Nuveen LLC Buys Shares of 570,025 Murphy Oil Corporation $MUR

Key Points

• Nuveen LLC has purchased 570,025 shares of Murphy Oil Corporation, totaling approximately $16.19 million, which represents a 0.40% stake in the company.
• Murphy Oil recently reported an earnings per share (EPS) of $0.27, exceeding analysts' expectations of $0.21, although their quarterly revenue has decreased by 13.4% year-over-year.
• The company has announced a quarterly dividend of $0.325 per share, set to be paid on September 2nd, with a dividend yield of 5.9% and a payout ratio of 67.36%.

Nuveen LLC bought a new stake in shares of Murphy Oil Corporation (NYSE:MUR - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 570,025 shares of the oil and gas producer's stock, valued at approximately $16,189,000. Nuveen LLC owned 0.40% of Murphy Oil as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of MUR. Riverview Trust Co acquired a new stake in shares of Murphy Oil during the 1st quarter valued at $26,000. GeoWealth Management LLC bought a new position in shares of Murphy Oil during the 4th quarter valued at $39,000. Byrne Asset Management LLC bought a new position in shares of Murphy Oil during the 1st quarter valued at $44,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Murphy Oil by 1,710.9% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,666 shares of the oil and gas producer's stock valued at $47,000 after purchasing an additional 1,574 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its holdings 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 purchasing an additional 1,104 shares in the last quarter. Institutional investors and hedge funds own 78.31% of the company's stock.

Murphy Oil Stock Performance

Shares of MUR opened at $22.22 on Thursday. The company has a market capitalization of $3.17 billion, a PE ratio of 11.51 and a beta of 1.13. Murphy Oil Corporation has a one year low of $18.94 and a one year high of $39.46. 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 fifty day moving average price is $24.33 and its 200 day moving average price is $24.11.

Murphy Oil (NYSE:MUR - Get Free Report) last announced its 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. The firm had revenue of $695.57 million for the quarter, compared to the consensus estimate of $632.51 million. Murphy Oil had a net margin of 10.20% and a return on equity of 5.25%. The business's quarterly revenue was down 13.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.81 EPS. As a group, analysts expect that Murphy Oil Corporation will post 2.94 earnings per share for the current year.

Murphy Oil Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th will be issued a dividend of $0.325 per share. The ex-dividend date is Monday, August 18th. This represents a $1.30 annualized dividend and a dividend yield of 5.9%. Murphy Oil's payout ratio is presently 67.36%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. UBS Group raised their price target on shares of Murphy Oil from $23.00 to $24.00 and gave the company a "neutral" rating in a report on Wednesday, August 13th. Roth Capital downgraded shares of Murphy Oil from a "buy" rating to a "neutral" rating and cut their price target for the company from $27.00 to $25.00 in a report on Thursday, May 15th. Morgan Stanley cut their price target on shares of Murphy Oil from $27.00 to $26.00 and set an "underweight" rating on the stock in a report on Friday, May 23rd. Piper Sandler raised their price target on shares of Murphy Oil from $30.00 to $32.00 and gave the company an "overweight" rating in a report on Thursday, August 14th. Finally, Mizuho downgraded shares of Murphy Oil from an "outperform" rating to a "neutral" rating and cut their price target for the company from $32.00 to $31.00 in a report on Tuesday, May 13th. One analyst has rated the stock with a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Reduce" and an average price target of $29.69.

Murphy Oil Company 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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