Murphy Oil Corporation $MUR Shares Acquired by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC increased its stake in Murphy Oil Corporation by 11.4% in the first quarter, owning 0.09% of the company valued at approximately $3.85 million.
• Murphy Oil reported $0.27 earnings per share (EPS) for the last quarter, exceeding expectations, but its quarterly revenue decreased by 13.4% compared to the previous year.
• The company declared a quarterly dividend of $0.325 per share, yielding 5.4%, with the payment scheduled for September 2nd to investors of record on August 18th.

Hsbc Holdings PLC lifted its stake in Murphy Oil Corporation (NYSE:MUR - Free Report) by 11.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 134,575 shares of the oil and gas producer's stock after purchasing an additional 13,759 shares during the period. Hsbc Holdings PLC owned about 0.09% of Murphy Oil worth $3,851,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Brooklyn Investment Group raised its holdings in shares of Murphy Oil by 3,989.7% in the first quarter. Brooklyn Investment Group now owns 1,186 shares of the oil and gas producer's stock valued at $34,000 after acquiring an additional 1,157 shares in the last quarter. Summit Securities Group LLC bought a new stake in shares of Murphy Oil in the first quarter valued at about $215,000. Raymond James Financial Inc. raised its holdings in shares of Murphy Oil by 1.4% in the first quarter. Raymond James Financial Inc. now owns 128,917 shares of the oil and gas producer's stock valued at $3,661,000 after acquiring an additional 1,811 shares in the last quarter. Cresset Asset Management LLC raised its holdings in shares of Murphy Oil by 4.4% in the first quarter. Cresset Asset Management LLC now owns 26,830 shares of the oil and gas producer's stock valued at $762,000 after acquiring an additional 1,141 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of Murphy Oil by 26.5% in the first quarter. American Century Companies Inc. now owns 2,117,660 shares of the oil and gas producer's stock valued at $60,142,000 after acquiring an additional 443,070 shares in the last quarter. 78.31% of the stock is currently owned by institutional investors.

Murphy Oil Stock Up 0.7%

NYSE:MUR traded up $0.18 during mid-day trading on Monday, hitting $24.93. 1,395,750 shares of the company's stock traded hands, compared to its average volume of 2,286,989. The company has a fifty day moving average of $24.25 and a 200 day moving average of $23.90. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.77 and a current ratio of 0.84. Murphy Oil Corporation has a twelve month low of $18.94 and a twelve month high of $38.08. The company has a market capitalization of $3.56 billion, a P/E ratio of 12.92 and a beta of 1.15.

Murphy Oil (NYSE:MUR - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The oil and gas producer reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.06. The business had revenue of $695.57 million during the quarter, compared to the consensus estimate of $632.51 million. Murphy Oil had a return on equity of 5.25% and a net margin of 10.20%.The company's quarterly revenue was down 13.4% on a year-over-year basis. During the same quarter last year, the company earned $0.81 earnings per share. On average, analysts forecast that Murphy Oil Corporation will post 2.94 EPS for the current year.

Murphy Oil Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th will be issued a $0.325 dividend. This represents a $1.30 annualized dividend and a yield of 5.2%. The ex-dividend date of this dividend is Monday, August 18th. Murphy Oil's dividend payout ratio (DPR) is currently 67.36%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on MUR shares. Mizuho downgraded 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. Johnson Rice downgraded Murphy Oil from an "accumulate" rating to a "hold" rating in a report on Wednesday, May 21st. Morgan Stanley decreased their price objective on Murphy Oil from $27.00 to $26.00 and set an "underweight" rating for the company in a report on Friday, May 23rd. Piper Sandler raised their price objective on Murphy Oil from $30.00 to $32.00 and gave the company an "overweight" rating in a research report on Thursday, August 14th. Finally, Scotiabank reaffirmed a "sector perform" rating and set a $26.00 price objective (up previously from $22.00) on shares of Murphy Oil in a research report on Friday, July 11th. One investment analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Reduce" and a consensus target price of $29.69.

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.