Murphy Oil Corporation $MUR Stock Position Lowered by Fisher Asset Management LLC

Key Points

• Fisher Asset Management cut its Murphy Oil stake by 7.5% in the fourth quarter, though it still held 1,033,207 shares worth about $32.3 million at the end of the period.
• Murphy Oil reported better-than-expected first-quarter earnings of $0.32 per share on revenue of $732.35 million, topping analyst estimates and showing 9% year-over-year revenue growth.
• The company declared a quarterly dividend of $0.35 per share, implying an annualized yield of 3.8%, while analysts currently maintain an overall Hold rating with an average price target of $36.36.

Fisher Asset Management LLC lessened its position in Murphy Oil Corporation (NYSE:MUR - Free Report) by 7.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,033,207 shares of the oil and gas producer's stock after selling 83,945 shares during the period. Fisher Asset Management LLC owned approximately 0.72% of Murphy Oil worth $32,288,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Smartleaf Asset Management LLC raised its position in shares of Murphy Oil by 67.3% during the third quarter. Smartleaf Asset Management LLC now owns 1,094 shares of the oil and gas producer's stock worth $32,000 after purchasing an additional 440 shares during the period. Torren Management LLC acquired a new stake in shares of Murphy Oil during the fourth quarter worth $37,000. Farther Finance Advisors LLC raised its position in shares of Murphy Oil by 72.9% during the fourth quarter. Farther Finance Advisors LLC now owns 1,701 shares of the oil and gas producer's stock worth $53,000 after purchasing an additional 717 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of Murphy Oil by 437.8% during the second quarter. EverSource Wealth Advisors LLC now owns 3,802 shares of the oil and gas producer's stock worth $86,000 after purchasing an additional 3,095 shares during the period. Finally, Strs Ohio raised its position in shares of Murphy Oil by 11.1% during the third quarter. Strs Ohio now owns 5,000 shares of the oil and gas producer's stock worth $142,000 after purchasing an additional 500 shares during the period. Institutional investors own 78.31% of the company's stock.

Murphy Oil Stock Performance

Shares of NYSE MUR opened at $36.49 on Wednesday. The business's 50-day moving average price is $39.18 and its two-hundred day moving average price is $34.52. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.83 and a quick ratio of 0.77. Murphy Oil Corporation has a one year low of $20.75 and a one year high of $43.34. The company has a market capitalization of $5.23 billion, a P/E ratio of 61.85 and a beta of 0.55.

Murphy Oil (NYSE:MUR - Get Free Report) last issued its earnings results on Wednesday, May 6th. The oil and gas producer reported $0.32 EPS for the quarter, beating analysts' consensus estimates of $0.29 by $0.03. Murphy Oil had a return on equity of 3.09% and a net margin of 3.02%.The firm had revenue of $732.35 million for the quarter, compared to the consensus estimate of $702.96 million. During the same quarter in the previous year, the company posted $0.56 earnings per share. The business's quarterly revenue was up 9.0% compared to the same quarter last year. Analysts anticipate that Murphy Oil Corporation will post 3.44 earnings per share for the current fiscal year.

Murphy Oil Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, May 18th will be paid a $0.35 dividend. The ex-dividend date is Monday, May 18th. This represents a $1.40 dividend on an annualized basis and a yield of 3.8%. Murphy Oil's payout ratio is 237.29%.

Insider Buying and Selling

In other Murphy Oil news, SVP Daniel R. Hanchera sold 47,320 shares of the business's stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $33.79, for a total value of $1,598,942.80. Following the transaction, the senior vice president owned 36,166 shares in the company, valued at $1,222,049.14. The trade was a 56.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 5.79% of the stock is owned by company insiders.

Analysts Set New Price Targets

MUR has been the topic of a number of recent analyst reports. Barclays boosted their target price on Murphy Oil from $36.00 to $43.00 and gave the stock an "equal weight" rating in a research report on Tuesday. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Murphy Oil in a research report on Friday, March 27th. The Goldman Sachs Group boosted their target price on Murphy Oil from $29.00 to $33.00 and gave the stock a "neutral" rating in a research report on Wednesday, March 11th. Scotiabank reaffirmed a "sector perform" rating and set a $44.00 target price on shares of Murphy Oil in a research report on Wednesday, May 13th. Finally, Wells Fargo & Company boosted their target price on Murphy Oil from $32.00 to $38.00 and gave the stock an "equal weight" rating in a research report on Thursday, March 26th. Two investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $36.36.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.