GAMMA Investing LLC Buys 13,507 Shares of Murphy Oil Corporation $MUR

Key Points

• GAMMA Investing LLC significantly increased its stake in Murphy Oil Corporation by 434.9%, acquiring an additional 13,507 shares during the second quarter.
• Several other institutional investors also boosted their positions in Murphy Oil, contributing to a total of 78.31% of the stock being owned by institutional shareholders.
• Despite a 13.4% decline in quarterly revenue compared to last year, Murphy Oil reported earnings per share of $0.27, surpassing expectations of $0.21.

GAMMA Investing LLC lifted its stake in shares of Murphy Oil Corporation (NYSE:MUR - Free Report) by 434.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 16,613 shares of the oil and gas producer's stock after purchasing an additional 13,507 shares during the quarter. GAMMA Investing LLC's holdings in Murphy Oil were worth $374,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Dimensional Fund Advisors LP raised its stake in shares of Murphy Oil by 0.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 7,974,008 shares of the oil and gas producer's stock valued at $226,461,000 after purchasing an additional 35,826 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Murphy Oil by 210.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 5,610,766 shares of the oil and gas producer's stock worth $159,346,000 after acquiring an additional 3,805,565 shares during the last quarter. Hotchkis & Wiley Capital Management LLC increased its stake in Murphy Oil by 72.9% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 4,812,267 shares of the oil and gas producer's stock worth $136,668,000 after acquiring an additional 2,029,685 shares during the last quarter. LSV Asset Management increased its stake in Murphy Oil by 29.4% in the 1st quarter. LSV Asset Management now owns 3,633,023 shares of the oil and gas producer's stock worth $103,178,000 after acquiring an additional 825,746 shares during the last quarter. Finally, Earnest Partners LLC increased its stake in Murphy Oil by 3.6% in the 1st quarter. Earnest Partners LLC now owns 3,052,273 shares of the oil and gas producer's stock worth $86,685,000 after acquiring an additional 106,720 shares during the last quarter. 78.31% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

MUR has been the topic of a number of research analyst reports. Wells Fargo & Company set a $24.00 target price on Murphy Oil and gave the stock an "equal weight" rating in a research note on Thursday, June 26th. Piper Sandler upped their target price on Murphy Oil from $30.00 to $32.00 and gave the stock an "overweight" rating in a research note on Thursday, August 14th. Barclays upped their target price on Murphy Oil from $22.00 to $23.00 and gave the stock an "underweight" rating in a research note on Monday, July 7th. Scotiabank restated a "sector perform" rating and issued a $26.00 target price (up from $22.00) on shares of Murphy Oil in a research note on Friday, July 11th. Finally, Zacks Research lowered Murphy Oil from a "hold" rating to a "strong sell" rating in a research note on Monday, September 15th. One investment analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Reduce" and a consensus price target of $29.54.

Murphy Oil Trading Up 3.1%

Shares of MUR stock opened at $30.06 on Friday. The stock has a market capitalization of $4.29 billion, a PE ratio of 15.58 and a beta of 1.15. Murphy Oil Corporation has a 1-year low of $18.94 and a 1-year high of $36.62. The business has a 50-day moving average of $25.14 and a 200 day moving average of $23.97. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.84 and a quick ratio of 0.77.

Murphy Oil (NYSE:MUR - Get Free Report) last issued its earnings results on Wednesday, August 6th. The oil and gas producer reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.06. The company had revenue of $695.57 million during the quarter, compared to analysts' expectations of $632.51 million. Murphy Oil had a return on equity of 5.25% and a net margin of 10.20%.Murphy Oil's quarterly revenue was down 13.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.81 EPS. As a group, sell-side analysts anticipate 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. Shareholders of record on Monday, August 18th were issued a $0.325 dividend. The ex-dividend date was Monday, August 18th. This represents a $1.30 annualized dividend and a yield of 4.3%. Murphy Oil's dividend payout ratio (DPR) is 67.36%.

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.

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