Nuveen LLC Takes Position in 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 acquired a new stake in shares of Murphy Oil Corporation (NYSE:MUR - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 570,025 shares of the oil and gas producer's stock, valued at approximately $16,189,000. Nuveen LLC owned approximately 0.40% of Murphy Oil as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fifth Third Bancorp grew its position in Murphy Oil by 2.8% in the first quarter. Fifth Third Bancorp now owns 18,060 shares of the oil and gas producer's stock worth $513,000 after acquiring an additional 499 shares in the last quarter. Penserra Capital Management LLC grew its position in Murphy Oil by 3.2% in the first quarter. Penserra Capital Management LLC now owns 17,367 shares of the oil and gas producer's stock worth $493,000 after acquiring an additional 532 shares in the last quarter. Captrust Financial Advisors grew its position in Murphy Oil by 4.5% in the fourth quarter. Captrust Financial Advisors now owns 18,838 shares of the oil and gas producer's stock worth $570,000 after acquiring an additional 805 shares in the last quarter. Riverview Trust Co bought a new stake in Murphy Oil in the first quarter worth approximately $26,000. Finally, Mariner LLC grew its position in Murphy Oil by 3.8% in the fourth quarter. Mariner LLC now owns 28,585 shares of the oil and gas producer's stock worth $865,000 after acquiring an additional 1,036 shares in the last quarter. 78.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MUR has been the subject of several recent research reports. Roth Capital downgraded shares of Murphy Oil from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $27.00 to $25.00 in a research report on Thursday, May 15th. Piper Sandler boosted their price objective on shares of Murphy Oil from $30.00 to $32.00 and gave the stock an "overweight" rating in a research note on Thursday, August 14th. UBS Group boosted their price objective on shares of Murphy Oil from $23.00 to $24.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 13th. Johnson Rice cut shares of Murphy Oil from an "accumulate" rating to a "hold" rating in a research note on Wednesday, May 21st. Finally, Barclays boosted their price objective on shares of Murphy Oil from $22.00 to $23.00 and gave the stock an "underweight" rating in a research note on Monday, July 7th. One equities research analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Reduce" and an average target price of $29.69.

Murphy Oil Stock Performance

NYSE:MUR traded down $0.45 during trading hours on Tuesday, hitting $23.93. 2,352,466 shares of the company traded hands, compared to its average volume of 2,352,334. The stock has a market capitalization of $3.42 billion, a price-to-earnings ratio of 12.40 and a beta of 1.13. Murphy Oil Corporation has a twelve month low of $18.94 and a twelve month high of $38.67. The firm has a 50-day moving average of $24.23 and a 200 day moving average of $24.03. 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 released its earnings results on Wednesday, August 6th. The oil and gas producer reported $0.27 EPS for the quarter, beating the consensus estimate of $0.21 by $0.06. The firm had revenue of $695.57 million during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same period in the prior year, the company earned $0.81 EPS. On average, analysts forecast that Murphy Oil Corporation will post 2.94 EPS for the current year.

Murphy Oil Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Monday, August 18th will be paid a dividend of $0.325 per share. This represents a $1.30 annualized dividend and a yield of 5.4%. The ex-dividend date is Monday, August 18th. Murphy Oil's dividend payout ratio is presently 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.