Connor Clark & Lunn Investment Management Ltd. Makes New $11.83 Million Investment in Murphy Oil Corporation $MUR

Key Points

• Connor Clark & Lunn Investment Management purchased 363,221 Murphy Oil shares worth approximately $11.83 million, while institutional investors collectively own 78.31% of the company.
• Murphy Oil reported quarterly revenue of $926.33 million, up 33.5% year over year and above estimates, but earnings per share of $1.55 narrowly missed expectations.
• The company declared a quarterly dividend of $0.35 per share, equivalent to an annualized $1.40 payout and a 4.0% yield. Analysts maintain a consensus “Hold” rating with a $37.58 price target.

Connor Clark & Lunn Investment Management Ltd. bought a new position in Murphy Oil Corporation (NYSE:MUR - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 363,221 shares of the oil and gas producer's stock, valued at approximately $11,826,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.25% of Murphy Oil as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in shares of Murphy Oil during the second quarter valued at approximately $626,514,000. Dimensional Fund Advisors LP raised its holdings in Murphy Oil by 3.0% in the first quarter. Dimensional Fund Advisors LP now owns 8,171,385 shares of the oil and gas producer's stock worth $337,081,000 after purchasing an additional 238,326 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Murphy Oil by 2.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,572,610 shares of the oil and gas producer's stock worth $174,144,000 after purchasing an additional 143,125 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted 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. Finally, AQR Capital Management LLC lifted its position in Murphy Oil by 8.3% during the third quarter. AQR Capital Management LLC now owns 2,656,394 shares of the oil and gas producer's stock valued at $75,468,000 after buying an additional 204,349 shares during the period. Hedge funds and other institutional investors own 78.31% of the company's stock.

Murphy Oil Trading Up 0.2%

Murphy Oil stock opened at $34.70 on Thursday. Murphy Oil Corporation has a 12 month low of $23.81 and a 12 month high of $43.34. The company has a market capitalization of $4.98 billion, a price-to-earnings ratio of 17.18 and a beta of 0.50. The business's fifty day simple moving average is $35.49 and its two-hundred day simple moving average is $36.68. 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 (NYSE:MUR - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The oil and gas producer reported $1.55 earnings per share for the quarter, missing the consensus estimate of $1.57 by ($0.02). The company had revenue of $926.33 million for the quarter, compared to the consensus estimate of $888.51 million. Murphy Oil had a net margin of 9.74% and a return on equity of 6.63%. Murphy Oil's revenue was up 33.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.27 earnings per share. As a group, equities analysts predict that Murphy Oil Corporation will post 2.77 earnings per share for the current fiscal year.

Murphy Oil Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Monday, August 17th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend is Monday, August 17th. Murphy Oil's dividend payout ratio is 69.31%.

Analyst Upgrades and Downgrades

MUR has been the topic of a number of recent research reports. Mizuho raised shares of Murphy Oil to a "hold" rating in a research report on Friday, July 31st. KeyCorp lowered their price target on shares of Murphy Oil from $48.00 to $43.00 and set an "overweight" rating for the company in a research report on Thursday, August 13th. Barclays lowered shares of Murphy Oil from an "equal weight" rating to an "underweight" rating and dropped their price objective for the stock from $38.00 to $34.00 in a research note on Friday, August 14th. Jefferies Financial Group cut shares of Murphy Oil from a "buy" rating to an "underperform" rating in a report on Thursday, June 4th. Finally, UBS Group decreased their target price on shares of Murphy Oil from $41.00 to $38.00 and set a "neutral" rating for the company in a research note on Friday, August 7th. Three research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, Murphy Oil currently has a consensus rating of "Hold" and a consensus price target of $37.58.

Murphy Oil Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source