Concurrent Investment Advisors LLC Takes $257,000 Position in Murphy Oil Corporation $MUR

Key Points

• Concurrent Investment Advisors LLC has acquired a new stake in Murphy Oil Corporation, purchasing 11,427 shares valued at approximately $257,000.
• Murphy Oil announced a quarterly dividend of $0.325 per share, representing an annualized yield of 4.7%, with a payout ratio of 67.36%.
• Research firms have set varying price targets for Murphy Oil, with Morgan Stanley reducing theirs to $27.00, while Piper Sandler increased theirs to $32.00.

Concurrent Investment Advisors LLC purchased a new stake in Murphy Oil Corporation (NYSE:MUR - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 11,427 shares of the oil and gas producer's stock, valued at approximately $257,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Mustard Seed Financial LLC lifted its stake in shares of Murphy Oil by 2.9% in the first quarter. Mustard Seed Financial LLC now owns 17,861 shares of the oil and gas producer's stock valued at $507,000 after buying an additional 500 shares during the period. Penserra Capital Management LLC lifted its stake in shares of Murphy Oil by 3.2% in the first quarter. Penserra Capital Management LLC now owns 17,367 shares of the oil and gas producer's stock valued at $493,000 after buying an additional 532 shares during the period. Fifth Third Bancorp lifted its stake in shares of Murphy Oil by 5.8% in the second quarter. Fifth Third Bancorp now owns 19,114 shares of the oil and gas producer's stock valued at $430,000 after buying an additional 1,054 shares during the period. Cresset Asset Management LLC lifted its stake in shares of Murphy Oil by 4.4% in the first quarter. Cresset Asset Management LLC now owns 26,830 shares of the oil and gas producer's stock valued at $762,000 after buying an additional 1,141 shares during the period. Finally, Brooklyn Investment Group lifted its stake in shares of 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 buying an additional 1,157 shares during the period. 78.31% of the stock is owned by institutional investors and hedge funds.

Murphy Oil Stock Performance

Shares of Murphy Oil stock opened at $27.63 on Tuesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.84 and a quick ratio of 0.77. The firm has a market cap of $3.94 billion, a P/E ratio of 14.32 and a beta of 1.03. The firm has a 50 day simple moving average of $26.45 and a 200 day simple moving average of $24.15. Murphy Oil Corporation has a fifty-two week low of $18.94 and a fifty-two week high of $34.52.

Murphy Oil (NYSE:MUR - Get Free Report) last issued its quarterly earnings results on Monday, March 21st. The oil and gas producer reported ($0.09) earnings per share for the quarter. Murphy Oil had a net margin of 10.20% and a return on equity of 5.25%. The company had revenue of $440.08 million during the quarter. Sell-side analysts predict that Murphy Oil Corporation will post 2.94 earnings per share for the current fiscal year.

Murphy Oil Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be issued a dividend of $0.325 per share. This represents a $1.30 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date of this dividend is Monday, November 17th. Murphy Oil's payout ratio is currently 67.36%.

Analysts Set New Price Targets

Several research firms recently weighed in on MUR. Morgan Stanley reduced their target price on shares of Murphy Oil from $28.00 to $27.00 and set an "underweight" rating for the company in a research note on Tuesday, October 14th. Evercore ISI cut their price target on shares of Murphy Oil from $23.00 to $22.00 and set an "in-line" rating for the company in a research note on Monday, October 6th. Piper Sandler raised their price target on shares of Murphy Oil from $30.00 to $32.00 and gave the stock an "overweight" rating in a research note on Thursday, August 14th. Zacks Research cut shares of Murphy Oil from a "hold" rating to a "strong sell" rating in a research note on Monday, September 15th. Finally, Mizuho cut their price target on shares of Murphy Oil from $31.00 to $29.00 and set a "neutral" rating for the company in a research note on Monday, September 15th. One equities research analyst has rated the stock with a Buy rating, eleven have given 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 "Reduce" and an average target price of $28.08.

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.

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.