Finally, Wedge Capital Management L L P NC grew its stake in Murphy Oil by 641.7% in the third quarter. Wedge Capital Management L L P NC now owns 672,717 shares of the oil and gas producer’s stock worth $22,697,000 after purchasing an additional 582,020 shares during the period. Institutional investors own 78.31% of the company’s stock.

Analysts Set New Price Targets

MUR has been the subject of a number of recent research reports. BMO Capital Markets lowered their price target on shares of Murphy Oil from $42.00 to $40.00 and set a “market perform” rating for the company in a research report on Friday, October 4th. UBS Group decreased their target price on shares of Murphy Oil from $45.00 to $39.00 and set a “neutral” rating for the company in a research note on Wednesday, September 18th. Scotiabank dropped their target price on Murphy Oil from $47.00 to $36.00 and set a “sector perform” rating on the stock in a report on Thursday, October 10th. Truist Financial decreased their target price on shares of Murphy Oil from $55.00 to $42.00 and set a “buy” rating for the company in a report on Monday, September 30th. Finally, Barclays dropped their price objective on Murphy Oil from $46.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 3rd. Ten investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $41.17.

Murphy Oil Trading Down 0.3 %

Shares of MUR stock opened at $33.03 on Monday. The stock’s 50-day moving average price is $35.60 and its 200-day moving average price is $39.90. Murphy Oil Co. has a 12-month low of $32.53 and a 12-month high of $49.14. The stock has a market capitalization of $5.04 billion, a price-to-earnings ratio of 9.20 and a beta of 2.20. The company has a current ratio of 0.82, a quick ratio of 0.76 and a debt-to-equity ratio of 0.23.

Murphy Oil (NYSE:MUR) last posted its earnings results on Thursday, August 8th. The oil and gas producer reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.08. Murphy Oil had a return on equity of 11.68% and a net margin of 17.32%. The firm had revenue of $802.80 million during the quarter, compared to the consensus estimate of $813.97 million. During the same period in the prior year, the company earned $0.79 EPS. The company’s quarterly revenue was down 1.4% compared to the same quarter last year. Equities research analysts predict that Murphy Oil Co. will post 3.47 EPS for the current fiscal year.

Murphy Oil Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be issued a $0.30 dividend. The ex-dividend date is Monday, November 18th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.63%. Murphy Oil’s dividend payout ratio (DPR) is presently 33.43%.

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.