Murphy Oil Corporation $MUR Position Increased by Bank of America Corp DE

Key Points

• Bank of America increased its Murphy Oil stake by 3.4% in the first quarter, bringing its holdings to 1.84 million shares valued at approximately $75.7 million. Institutional investors collectively own 78.31% of the company.
• Murphy Oil reported quarterly revenue of $926.3 million, up 33.5% year over year, but earnings per share of $1.55 narrowly missed analyst expectations of $1.57.
• The company declared a quarterly dividend of $0.35 per share, equivalent to a 4.2% annual yield. Analysts maintain a consensus “Hold” rating with a $38.08 price target, compared with the stock’s $33.36 opening price.

Bank of America Corp DE grew its position in Murphy Oil Corporation (NYSE:MUR - Free Report) by 3.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,836,056 shares of the oil and gas producer's stock after buying an additional 60,190 shares during the quarter. Bank of America Corp DE owned approximately 1.28% of Murphy Oil worth $75,737,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in MUR. Pacific Heights Asset Management LLC raised its position in Murphy Oil by 10.0% during the fourth quarter. Pacific Heights Asset Management LLC now owns 550,000 shares of the oil and gas producer's stock valued at $17,188,000 after buying an additional 50,000 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in Murphy Oil during the 1st quarter valued at about $1,745,000. State of Alaska Department of Revenue increased its holdings in shares of Murphy Oil by 138.2% in the 4th quarter. State of Alaska Department of Revenue now owns 34,936 shares of the oil and gas producer's stock valued at $1,090,000 after purchasing an additional 20,271 shares during the period. Flax Pond Capital LLC acquired a new position in shares of Murphy Oil in the 4th quarter valued at about $6,967,000. Finally, First Trust Advisors LP lifted its position in shares of Murphy Oil by 24.8% in the first quarter. First Trust Advisors LP now owns 942,927 shares of the oil and gas producer's stock worth $38,896,000 after purchasing an additional 187,610 shares in the last quarter. 78.31% of the stock is owned by hedge funds and other institutional investors.

Murphy Oil Stock Down 0.0%

MUR opened at $33.36 on Monday. The business has a 50 day moving average of $36.15 and a 200-day moving average of $36.25. The stock has a market capitalization of $4.78 billion, a price-to-earnings ratio of 16.51 and a beta of 0.50. 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 1-year low of $21.86 and a 1-year high of $43.34.

Murphy Oil (NYSE:MUR - Get Free Report) last announced its earnings results on Wednesday, August 5th. The oil and gas producer reported $1.55 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.57 by ($0.02). The company had revenue of $926.33 million for the quarter, compared to the consensus estimate of $888.51 million. Murphy Oil had a return on equity of 6.63% and a net margin of 9.74%.The company's revenue was up 33.5% compared to the same quarter last year. During the same period last year, the firm posted $0.27 EPS. As a group, sell-side analysts anticipate that Murphy Oil Corporation will post 2.93 earnings per share for the current year.

Murphy Oil Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th will be issued a dividend of $0.35 per share. The ex-dividend date is Monday, August 17th. This represents a $1.40 annualized dividend and a dividend yield of 4.2%. Murphy Oil's payout ratio is presently 69.31%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. UBS Group cut their price objective on Murphy Oil from $41.00 to $38.00 and set a "neutral" rating for the company in a report on Friday. Barclays boosted their target price on Murphy Oil from $36.00 to $43.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 26th. Jefferies Financial Group lowered Murphy Oil from a "buy" rating to an "underperform" rating in a research report on Thursday, June 4th. KeyCorp raised Murphy Oil from a "sector weight" rating to an "overweight" rating and set a $48.00 price target for the company in a research note on Thursday, June 4th. Finally, Scotiabank reiterated a "sector perform" rating and set a $44.00 price target on shares of Murphy Oil in a report on Wednesday, May 13th. Three analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $38.08.

Murphy Oil Profile

Murphy Oil Corporation is an independent upstream oil and gas company engaged in the exploration, development and production of crude oil, natural gas and natural gas liquids. The company's operations encompass conventional onshore and offshore reservoirs, with an emphasis on liquids-rich properties and deepwater assets. Through a combination of proprietary technologies and strategic joint ventures, Murphy Oil seeks to optimize recovery rates and manage its portfolio to balance long-term resource development with operational flexibility.

Murphy Oil's exploration and production activities are geographically diversified.

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