Invenomic Capital Management LP Has $19.43 Million Position in Murphy Oil Corporation $MUR

Key Points

• Invenomic Capital Management LP increased its position in Murphy Oil Corporation by 30.9%, owning a total of 684,008 shares, which represents approximately 1.0% of its holdings.
• Murphy Oil reported $0.27 EPS for the last quarter, surpassing estimates of $0.21, while also generating $695.57 million in revenue, down 13.4% year-over-year.
• The company declared a quarterly dividend of $0.325, translating to an annualized dividend yield of 5.1%, with a payout ratio of 67.36%.

Invenomic Capital Management LP grew its holdings in Murphy Oil Corporation (NYSE:MUR - Free Report) by 30.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 684,008 shares of the oil and gas producer's stock after acquiring an additional 161,292 shares during the period. Murphy Oil comprises 1.0% of Invenomic Capital Management LP's holdings, making the stock its 27th biggest position. Invenomic Capital Management LP owned about 0.48% of Murphy Oil worth $19,426,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Riverview Trust Co purchased a new stake in shares of Murphy Oil in the 1st quarter valued at $26,000. Brooklyn Investment Group boosted its holdings in Murphy Oil by 3,989.7% during the first quarter. Brooklyn Investment Group now owns 1,186 shares of the oil and gas producer's stock worth $34,000 after buying an additional 1,157 shares in the last quarter. Byrne Asset Management LLC purchased a new stake in Murphy Oil during the first quarter worth $44,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Murphy Oil by 1,710.9% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,666 shares of the oil and gas producer's stock worth $47,000 after buying an additional 1,574 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings in Murphy Oil by 177.8% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,725 shares of the oil and gas producer's stock worth $49,000 after buying an additional 1,104 shares in the last quarter. 78.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on MUR shares. Mizuho downgraded shares of Murphy Oil from an "outperform" rating to a "neutral" rating and decreased their price objective for the company from $32.00 to $31.00 in a report on Tuesday, May 13th. Piper Sandler raised their price objective on shares of Murphy Oil from $30.00 to $32.00 and gave the stock an "overweight" rating in a research report on Thursday, August 14th. Scotiabank restated a "sector perform" rating and set a $26.00 price objective (up from $22.00) on shares of Murphy Oil in a research report on Friday, July 11th. Johnson Rice lowered shares of Murphy Oil from an "accumulate" rating to a "hold" rating in a research note on Wednesday, May 21st. Finally, Morgan Stanley lowered their target price on shares of Murphy Oil from $27.00 to $26.00 and set an "underweight" rating for the company in a research note on Friday, May 23rd. One research analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Murphy Oil currently has an average rating of "Reduce" and an average price target of $29.69.

Murphy Oil Stock Up 1.5%

NYSE:MUR traded up $0.38 during trading hours on Monday, hitting $25.31. The stock had a trading volume of 3,557,427 shares, compared to its average volume of 2,048,016. The company has a market cap of $3.61 billion, a PE ratio of 13.11 and a beta of 1.15. The company has a current ratio of 0.84, a quick ratio of 0.77 and a debt-to-equity ratio of 0.28. The business has a 50 day simple moving average of $24.50 and a two-hundred day simple moving average of $23.81. Murphy Oil Corporation has a 1-year low of $18.94 and a 1-year high of $36.63.

Murphy Oil (NYSE:MUR - Get Free Report) last released its earnings results on Wednesday, August 6th. The oil and gas producer reported $0.27 EPS 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%.The business's revenue was down 13.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.81 EPS. Analysts predict that Murphy Oil Corporation will post 2.94 EPS for the current year.

Murphy Oil Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were given a dividend of $0.325 per share. The ex-dividend date was Monday, August 18th. This represents a $1.30 dividend on an annualized basis and a yield of 5.1%. Murphy Oil's dividend payout ratio (DPR) is presently 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.