Corigliano Investment Advisers LLC Boosts Position in Murphy Oil Corporation $MUR

Key Points

• Corigliano Investment Advisers LLC increased its stake in Murphy Oil Corporation by 42.3%, holding a total of 518,520 shares, making it the firm's fourth largest investment.
• Murphy Oil reported $0.27 EPS for the last quarter, exceeding expectations, but experienced a 13.4% decline in revenue year-over-year, totaling $695.57 million.
• The company declared a quarterly dividend of $0.325 per share, translating to an annualized yield of 5.2%, with a current payout ratio of 67.36%.

Corigliano Investment Advisers LLC raised its holdings in Murphy Oil Corporation (NYSE:MUR - Free Report) by 42.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 518,520 shares of the oil and gas producer's stock after acquiring an additional 154,249 shares during the period. Murphy Oil comprises 6.5% of Corigliano Investment Advisers LLC's holdings, making the stock its 4th biggest holding. Corigliano Investment Advisers LLC owned approximately 0.36% of Murphy Oil worth $14,726,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MUR. Northern Trust Corp grew its position in Murphy Oil by 5.1% in the fourth quarter. Northern Trust Corp now owns 2,234,585 shares of the oil and gas producer's stock valued at $67,619,000 after acquiring an additional 107,871 shares during the last quarter. Jane Street Group LLC grew its position in Murphy Oil by 14.8% in the fourth quarter. Jane Street Group LLC now owns 232,630 shares of the oil and gas producer's stock valued at $7,039,000 after acquiring an additional 30,012 shares during the last quarter. AXA S.A. grew its position in Murphy Oil by 23.1% in the fourth quarter. AXA S.A. now owns 183,221 shares of the oil and gas producer's stock valued at $5,544,000 after acquiring an additional 34,353 shares during the last quarter. Ameriprise Financial Inc. grew its position in Murphy Oil by 61.9% in the fourth quarter. Ameriprise Financial Inc. now owns 2,147,590 shares of the oil and gas producer's stock valued at $64,986,000 after acquiring an additional 821,427 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its position in Murphy Oil by 44.4% in the fourth quarter. BNP Paribas Financial Markets now owns 54,483 shares of the oil and gas producer's stock valued at $1,649,000 after acquiring an additional 16,752 shares during the last quarter. Institutional investors own 78.31% of the company's stock.

Analyst Ratings Changes

MUR has been the topic of several research reports. Scotiabank restated a "sector perform" rating and set a $26.00 price target (up from $22.00) on shares of Murphy Oil in a report on Friday, July 11th. Roth Capital downgraded Murphy Oil from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $27.00 to $25.00 in a research note on Thursday, May 15th. Mizuho downgraded Murphy Oil from an "outperform" rating to a "neutral" rating and lowered their price objective for the company from $32.00 to $31.00 in a research note on Tuesday, May 13th. Johnson Rice downgraded Murphy Oil from an "accumulate" rating to a "hold" rating in a research note on Wednesday, May 21st. Finally, Morgan Stanley lowered their price objective on 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 analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, Murphy Oil presently has an average rating of "Reduce" and a consensus price target of $29.69.

Murphy Oil Trading Up 1.5%

MUR stock traded up $0.38 during trading on Monday, hitting $25.31. The company had a trading volume of 3,557,427 shares, compared to its average volume of 2,854,680. The business has a 50-day moving average of $24.45 and a 200-day moving average of $23.82. Murphy Oil Corporation has a one year low of $18.94 and a one year high of $36.63. The stock 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.

Murphy Oil (NYSE:MUR - Get Free Report) last announced 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 business had revenue of $695.57 million for 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 firm'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 earnings per share. Research analysts predict that Murphy Oil Corporation will post 2.94 earnings per share for the current fiscal year.

Murphy Oil Announces Dividend

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