Comerica Bank trimmed its stake in Murphy Oil Corporation (NYSE:MUR - Free Report) by 19.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 94,198 shares of the oil and gas producer's stock after selling 22,242 shares during the period. Comerica Bank owned about 0.07% of Murphy Oil worth $2,675,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Riverview Trust Co acquired a new stake in Murphy Oil in the 1st quarter worth $26,000. Brooklyn Investment Group grew its position in Murphy Oil by 3,989.7% in the 1st quarter. Brooklyn Investment Group now owns 1,186 shares of the oil and gas producer's stock worth $34,000 after purchasing an additional 1,157 shares during the last quarter. Byrne Asset Management LLC acquired a new stake in Murphy Oil in the 1st quarter worth $44,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Murphy Oil by 1,710.9% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,666 shares of the oil and gas producer's stock worth $47,000 after purchasing an additional 1,574 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its position in shares of Murphy Oil by 177.8% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,725 shares of the oil and gas producer's stock valued at $49,000 after acquiring an additional 1,104 shares in the last quarter. 78.31% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
MUR has been the topic of several recent research reports. Morgan Stanley decreased their target price on shares of Murphy Oil from $27.00 to $26.00 and set an "underweight" rating on the stock in a research report on Friday, May 23rd. Barclays lifted their target price on shares of Murphy Oil from $22.00 to $23.00 and gave the company an "underweight" rating in a research report on Monday, July 7th. Piper Sandler lifted their target price 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. Roth Capital lowered shares of Murphy Oil from a "buy" rating to a "neutral" rating and decreased their target price for the company from $27.00 to $25.00 in a research report on Thursday, May 15th. Finally, Wells Fargo & Company set a $24.00 target price on shares of Murphy Oil and gave the company an "equal weight" rating in a research report on Thursday, June 26th. One investment analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Murphy Oil has an average rating of "Reduce" and an average price target of $29.69.
Check Out Our Latest Stock Report on Murphy Oil
Murphy Oil Price Performance
MUR stock traded up $0.53 during trading on Thursday, hitting $25.58. 829,442 shares of the stock traded hands, compared to its average volume of 2,845,167. 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 $3.65 billion, a price-to-earnings ratio of 13.25 and a beta of 1.15. The company has a 50 day simple moving average of $24.36 and a 200 day simple moving average of $23.92. 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 quarterly earnings results 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. Murphy Oil had a net margin of 10.20% and a return on equity of 5.25%. The firm had revenue of $695.57 million during the quarter, compared to the consensus estimate of $632.51 million. During the same period last year, the firm posted $0.81 EPS. The firm's quarterly revenue was down 13.4% on a year-over-year basis. Equities analysts expect that Murphy Oil Corporation will post 2.94 EPS for the current fiscal year.
Murphy Oil Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were paid a $0.325 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 5.1%. Murphy Oil's payout ratio is currently 67.36%.
About Murphy Oil
(
Free Report)
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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