New York State Teachers Retirement System Decreases Stake in Murphy Oil Corporation $MUR

Key Points

• The New York State Teachers Retirement System reduced its stake in Murphy Oil Corporation by 13.1% during the second quarter, owning approximately 181,500 shares worth around $4.08 million.
• Institutional investors hold a significant majority, owning 78.31% of Murphy Oil's stock, with several hedge funds increasing their positions in the first quarter.
• Murphy Oil recently announced a quarterly dividend of $0.325 per share, equating to a 4.7% dividend yield, with a payout ratio of 67.36%.

New York State Teachers Retirement System lessened its holdings in Murphy Oil Corporation (NYSE:MUR - Free Report) by 13.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 181,500 shares of the oil and gas producer's stock after selling 27,259 shares during the quarter. New York State Teachers Retirement System owned about 0.13% of Murphy Oil worth $4,084,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Dimensional Fund Advisors LP grew its stake in shares of Murphy Oil by 0.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 7,974,008 shares of the oil and gas producer's stock worth $226,461,000 after purchasing an additional 35,826 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Murphy Oil by 210.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 5,610,766 shares of the oil and gas producer's stock valued at $159,346,000 after purchasing an additional 3,805,565 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its holdings in 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. LSV Asset Management lifted its holdings 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 valued at $103,178,000 after purchasing an additional 825,746 shares in the last quarter. Finally, Earnest Partners LLC grew its holdings in shares of Murphy Oil by 3.6% in the first quarter. Earnest Partners LLC now owns 3,052,273 shares of the oil and gas producer's stock valued at $86,685,000 after purchasing an additional 106,720 shares during the period. Institutional investors and hedge funds own 78.31% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on MUR. Mizuho dropped their price objective on shares of Murphy Oil from $31.00 to $29.00 and set a "neutral" rating for the company in a report on Monday, September 15th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Murphy Oil in a research report on Wednesday, October 8th. UBS Group lifted their target price on Murphy Oil from $24.00 to $27.00 and gave the company a "neutral" rating in a research report on Tuesday, October 14th. Piper Sandler boosted their price objective on Murphy Oil from $30.00 to $32.00 and gave the stock an "overweight" rating in a research report on Thursday, August 14th. Finally, Morgan Stanley lowered their price objective on Murphy Oil from $28.00 to $27.00 and set an "underweight" rating for the company in a research report on Tuesday, October 14th. One investment analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Reduce" and a consensus target price of $28.08.

Murphy Oil Price Performance

Shares of NYSE MUR opened at $27.63 on Tuesday. 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 Corporation has a twelve month low of $18.94 and a twelve month high of $34.52. The stock has a 50 day moving average of $26.45 and a two-hundred day moving average of $24.15. The stock has a market cap of $3.94 billion, a P/E ratio of 14.32 and a beta of 1.03.

Murphy Oil (NYSE:MUR - Get Free Report) last released its quarterly earnings results on Monday, March 21st. The oil and gas producer reported ($0.09) EPS for the quarter. Murphy Oil had a return on equity of 5.25% and a net margin of 10.20%.The company had revenue of $440.08 million for the quarter. On average, research analysts forecast that Murphy Oil Corporation will post 2.94 earnings per share for the current 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 paid a dividend of $0.325 per share. This represents a $1.30 annualized dividend and a dividend yield of 4.7%. The ex-dividend date is Monday, November 17th. Murphy Oil's dividend payout ratio is 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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