Oppenheimer Asset Management Inc. Purchases 26,563 Shares of Murphy Oil Corporation (NYSE:MUR)

Oppenheimer Asset Management Inc. raised its position in shares of Murphy Oil Corporation (NYSE:MUR - Free Report) by 14.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 214,258 shares of the oil and gas producer's stock after acquiring an additional 26,563 shares during the period. Oppenheimer Asset Management Inc. owned approximately 0.15% of Murphy Oil worth $6,085,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Cerity Partners LLC boosted its holdings in shares of Murphy Oil by 18.6% during the fourth quarter. Cerity Partners LLC now owns 9,576 shares of the oil and gas producer's stock worth $304,000 after acquiring an additional 1,503 shares during the period. Foundry Partners LLC raised its position in shares of Murphy Oil by 17.9% in the fourth quarter. Foundry Partners LLC now owns 227,680 shares of the oil and gas producer's stock valued at $6,890,000 after buying an additional 34,620 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Murphy Oil by 0.7% in the fourth quarter. Bank of New York Mellon Corp now owns 1,857,702 shares of the oil and gas producer's stock valued at $56,214,000 after buying an additional 13,263 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Murphy Oil in the fourth quarter valued at approximately $678,000. Finally, Sanctuary Advisors LLC acquired a new stake in shares of Murphy Oil in the fourth quarter valued at approximately $618,000. Institutional investors own 78.31% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on MUR shares. Piper Sandler dropped their price target on shares of Murphy Oil from $35.00 to $30.00 and set an "overweight" rating for the company in a research report on Tuesday, May 13th. Roth Capital downgraded shares of Murphy Oil from a "buy" rating to a "neutral" rating and dropped their price target for the company from $27.00 to $25.00 in a research report on Thursday, May 15th. Wells Fargo & Company dropped their price target on shares of Murphy Oil from $31.00 to $26.00 and set an "equal weight" rating for the company in a research report on Wednesday, May 14th. KeyCorp reiterated a "sector weight" rating on shares of Murphy Oil in a research report on Monday, April 21st. Finally, Morgan Stanley dropped their price target on shares of Murphy Oil from $27.00 to $26.00 and set an "underweight" rating for the company in a research report on Friday, May 23rd. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $29.23.

Murphy Oil Stock Down 2.3%

Shares of MUR opened at $22.80 on Wednesday. Murphy Oil Corporation has a one year low of $18.95 and a one year high of $43.02. The company has a market cap of $3.25 billion, a P/E ratio of 8.77 and a beta of 1.09. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.76 and a quick ratio of 0.69. The firm has a 50 day simple moving average of $22.14 and a two-hundred day simple moving average of $25.81.

Murphy Oil (NYSE:MUR - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The oil and gas producer reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.08. The company had revenue of $665.71 million during the quarter, compared to the consensus estimate of $684.89 million. Murphy Oil had a net margin of 13.47% and a return on equity of 6.81%. The company's revenue for the quarter was down 15.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.85 earnings per share. Research analysts forecast that Murphy Oil Corporation will post 2.94 EPS for the current fiscal year.

Murphy Oil Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Friday, May 16th were issued a dividend of $0.325 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a $1.30 annualized dividend and a dividend yield of 5.70%. Murphy Oil's dividend payout ratio (DPR) is presently 50.00%.

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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