Denali Advisors LLC Purchases 105,976 Shares of Murphy Oil Corporation $MUR

Key Points

• Denali Advisors LLC significantly increased its holdings in Murphy Oil, purchasing 105,976 shares, resulting in a total of 114,976 shares, worth approximately $2.59 million.
• Several analysts have downgraded Murphy Oil’s stock ratings, with Zacks Research labeling it a "strong sell" and multiple firms reducing their target prices.
• Murphy Oil recently announced a quarterly dividend of $0.325 per share, representing an annualized yield of 4.8%, payable to shareholders as of November 17.

Denali Advisors LLC lifted its holdings in shares of Murphy Oil Corporation (NYSE:MUR - Free Report) by 1,177.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 114,976 shares of the oil and gas producer's stock after purchasing an additional 105,976 shares during the period. Denali Advisors LLC owned 0.08% of Murphy Oil worth $2,587,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the business. Dimensional Fund Advisors LP lifted its holdings in shares of Murphy Oil by 0.5% during the first quarter. Dimensional Fund Advisors LP now owns 7,974,008 shares of the oil and gas producer's stock worth $226,461,000 after purchasing an additional 35,826 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Murphy Oil by 210.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 5,610,766 shares of the oil and gas producer's stock valued at $159,346,000 after buying an additional 3,805,565 shares during the period. Hotchkis & Wiley Capital Management LLC lifted its holdings in Murphy Oil by 72.9% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 4,812,267 shares of the oil and gas producer's stock valued at $136,668,000 after buying an additional 2,029,685 shares during the period. LSV Asset Management lifted its holdings in Murphy Oil by 29.4% in the first quarter. LSV Asset Management now owns 3,633,023 shares of the oil and gas producer's stock valued at $103,178,000 after buying an additional 825,746 shares during the period. Finally, Earnest Partners LLC lifted its holdings in Murphy Oil by 3.6% in the first quarter. Earnest Partners LLC now owns 3,052,273 shares of the oil and gas producer's stock valued at $86,685,000 after buying an additional 106,720 shares during the period. Institutional investors and hedge funds own 78.31% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Zacks Research lowered shares of Murphy Oil from a "hold" rating to a "strong sell" rating in a report on Monday, September 15th. Morgan Stanley decreased 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 report on Tuesday, October 14th. Evercore ISI decreased their target price on shares of Murphy Oil from $23.00 to $22.00 and set an "in-line" rating for the company in a research report on Monday, October 6th. Mizuho decreased their target price on shares of Murphy Oil from $31.00 to $29.00 and set a "neutral" rating for the company in a research report on Monday, September 15th. Finally, Barclays boosted their target price on shares of Murphy Oil from $22.00 to $23.00 and gave the stock an "underweight" rating in a research report on Monday, July 7th. One equities research analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Reduce" and an average price target of $28.25.

Murphy Oil Trading Down 0.9%

NYSE:MUR opened at $27.31 on Wednesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.77 and a current ratio of 0.84. The firm has a market cap of $3.90 billion, a price-to-earnings ratio of 14.15 and a beta of 1.03. Murphy Oil Corporation has a 52 week low of $18.94 and a 52 week high of $34.52. The firm has a 50-day moving average price of $26.53 and a two-hundred day moving average price of $24.17.

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

Murphy Oil Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 17th will be given a dividend of $0.325 per share. This represents a $1.30 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date of this dividend is Monday, November 17th. Murphy Oil's dividend payout ratio is currently 67.36%.

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.

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