Murphy Oil Corporation $MUR Shares Acquired by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments Co. Ltd. increased its stake in Murphy Oil Corporation by 10.1%, owning 124,614 shares valued at approximately $2.8 million as of the last SEC filing.
• Several institutional investors, including Brooklyn Investment Group and Mitsubishi UFJ Asset Management, made significant increases in their holdings, with Brooklyn's stake climbing by 3,989.7%.
• Murphy Oil reported a quarterly EPS of $0.27 which exceeded analysts' expectations, despite a 13.4% decline in revenue compared to the same quarter last year.

Mirae Asset Global Investments Co. Ltd. grew its stake in Murphy Oil Corporation (NYSE:MUR - Free Report) by 10.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 124,614 shares of the oil and gas producer's stock after buying an additional 11,470 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned 0.09% of Murphy Oil worth $2,804,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. 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. Allworth Financial LP boosted its holdings in Murphy Oil by 246.6% during the first quarter. Allworth Financial LP now owns 1,747 shares of the oil and gas producer's stock worth $50,000 after buying an additional 1,243 shares in the last quarter. Finally, UMB Bank n.a. grew its holdings in Murphy Oil by 148.1% in the second quarter. UMB Bank n.a. now owns 2,273 shares of the oil and gas producer's stock valued at $51,000 after purchasing an additional 1,357 shares during the period. Institutional investors and hedge funds own 78.31% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on MUR shares. Zacks Research lowered Murphy Oil from a "hold" rating to a "strong sell" rating in a report on Monday, September 15th. Piper Sandler boosted their target price on shares of Murphy Oil from $30.00 to $32.00 and gave the stock an "overweight" rating in a research note on Thursday, August 14th. Mizuho cut their target price on shares of Murphy Oil from $31.00 to $29.00 and set a "neutral" rating for the company in a research note on Monday, September 15th. Evercore ISI cut their target price on shares of Murphy Oil from $23.00 to $22.00 and set an "in-line" rating for the company in a research note on Monday. Finally, Weiss Ratings reissued a "hold (c-)" rating on shares of Murphy Oil in a research note on Saturday, September 27th. 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. Based on data from MarketBeat.com, Murphy Oil has an average rating of "Reduce" and a consensus target price of $27.25.

Murphy Oil Trading Down 1.8%

MUR opened at $30.12 on Wednesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.84 and a quick ratio of 0.77. The company's 50 day simple moving average is $25.64 and its two-hundred day simple moving average is $24.13. Murphy Oil Corporation has a 1-year low of $18.94 and a 1-year high of $36.24. The firm has a market capitalization of $4.30 billion, a price-to-earnings ratio of 15.61 and a beta of 1.03.

Murphy Oil (NYSE:MUR - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The oil and gas producer reported $0.27 EPS for the quarter, topping the consensus estimate of $0.21 by $0.06. Murphy Oil had a return on equity of 5.25% and a net margin of 10.20%.The business had revenue of $695.57 million for the quarter, compared to analyst estimates of $632.51 million. During the same quarter in the previous year, the firm earned $0.81 EPS. The company's quarterly revenue was down 13.4% compared to the same quarter last year. Analysts expect that Murphy Oil Corporation will post 2.94 EPS for the current fiscal year.

Murphy Oil Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 17th will be issued a dividend of $0.325 per share. This represents a $1.30 annualized dividend and a dividend yield of 4.3%. The ex-dividend date is Monday, November 17th. Murphy Oil's payout ratio is currently 67.36%.

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.

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