Engineers Gate Manager LP Purchases 87,826 Shares of Murphy Oil Corporation $MUR

Key Points

• Engineers Gate Manager LP increased its Murphy Oil stake by 1,446.9%, purchasing 87,826 additional shares to hold 93,896 shares valued at approximately $3.06 million. 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 expectations, but earnings of $1.55 per share narrowly missed the $1.57 consensus estimate.
• The company maintains a quarterly dividend of $0.35 per share, representing a 3.6% annualized yield. Analysts’ consensus rating is Hold, with an average price target of $37.33 versus the reported share price of $38.48.

Engineers Gate Manager LP raised its holdings in shares of Murphy Oil Corporation (NYSE:MUR - Free Report) by 1,446.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 93,896 shares of the oil and gas producer's stock after buying an additional 87,826 shares during the period. Engineers Gate Manager LP owned about 0.07% of Murphy Oil worth $3,057,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Murphy Oil by 1.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 84,061 shares of the oil and gas producer's stock worth $2,387,000 after acquiring an additional 1,419 shares in the last quarter. United Services Automobile Association purchased a new position in Murphy Oil during the 1st quarter worth $265,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Murphy Oil by 22.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 249,094 shares of the oil and gas producer's stock valued at $7,074,000 after purchasing an additional 45,841 shares in the last quarter. Cetera Investment Advisers lifted its holdings in shares of Murphy Oil by 9.8% in the 2nd quarter. Cetera Investment Advisers now owns 31,471 shares of the oil and gas producer's stock worth $708,000 after buying an additional 2,819 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Murphy Oil by 437.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,802 shares of the oil and gas producer's stock worth $86,000 after buying an additional 3,095 shares during the period. Institutional investors own 78.31% of the company's stock.

Murphy Oil Stock Performance

NYSE MUR opened at $38.48 on Monday. The stock has a market capitalization of $5.52 billion, a price-to-earnings ratio of 19.05 and a beta of 0.50. The stock has a 50-day moving average of $36.31 and a 200 day moving average of $37.03. 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 Corporation has a twelve month low of $25.32 and a twelve month high of $43.34.

Murphy Oil (NYSE:MUR - Get Free Report) last posted its quarterly earnings data 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 return on equity of 6.63% and a net margin of 9.74%.Murphy Oil's quarterly revenue was up 33.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.27 earnings per share. Sell-side analysts anticipate that Murphy Oil Corporation will post 2.42 EPS for the current fiscal year.

Murphy Oil Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Monday, August 17th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date was Monday, August 17th. Murphy Oil's dividend payout ratio (DPR) is 69.31%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on MUR shares. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $34.00 price target on shares of Murphy Oil in a research report on Monday, September 7th. Wells Fargo & Company cut their price objective on shares of Murphy Oil from $45.00 to $41.00 and set an "equal weight" rating on the stock in a report on Wednesday, September 2nd. Mizuho upgraded Murphy Oil to a "hold" rating in a report on Friday, July 31st. KeyCorp dropped their target price on Murphy Oil from $48.00 to $43.00 and set an "overweight" rating on the stock in a research report on Thursday, August 13th. Finally, Jefferies Financial Group cut Murphy Oil from a "buy" rating to an "underperform" rating in a research report on Thursday, June 4th. Three research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Murphy Oil has an average rating of "Hold" and an average price target of $37.33.

Murphy Oil Profile

Murphy Oil Corporation NYSE: MUR is an independent oil and natural gas exploration and production company. Its activities include acquiring acreage, drilling and developing wells, and producing crude oil, natural gas and natural gas liquids for sale to customers and markets.

The company's portfolio is primarily focused on onshore assets in the United States, including operations in the Eagle Ford and other U.S. resource plays, as well as offshore production in the Gulf of Mexico. Murphy Oil has also maintained an international exploration and production presence, including projects in Canada and Malaysia, though its asset portfolio has changed over time through acquisitions and divestitures.

Murphy Oil traces its roots to the Murphy family's business interests and has operated as a publicly traded energy company for decades.

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