220,460 Shares in Murphy Oil Corporation $MUR Purchased by Oppenheimer Asset Management Inc.

Key Points

• Oppenheimer Asset Management acquired 220,460 Murphy Oil shares worth approximately $7.18 million during the second quarter, while institutional investors collectively own 78.31% of the company.
• Analyst sentiment remains cautious: Murphy Oil has an average rating of “Hold” from MarketBeat, with a consensus price target of $37.50; recent actions included downgrades from Barclays and Wall Street Zen.
• Murphy Oil reported quarterly revenue of $926.33 million, up 33.5% year over year, but EPS of $1.55 narrowly missed estimates. The company also declared a quarterly dividend of $0.35 per share, representing a 4.0% annualized yield.

Oppenheimer Asset Management Inc. acquired a new stake in Murphy Oil Corporation (NYSE:MUR - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 220,460 shares of the oil and gas producer's stock, valued at approximately $7,178,000. Oppenheimer Asset Management Inc. owned about 0.15% of Murphy Oil at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Murphy Oil by 1.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 84,061 shares of the oil and gas producer's stock valued at $2,387,000 after purchasing an additional 1,419 shares in the last quarter. United Services Automobile Association purchased a new position in shares of Murphy Oil during the 1st quarter worth approximately $265,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Murphy Oil by 22.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 249,094 shares of the oil and gas producer's stock worth $7,074,000 after purchasing an additional 45,841 shares during the last quarter. Cetera Investment Advisers raised its position in shares of Murphy Oil by 9.8% during the 2nd quarter. Cetera Investment Advisers now owns 31,471 shares of the oil and gas producer's stock worth $708,000 after purchasing an additional 2,819 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in shares of Murphy Oil by 437.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,802 shares of the oil and gas producer's stock worth $86,000 after purchasing an additional 3,095 shares during the last quarter. 78.31% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MUR has been the topic of a number of recent research reports. Roth Capital reaffirmed a "neutral" rating and issued a $36.00 target price on shares of Murphy Oil in a research note on Thursday, May 7th. Wall Street Zen downgraded Murphy Oil from a "buy" rating to a "hold" rating in a research report on Saturday, June 27th. Barclays cut Murphy Oil from an "equal weight" rating to an "underweight" rating and cut their price target for the stock from $38.00 to $34.00 in a report on Friday. KeyCorp reduced their price objective on Murphy Oil from $48.00 to $43.00 and set an "overweight" rating on the stock in a research report on Thursday. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Murphy Oil in a research note on Wednesday, June 24th. Three equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $37.50.

Murphy Oil Trading Down 0.5%

Shares of MUR stock opened at $34.63 on Friday. The firm has a market cap of $4.96 billion, a P/E ratio of 17.14 and a beta of 0.50. Murphy Oil Corporation has a 1-year low of $21.86 and a 1-year high of $43.34. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.85 and a quick ratio of 0.80. The firm's 50-day simple moving average is $35.80 and its 200-day simple moving average is $36.35.

Murphy Oil (NYSE:MUR - Get Free Report) last released its earnings results on Wednesday, August 5th. The oil and gas producer reported $1.55 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.57 by ($0.02). Murphy Oil had a net margin of 9.74% and a return on equity of 6.63%. The company had revenue of $926.33 million during the quarter, compared to analysts' expectations of $888.51 million. During the same quarter in the previous year, the firm posted $0.27 earnings per share. Murphy Oil's revenue for the quarter was up 33.5% compared to the same quarter last year. As a group, equities analysts forecast that Murphy Oil Corporation will post 2.98 EPS for the current year.

Murphy Oil Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date is Monday, August 17th. Murphy Oil's dividend payout ratio (DPR) is 69.31%.

Murphy Oil Profile

Murphy Oil Corporation is an independent upstream oil and gas company engaged in the exploration, development and production of crude oil, natural gas and natural gas liquids. The company's operations encompass conventional onshore and offshore reservoirs, with an emphasis on liquids-rich properties and deepwater assets. Through a combination of proprietary technologies and strategic joint ventures, Murphy Oil seeks to optimize recovery rates and manage its portfolio to balance long-term resource development with operational flexibility.

Murphy Oil's exploration and production activities are geographically diversified.

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