Bayforest Capital Ltd Increases Stock Position in Murphy Oil Corporation $MUR

Key Points

• Bayforest Capital Ltd significantly increased its stake in Murphy Oil Corporation by 4,974.8% in the first quarter, owning a total of 14,514 shares valued at $412,000.
• Murphy Oil's stock declined by 1.4% and has a current market cap of $3.56 billion, with a 52-week range of $18.94 to $36.63.
• The company recently announced a quarterly dividend of $0.325 per share, representing a 5.2% annual yield and a payout ratio of 67.36%.

Bayforest Capital Ltd boosted its stake in Murphy Oil Corporation (NYSE:MUR - Free Report) by 4,974.8% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 14,514 shares of the oil and gas producer's stock after purchasing an additional 14,228 shares during the period. Bayforest Capital Ltd's holdings in Murphy Oil were worth $412,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Riverview Trust Co acquired a new stake in shares of Murphy Oil in the first quarter valued at $26,000. Brooklyn Investment Group increased its stake in Murphy Oil by 3,989.7% in the first quarter. Brooklyn Investment Group now owns 1,186 shares of the oil and gas producer's stock valued at $34,000 after purchasing an additional 1,157 shares during the last quarter. Byrne Asset Management LLC acquired a new stake in Murphy Oil during the first quarter worth approximately $44,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Murphy Oil by 1,710.9% during 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 purchasing an additional 1,574 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Murphy Oil by 177.8% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,725 shares of the oil and gas producer's stock valued at $49,000 after buying an additional 1,104 shares in the last quarter. 78.31% of the stock is currently owned by hedge funds and other institutional investors.

Murphy Oil Stock Down 1.4%

Shares of NYSE:MUR opened at $24.96 on Wednesday. Murphy Oil Corporation has a fifty-two week low of $18.94 and a fifty-two week high of $36.63. The company has a quick ratio of 0.77, a current ratio of 0.84 and a debt-to-equity ratio of 0.28. The firm's 50-day simple moving average is $24.53 and its 200-day simple moving average is $23.82. The company has a market cap of $3.56 billion, a price-to-earnings ratio of 12.93 and a beta of 1.15.

Murphy Oil (NYSE:MUR - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The oil and gas producer reported $0.27 EPS for the quarter, beating analysts' consensus estimates of $0.21 by $0.06. Murphy Oil had a net margin of 10.20% and a return on equity of 5.25%. The firm had revenue of $695.57 million during the quarter, compared to the consensus estimate of $632.51 million. During the same quarter last year, the firm earned $0.81 earnings per share. The firm's revenue was down 13.4% compared to the same quarter last year. As a group, equities research analysts predict that Murphy Oil Corporation will post 2.94 earnings per share 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 dividend of $0.325 per share. This represents a $1.30 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date of this dividend was Monday, August 18th. Murphy Oil's dividend payout ratio is currently 67.36%.

Wall Street Analyst Weigh In

MUR has been the topic of several research analyst reports. UBS Group lifted their price target on shares of Murphy Oil from $23.00 to $24.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 13th. Morgan Stanley decreased their target price on Murphy Oil from $27.00 to $26.00 and set an "underweight" rating for the company in a research report on Friday, May 23rd. Scotiabank reaffirmed a "sector perform" rating and set a $26.00 price target (up previously from $22.00) on shares of Murphy Oil in a research report on Friday, July 11th. Roth Capital cut Murphy Oil from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $27.00 to $25.00 in a research note on Thursday, May 15th. Finally, Barclays increased their price objective on Murphy Oil from $22.00 to $23.00 and gave the company an "underweight" rating in a report on Monday, July 7th. One investment analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Reduce" and a consensus price target of $29.69.

About Murphy Oil

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.