Murphy Oil Co. (NYSE:MUR) Shares Acquired by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. boosted its holdings in Murphy Oil Co. (NYSE:MUR) by 17.4% during the 3rd quarter, Holdings Channel reports. The fund owned 195,183 shares of the oil and gas producer’s stock after acquiring an additional 28,867 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Murphy Oil were worth $6,585,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in MUR. Covestor Ltd raised its position in shares of Murphy Oil by 266.8% during the 3rd quarter. Covestor Ltd now owns 741 shares of the oil and gas producer’s stock worth $25,000 after buying an additional 539 shares in the last quarter. Mather Group LLC. raised its holdings in Murphy Oil by 1,015.7% during the second quarter. Mather Group LLC. now owns 569 shares of the oil and gas producer’s stock worth $26,000 after purchasing an additional 518 shares in the last quarter. Reston Wealth Management LLC acquired a new stake in Murphy Oil in the third quarter worth approximately $27,000. Compass Wealth Management LLC bought a new position in Murphy Oil during the 3rd quarter valued at $42,000. Finally, Bruce G. Allen Investments LLC increased its position in shares of Murphy Oil by 106.5% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 1,470 shares of the oil and gas producer’s stock valued at $50,000 after purchasing an additional 758 shares during the period. Institutional investors own 78.31% of the company’s stock.

Wall Street Analyst Weigh In

MUR has been the subject of several research reports. BMO Capital Markets decreased their target price on Murphy Oil from $42.00 to $40.00 and set a “market perform” rating for the company in a research note on Friday, October 4th. Piper Sandler cut their price target on shares of Murphy Oil from $44.00 to $43.00 and set an “overweight” rating for the company in a report on Tuesday, October 15th. Morgan Stanley lowered their price objective 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. UBS Group cut 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. Finally, JPMorgan Chase & Co. decreased their price target on shares of Murphy Oil from $47.00 to $39.00 and set a “neutral” rating on the stock in a research report on Thursday, September 12th. Ten equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $41.08.

Murphy Oil Price Performance

MUR opened at $33.33 on Friday. Murphy Oil Co. has a 12-month low of $30.99 and a 12-month high of $49.14. 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 firm has a market capitalization of $4.86 billion, a P/E ratio of 10.75 and a beta of 2.21. The stock has a fifty day moving average of $33.78 and a 200-day moving average of $38.09.

Murphy Oil (NYSE:MUR) last announced its quarterly earnings data on Thursday, November 7th. The oil and gas producer reported $0.74 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.02). The business had revenue of $758.33 million for the quarter, compared to analyst estimates 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 quarter in the previous year, the business posted $1.59 earnings per share. Equities analysts forecast that Murphy Oil Co. will post 3.33 EPS for the current fiscal year.

Murphy Oil Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.20 annualized dividend and a yield of 3.60%. Murphy Oil’s dividend payout ratio is presently 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.