Short Interest in Murphy Oil Co. (NYSE:MUR) Grows By 39.4%

Murphy Oil Co. (NYSE:MUR) saw a large growth in short interest in June. As of June 15th, there was short interest totalling 20,213,000 shares, a growth of 39.4% from the May 15th total of 14,500,500 shares. Based on an average daily trading volume, of 2,340,000 shares, the days-to-cover ratio is presently 8.6 days. Approximately 12.4% of the shares of the stock are sold short.

MUR traded up $0.53 during trading on Wednesday, reaching $24.76. 1,843,981 shares of the company’s stock were exchanged, compared to its average volume of 2,165,218. Murphy Oil has a one year low of $21.51 and a one year high of $36.53. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $4.30 billion, a PE ratio of 19.65 and a beta of 2.07. The stock has a fifty day moving average price of $25.36.

Murphy Oil (NYSE:MUR) last posted its earnings results on Thursday, May 2nd. The oil and gas producer reported $0.15 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.05. Murphy Oil had a net margin of 10.99% and a return on equity of 4.10%. The firm had revenue of $591.00 million for the quarter, compared to analyst estimates of $557.15 million. During the same period in the previous year, the firm posted $0.23 EPS. The company’s revenue for the quarter was up 57.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Murphy Oil will post 1.55 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 20th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date of this dividend was Friday, May 17th. Murphy Oil’s payout ratio is 79.37%.

MUR has been the subject of a number of research analyst reports. ValuEngine cut shares of Murphy Oil from a “hold” rating to a “sell” rating in a research report on Wednesday, May 1st. Zacks Investment Research upgraded shares of Murphy Oil from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a research report on Tuesday, April 16th. Goldman Sachs Group upgraded shares of Murphy Oil from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $29.00 to $31.50 in a research report on Friday, April 12th. Morgan Stanley set a $27.00 price objective on shares of Murphy Oil and gave the stock a “sell” rating in a research report on Thursday, May 16th. Finally, Evercore ISI initiated coverage on shares of Murphy Oil in a research report on Thursday, May 30th. They set an “in-line” rating and a $30.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $33.81.

In other news, VP John B. Gardner sold 8,364 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $28.94, for a total value of $242,054.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Thomas J. Mireles sold 7,400 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $27.60, for a total transaction of $204,240.00. Following the completion of the transaction, the insider now owns 21,368 shares of the company’s stock, valued at $589,756.80. The disclosure for this sale can be found here. 6.46% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. Quadrant Capital Group LLC boosted its stake in shares of Murphy Oil by 632.3% in the 1st quarter. Quadrant Capital Group LLC now owns 2,065 shares of the oil and gas producer’s stock valued at $58,000 after purchasing an additional 1,783 shares during the last quarter. Murphy Pohlad Asset Management LLC bought a new stake in shares of Murphy Oil in the 4th quarter valued at $117,000. Penserra Capital Management LLC boosted its stake in shares of Murphy Oil by 247.7% in the 1st quarter. Penserra Capital Management LLC now owns 4,729 shares of the oil and gas producer’s stock valued at $138,000 after purchasing an additional 3,369 shares during the last quarter. Investors Research Corp bought a new stake in shares of Murphy Oil in the 1st quarter valued at $149,000. Finally, MHI Funds LLC bought a new stake in shares of Murphy Oil in the 1st quarter valued at $192,000. 85.65% of the stock is currently owned by hedge funds and other institutional investors.

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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