Corigliano Investment Advisers LLC Takes $11.02 Million Position in Murphy Oil Co. (NYSE:MUR)

Corigliano Investment Advisers LLC purchased a new stake in shares of Murphy Oil Co. (NYSE:MUR - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 364,271 shares of the oil and gas producer's stock, valued at approximately $11,023,000. Murphy Oil makes up 5.3% of Corigliano Investment Advisers LLC's investment portfolio, making the stock its 6th largest position. Corigliano Investment Advisers LLC owned approximately 0.25% of Murphy Oil at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Huntington National Bank boosted its holdings in shares of Murphy Oil by 342.8% in the 4th quarter. Huntington National Bank now owns 828 shares of the oil and gas producer's stock valued at $25,000 after buying an additional 641 shares during the period. GeoWealth Management LLC purchased a new position in shares of Murphy Oil in the fourth quarter worth approximately $39,000. Lindbrook Capital LLC increased its position in shares of Murphy Oil by 60.5% in the fourth quarter. Lindbrook Capital LLC now owns 1,441 shares of the oil and gas producer's stock worth $44,000 after acquiring an additional 543 shares in the last quarter. Headlands Technologies LLC grew its position in Murphy Oil by 32.9% during the fourth quarter. Headlands Technologies LLC now owns 1,903 shares of the oil and gas producer's stock valued at $58,000 after purchasing an additional 471 shares in the last quarter. Finally, Jones Financial Companies Lllp grew its position in Murphy Oil by 32.9% during the fourth quarter. Jones Financial Companies Lllp now owns 2,284 shares of the oil and gas producer's stock valued at $69,000 after purchasing an additional 565 shares in the last quarter. 78.31% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on MUR. Roth Capital set a $37.00 price objective on shares of Murphy Oil in a research note on Thursday, January 23rd. Scotiabank decreased their price objective on shares of Murphy Oil from $36.00 to $22.00 and set a "sector perform" rating on the stock in a report on Friday, April 11th. JPMorgan Chase & Co. cut their price target on shares of Murphy Oil from $33.00 to $28.00 and set a "neutral" rating on the stock in a research report on Thursday, March 13th. Barclays lowered their target price on Murphy Oil from $24.00 to $22.00 and set an "underweight" rating for the company in a report on Friday. Finally, Truist Financial cut shares of Murphy Oil from a "buy" rating to a "hold" rating and decreased their target price for the company from $42.00 to $31.00 in a research note on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Murphy Oil has an average rating of "Hold" and an average target price of $32.08.

Murphy Oil Price Performance

Shares of NYSE:MUR traded up $1.13 during trading on Monday, hitting $22.99. 1,443,537 shares of the company's stock were exchanged, compared to its average volume of 2,166,527. The business's 50-day simple moving average is $23.53 and its 200 day simple moving average is $27.91. Murphy Oil Co. has a 52-week low of $18.95 and a 52-week high of $44.73. The company has a market cap of $3.28 billion, a price-to-earnings ratio of 8.53 and a beta of 1.10. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.83 and a quick ratio of 0.77.

Murphy Oil (NYSE:MUR - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The oil and gas producer reported $0.56 EPS for the quarter, topping the consensus estimate of $0.48 by $0.08. Murphy Oil had a return on equity of 7.66% and a net margin of 13.44%. The company had revenue of $665.71 million for the quarter, compared to the consensus estimate of $684.89 million. During the same period last year, the business posted $0.85 EPS. Murphy Oil's quarterly revenue was down 15.4% on a year-over-year basis. As a group, equities analysts predict that Murphy Oil Co. will post 2.94 EPS for the current year.

Murphy Oil Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Friday, May 16th will be issued a $0.325 dividend. The ex-dividend date is Friday, May 16th. This represents a $1.30 dividend on an annualized basis and a yield of 5.66%. Murphy Oil's payout ratio is 50.00%.

Murphy Oil 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.