Bank of America Corp DE Takes Position in Murphy Oil Corporation $MUR

Key Points

• Bank of America acquired 1.4 million Murphy Oil shares worth approximately $45.7 million, representing about 0.98% of the company. Institutional investors collectively own 78.31% of Murphy Oil.
• Murphy Oil reported quarterly revenue of $926.3 million, up 33.5% year over year, but earnings per share of $1.55 narrowly missed analysts’ $1.57 estimate.
• The stock was trading at $36.22, while analysts maintained a consensus “Hold” rating with an average price target of $37.75; the company also pays a quarterly dividend of $0.35, yielding about 3.9% annually.

Bank of America Corp DE acquired a new stake in shares of Murphy Oil Corporation (NYSE:MUR - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,404,146 shares of the oil and gas producer's stock, valued at approximately $45,719,000. Bank of America Corp DE owned approximately 0.98% of Murphy Oil at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. BlackRock Inc. purchased a new stake in Murphy Oil in the 2nd quarter worth approximately $626,514,000. Dimensional Fund Advisors LP grew its position in Murphy Oil by 3.0% during the first quarter. Dimensional Fund Advisors LP now owns 8,171,385 shares of the oil and gas producer's stock valued at $337,081,000 after buying an additional 238,326 shares during the period. Arrowstreet Capital Limited Partnership grew its position in Murphy Oil by 105.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 3,310,884 shares of the oil and gas producer's stock valued at $136,574,000 after buying an additional 1,700,498 shares during the period. Bank of New York Mellon Corp raised its position in shares of Murphy Oil by 0.4% in the first quarter. Bank of New York Mellon Corp now owns 1,571,120 shares of the oil and gas producer's stock worth $64,809,000 after acquiring an additional 6,064 shares during the period. Finally, First Trust Advisors LP boosted its stake in shares of Murphy Oil by 24.8% during the 1st quarter. First Trust Advisors LP now owns 942,927 shares of the oil and gas producer's stock worth $38,896,000 after acquiring an additional 187,610 shares in the last quarter. Hedge funds and other institutional investors own 78.31% of the company's stock.

Murphy Oil Stock Down 3.1%

Murphy Oil stock opened at $36.22 on Tuesday. The firm has a market capitalization of $5.19 billion, a P/E ratio of 17.93 and a beta of 0.50. The company has a current ratio of 0.85, a quick ratio of 0.80 and a debt-to-equity ratio of 0.29. Murphy Oil Corporation has a twelve month low of $26.18 and a twelve month high of $43.34. The stock's fifty day simple moving average is $36.84 and its 200-day simple moving average is $37.24.

Murphy Oil (NYSE:MUR - Get Free Report) last announced its quarterly 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 return on equity of 6.63% and a net margin of 9.74%.The business had revenue of $926.33 million for the quarter, compared to analysts' expectations of $888.51 million. During the same period last year, the firm earned $0.27 earnings per share. The firm's quarterly revenue was up 33.5% on a year-over-year basis. As a group, equities analysts expect that Murphy Oil Corporation will post 2.66 earnings per share for the current fiscal year.

Murphy Oil Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Monday, August 17th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend was Monday, August 17th. Murphy Oil's dividend payout ratio (DPR) is presently 69.31%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Barclays lowered Murphy Oil from an "equal weight" rating to an "underweight" rating and cut their price target for the company from $38.00 to $34.00 in a research note on Friday, August 14th. UBS Group lowered their target price on shares of Murphy Oil from $41.00 to $38.00 and set a "neutral" rating on the stock in a research note on Friday, August 7th. Morgan Stanley reaffirmed an "underweight" rating and issued a $36.00 price target on shares of Murphy Oil in a report on Wednesday, August 19th. KeyCorp lifted their price objective on Murphy Oil from $43.00 to $47.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 15th. Finally, Wells Fargo & Company boosted their price target on shares of Murphy Oil from $41.00 to $42.00 and gave the company an "equal weight" rating in a research report on Monday, September 14th. Three investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, Murphy Oil has a consensus rating of "Hold" and an average price target of $37.75.

Murphy Oil Company Profile

Murphy Oil Corporation NYSE: MUR is an independent oil and natural gas exploration and production company. Its activities include acquiring acreage, drilling and developing wells, and producing crude oil, natural gas and natural gas liquids for sale to customers and markets.

The company's portfolio is primarily focused on onshore assets in the United States, including operations in the Eagle Ford and other U.S. resource plays, as well as offshore production in the Gulf of Mexico. Murphy Oil has also maintained an international exploration and production presence, including projects in Canada and Malaysia, though its asset portfolio has changed over time through acquisitions and divestitures.

Murphy Oil traces its roots to the Murphy family's business interests and has operated as a publicly traded energy company for decades.

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