GAMMA Investing LLC Purchases 86,950 Shares of Murphy Oil Co. (NYSE:MUR)

GAMMA Investing LLC lifted its stake in shares of Murphy Oil Co. (NYSE:MUR - Free Report) by 6,900.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 88,210 shares of the oil and gas producer's stock after buying an additional 86,950 shares during the quarter. GAMMA Investing LLC owned about 0.06% of Murphy Oil worth $2,505,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of MUR. Huntington National Bank grew its position in Murphy Oil by 342.8% in the 4th quarter. Huntington National Bank now owns 828 shares of the oil and gas producer's stock valued at $25,000 after purchasing an additional 641 shares during the period. GeoWealth Management LLC acquired a new stake in Murphy Oil in the 4th quarter valued at $39,000. Lindbrook Capital LLC grew its position in Murphy Oil by 60.5% in the 4th quarter. Lindbrook Capital LLC now owns 1,441 shares of the oil and gas producer's stock valued at $44,000 after purchasing an additional 543 shares during the period. MassMutual Private Wealth & Trust FSB grew its position in Murphy Oil by 177.8% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,725 shares of the oil and gas producer's stock valued at $49,000 after purchasing an additional 1,104 shares during the period. Finally, Headlands Technologies LLC grew its position in Murphy Oil by 32.9% in the 4th quarter. Headlands Technologies LLC now owns 1,903 shares of the oil and gas producer's stock valued at $58,000 after purchasing an additional 471 shares during the period. Institutional investors and hedge funds own 78.31% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Piper Sandler reduced their price target on shares of Murphy Oil from $35.00 to $30.00 and set an "overweight" rating for the company in a research report on Tuesday, May 13th. Mizuho cut Murphy Oil from an "outperform" rating to a "neutral" rating and dropped their price objective for the company from $32.00 to $31.00 in a research note on Tuesday, May 13th. Wells Fargo & Company dropped their price objective on Murphy Oil from $31.00 to $26.00 and set an "equal weight" rating on the stock in a research note on Wednesday, May 14th. Scotiabank dropped their price objective on Murphy Oil from $36.00 to $22.00 and set a "sector perform" rating on the stock in a research note on Friday, April 11th. Finally, JPMorgan Chase & Co. dropped their price objective on Murphy Oil from $33.00 to $28.00 and set a "neutral" rating on the stock in a research note on Thursday, March 13th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $29.23.

Murphy Oil Stock Performance

Shares of NYSE MUR traded down $0.40 during mid-day trading on Monday, reaching $25.03. 2,954,719 shares of the company's stock were exchanged, compared to its average volume of 2,289,011. The firm has a market capitalization of $3.57 billion, a price-to-earnings ratio of 9.31 and a beta of 1.09. Murphy Oil Co. has a 52 week low of $18.95 and a 52 week high of $43.02. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.83 and a quick ratio of 0.77. The firm has a 50-day moving average price of $21.77 and a two-hundred day moving average price of $26.07.

Murphy Oil (NYSE:MUR - Get Free Report) last released its earnings results on Wednesday, May 7th. The oil and gas producer reported $0.56 EPS for the quarter, topping analysts' consensus estimates of $0.48 by $0.08. The company had revenue of $665.71 million for the quarter, compared to analysts' expectations of $684.89 million. Murphy Oil had a return on equity of 7.66% and a net margin of 13.44%. The business's revenue for the quarter was down 15.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.85 EPS. Analysts predict that Murphy Oil Co. will post 2.94 EPS for the current year.

Murphy Oil Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 16th were paid a $0.325 dividend. This represents a $1.30 dividend on an annualized basis and a yield of 5.19%. The ex-dividend date was Friday, May 16th. Murphy Oil's dividend payout ratio is currently 50.00%.

Murphy Oil 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.