Ballentine Partners LLC Purchases Shares of 18,156 Murphy Oil Corporation $MUR

Key Points

• Ballentine Partners LLC purchased 18,156 shares of Murphy Oil Corporation, valued at approximately $409,000, in the second quarter, as reported in their recent SEC filing.
• Analysts have mixed opinions on Murphy Oil, with Barclays upgrading the price target to $23 (underweight rating) and Piper Sandler increasing it to $32 (overweight rating), reflecting varied outlooks on the stock's performance.
• Murphy Oil declared a quarterly dividend of $0.325, resulting in an annualized dividend of $1.30 and a yield of 4.3%, with a payout ratio of 67.36%.

Ballentine Partners LLC purchased a new stake in shares of Murphy Oil Corporation (NYSE:MUR - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 18,156 shares of the oil and gas producer's stock, valued at approximately $409,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Riverview Trust Co acquired a new position in shares of Murphy Oil during the first quarter worth about $26,000. Brooklyn Investment Group lifted its stake in shares of Murphy Oil by 3,989.7% during the first quarter. Brooklyn Investment Group now owns 1,186 shares of the oil and gas producer's stock worth $34,000 after purchasing an additional 1,157 shares in the last quarter. Byrne Asset Management LLC acquired a new position in shares of Murphy Oil in the first quarter worth about $44,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Murphy Oil by 1,710.9% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,666 shares of the oil and gas producer's stock worth $47,000 after acquiring an additional 1,574 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its stake in shares of Murphy Oil by 177.8% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,725 shares of the oil and gas producer's stock worth $49,000 after acquiring an additional 1,104 shares in the last quarter. Hedge funds and other institutional investors own 78.31% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Barclays boosted their price target on Murphy Oil from $22.00 to $23.00 and gave the stock an "underweight" rating in a research note on Monday, July 7th. Piper Sandler boosted their price target on Murphy Oil from $30.00 to $32.00 and gave the stock an "overweight" rating in a research note on Thursday, August 14th. Scotiabank reiterated a "sector perform" rating and issued a $26.00 price target (up previously from $22.00) on shares of Murphy Oil in a research note on Friday, July 11th. Mizuho cut their price target on Murphy Oil from $31.00 to $29.00 and set a "neutral" rating on the stock in a research note on Monday, September 15th. Finally, Wells Fargo & Company set a $24.00 price target on Murphy Oil and gave the stock an "equal weight" rating in a research note on Thursday, June 26th. One equities research analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Reduce" and an average price target of $29.54.

Murphy Oil Stock Up 3.1%

NYSE:MUR opened at $30.06 on Friday. The firm has a market capitalization of $4.29 billion, a PE ratio of 15.58 and a beta of 1.15. The stock has a 50 day moving average of $25.14 and a 200-day moving average of $23.97. Murphy Oil Corporation has a 52 week low of $18.94 and a 52 week high of $36.62. The company has a current ratio of 0.84, a quick ratio of 0.77 and a debt-to-equity ratio of 0.28.

Murphy Oil (NYSE:MUR - Get Free Report) last posted its earnings results on Wednesday, August 6th. The oil and gas producer reported $0.27 EPS for the quarter, beating the consensus estimate of $0.21 by $0.06. The company had revenue of $695.57 million during the quarter, compared to analyst estimates of $632.51 million. Murphy Oil had a return on equity of 5.25% and a net margin of 10.20%.The business's revenue was down 13.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.81 earnings per share. Analysts predict that Murphy Oil Corporation will post 2.94 EPS for the current year.

Murphy Oil Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were issued a $0.325 dividend. This represents a $1.30 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend was Monday, August 18th. Murphy Oil's dividend payout ratio is 67.36%.

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.

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