Harbor Capital Advisors Inc. Has $4.32 Million Position in Murphy Oil Corporation $MUR

Key Points

• Harbor Capital Advisors Inc. increased its stake in Murphy Oil Corporation by 42.1%, owning approximately 0.13% of the company worth $4.3 million as of their latest SEC filing.
• Murphy Oil reported earnings of $0.27 per share, surpassing analysts' expectations, with total revenue of $695.57 million for the quarter, although down 13.4% year-over-year.
• The company recently declared a quarterly dividend of $0.325 per share, reflecting a 4.7% annual dividend yield, with a payout ratio of 67.36%.

Harbor Capital Advisors Inc. raised its holdings in shares of Murphy Oil Corporation (NYSE:MUR - Free Report) by 42.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 191,903 shares of the oil and gas producer's stock after acquiring an additional 56,888 shares during the period. Harbor Capital Advisors Inc. owned approximately 0.13% of Murphy Oil worth $4,318,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Charles Schwab Investment Management Inc. increased its stake in shares of Murphy Oil by 210.8% during the first 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 buying an additional 3,805,565 shares during the period. Hotchkis & Wiley Capital Management LLC raised its position in shares of 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 valued at $136,668,000 after purchasing an additional 2,029,685 shares in the last quarter. Pacer Advisors Inc. grew its stake in Murphy Oil by 8,530.7% during the 1st quarter. Pacer Advisors Inc. now owns 1,763,345 shares of the oil and gas producer's stock worth $50,079,000 after buying an additional 1,742,914 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Murphy Oil by 111.6% during the first quarter. AQR Capital Management LLC now owns 2,157,707 shares of the oil and gas producer's stock valued at $61,279,000 after purchasing an additional 1,137,882 shares during the last quarter. Finally, LSV Asset Management increased its position 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 purchasing an additional 825,746 shares during the last quarter. Hedge funds and other institutional investors own 78.31% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on MUR shares. UBS Group lifted their price objective on Murphy Oil from $23.00 to $24.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 13th. Barclays lifted their price objective on Murphy Oil from $22.00 to $23.00 and gave the stock an "underweight" rating in a research report on Monday, July 7th. Zacks Research cut shares of Murphy Oil from a "hold" rating to a "strong sell" rating in a report on Monday, September 15th. Piper Sandler upped their price target on shares of Murphy Oil from $30.00 to $32.00 and gave the company an "overweight" rating in a research report on Thursday, August 14th. Finally, Wells Fargo & Company set a $24.00 target price on shares of Murphy Oil and gave the stock an "equal weight" rating in a report on Thursday, June 26th. One analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Reduce" and an average target price of $29.54.

Murphy Oil Price Performance

NYSE:MUR traded down $0.48 during trading hours on Friday, hitting $26.55. 4,577,631 shares of the company's stock traded hands, compared to its average volume of 2,131,907. Murphy Oil Corporation has a 52 week low of $18.94 and a 52 week high of $36.63. The company has a quick ratio of 0.77, a current ratio of 0.84 and a debt-to-equity ratio of 0.28. The business's fifty day simple moving average is $24.76 and its two-hundred day simple moving average is $23.84. The firm has a market cap of $3.79 billion, a P/E ratio of 13.76 and a beta of 1.15.

Murphy Oil (NYSE:MUR - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The oil and gas producer reported $0.27 earnings per share (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 quarterly revenue was down 13.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.81 EPS. On average, research analysts anticipate that Murphy Oil Corporation will post 2.94 earnings per share for the current fiscal year.

Murphy Oil Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were issued a $0.325 dividend. This represents a $1.30 annualized dividend and a yield of 4.9%. The ex-dividend date was Monday, August 18th. Murphy Oil's dividend payout ratio (DPR) is 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.