Bank of New York Mellon Corp Invests $49.68 Million in Murphy Oil Corporation $MUR

Key Points

• Bank of New York Mellon acquired 1.53 million Murphy Oil shares worth approximately $49.68 million, giving it a 1.06% stake. Institutional investors collectively own 78.31% of the company.
• Murphy Oil reported quarterly revenue of $926.33 million, up 33.5% year over year, but earnings of $1.55 per share slightly missed analyst expectations of $1.57.
• The company declared a quarterly dividend of $0.35 per share, equivalent to $1.40 annually and a 3.9% yield. Analysts maintain an average “Hold” rating with a consensus price target of $37.58.

Bank of New York Mellon Corp purchased a new position in shares of Murphy Oil Corporation (NYSE:MUR - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,525,832 shares of the oil and gas producer's stock, valued at approximately $49,681,000. Bank of New York Mellon Corp owned 1.06% of Murphy Oil as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. NewEdge Wealth LLC raised its holdings in shares of Murphy Oil by 2.6% during the first quarter. NewEdge Wealth LLC now owns 10,954 shares of the oil and gas producer's stock worth $452,000 after purchasing an additional 281 shares during the last quarter. Baron Wealth Management LLC increased its holdings in shares of Murphy Oil by 2.6% during the 1st quarter. Baron Wealth Management LLC now owns 12,118 shares of the oil and gas producer's stock valued at $500,000 after purchasing an additional 304 shares in the last quarter. Parallel Advisors LLC lifted its stake in shares of Murphy Oil by 3.7% in the 4th quarter. Parallel Advisors LLC now owns 11,091 shares of the oil and gas producer's stock valued at $347,000 after purchasing an additional 400 shares during the period. Cetera Investment Advisers lifted its stake in shares of Murphy Oil by 0.9% in the 4th quarter. Cetera Investment Advisers now owns 45,662 shares of the oil and gas producer's stock valued at $1,427,000 after purchasing an additional 401 shares during the period. Finally, Empowered Funds LLC boosted its holdings in Murphy Oil by 0.9% during the fourth quarter. Empowered Funds LLC now owns 49,066 shares of the oil and gas producer's stock worth $1,533,000 after buying an additional 418 shares in the last quarter. 78.31% of the stock is currently owned by hedge funds and other institutional investors.

Murphy Oil Stock Up 3.8%

Shares of NYSE:MUR opened at $36.00 on Friday. Murphy Oil Corporation has a 52-week low of $24.31 and a 52-week high of $43.34. The company has a quick ratio of 0.80, a current ratio of 0.85 and a debt-to-equity ratio of 0.29. The business has a fifty day moving average of $35.53 and a two-hundred day moving average of $36.71. The stock has a market cap of $5.16 billion, a P/E ratio of 17.82 and a beta of 0.50.

Murphy Oil (NYSE:MUR - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The oil and gas producer reported $1.55 EPS for the quarter, missing the consensus estimate of $1.57 by ($0.02). The firm had revenue of $926.33 million for the quarter, compared to analysts' expectations of $888.51 million. Murphy Oil had a net margin of 9.74% and a return on equity of 6.63%. The firm's quarterly revenue was up 33.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.27 EPS. On average, research analysts expect that Murphy Oil Corporation will post 2.77 earnings per share for the current year.

Murphy Oil Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th will be given a $0.35 dividend. The ex-dividend date of this dividend is Monday, August 17th. This represents a $1.40 dividend on an annualized basis and a yield of 3.9%. Murphy Oil's payout ratio is presently 69.31%.

Analyst Ratings Changes

Several research firms have recently issued reports on MUR. Roth Capital reissued a "neutral" rating and set a $36.00 target price on shares of Murphy Oil in a research note on Thursday, May 7th. UBS Group cut their price objective on Murphy Oil from $41.00 to $38.00 and set a "neutral" rating for the company in a research report on Friday, August 7th. Wells Fargo & Company upped their target price on Murphy Oil from $42.00 to $45.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 13th. Barclays lowered Murphy Oil from an "equal weight" rating to an "underweight" rating and decreased their target price for the company from $38.00 to $34.00 in a research report on Friday, August 14th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Murphy Oil in a report on Wednesday, June 24th. Three research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $37.58.

About Murphy Oil

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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