Meadow Creek Investment Management LLC lowered its position in Murphy Oil Co. (NYSE:MUR) by 37.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 165,954 shares of the oil and gas producer’s stock after selling 100,334 shares during the period. Meadow Creek Investment Management LLC owned about 0.10% of Murphy Oil worth $4,091,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Penserra Capital Management LLC raised its stake in 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 acquiring an additional 3,369 shares during the period. Oppenheimer Asset Management Inc. boosted its position in shares of Murphy Oil by 10.8% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 5,768 shares of the oil and gas producer’s stock worth $142,000 after purchasing an additional 560 shares in the last quarter. Qube Research & Technologies Ltd bought a new position in shares of Murphy Oil during the 2nd quarter worth about $219,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in shares of Murphy Oil in the 1st quarter valued at about $250,000. Finally, Strs Ohio increased its position in Murphy Oil by 40.8% in the 2nd quarter. Strs Ohio now owns 11,297 shares of the oil and gas producer’s stock valued at $278,000 after buying an additional 3,274 shares in the last quarter. Institutional investors own 90.23% of the company’s stock.
MUR has been the topic of several recent research reports. Credit Suisse Group cut their price target on Murphy Oil from $30.00 to $25.00 and set a “neutral” rating on the stock in a report on Friday, August 9th. MKM Partners set a $38.00 price objective on Murphy Oil and gave the company a “buy” rating in a report on Monday, August 12th. Evercore ISI assumed coverage on Murphy Oil in a report on Thursday, May 30th. They set an “in-line” rating and a $30.00 price objective for the company. Capital One Financial began coverage on Murphy Oil in a research report on Wednesday, July 10th. They set an “overweight” rating and a $37.00 target price on the stock. Finally, Stephens set a $40.00 target price on Murphy Oil and gave the stock a “hold” rating in a report on Friday, May 17th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the stock. Murphy Oil presently has a consensus rating of “Hold” and an average target price of $31.71.
Murphy Oil (NYSE:MUR) last announced its earnings results on Thursday, August 8th. The oil and gas producer reported $0.21 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.03. Murphy Oil had a return on equity of 3.48% and a net margin of 12.37%. The company had revenue of $709.00 million for the quarter, compared to analysts’ expectations of $612.71 million. During the same quarter in the previous year, the firm earned $0.36 earnings per share. Murphy Oil’s quarterly revenue was up 81.8% on a year-over-year basis. Equities analysts anticipate that Murphy Oil Co. will post 0.88 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 19th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.80%. The ex-dividend date of this dividend was Friday, August 16th. Murphy Oil’s payout ratio is currently 79.37%.
In other Murphy Oil news, Director Walentin Mirosh sold 1,360 shares of Murphy Oil stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $18.52, for a total transaction of $25,187.20. Following the transaction, the director now directly owns 25,365 shares of the company’s stock, valued at approximately $469,759.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.46% of the stock is currently owned by company insiders.
Murphy Oil Company Profile
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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