Pacific Heights Asset Management LLC Has $11.25 Million Stock Position in Murphy Oil Corporation $MUR

Key Points

• Pacific Heights Asset Management LLC has increased its stake in Murphy Oil Corporation by 11.1% to hold 500,000 shares, valued at approximately $11.25 million.
• Analysts have mixed opinions on Murphy Oil, with Piper Sandler raising the price target to $34.00, while Zacks downgraded the stock to a "strong sell" rating.
• Murphy Oil recently announced a quarterly dividend of $0.325 per share, reflecting an annual yield of 4.8%.

Pacific Heights Asset Management LLC increased its position in shares of Murphy Oil Corporation (NYSE:MUR - Free Report) by 11.1% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 500,000 shares of the oil and gas producer's stock after acquiring an additional 50,000 shares during the period. Pacific Heights Asset Management LLC owned about 0.35% of Murphy Oil worth $11,250,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of MUR. Brooklyn Investment Group increased its holdings in Murphy Oil by 3,989.7% in the 1st quarter. Brooklyn Investment Group now owns 1,186 shares of the oil and gas producer's stock worth $34,000 after purchasing an additional 1,157 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Murphy Oil by 1,710.9% in 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 buying an additional 1,574 shares during the last quarter. Allworth Financial LP raised its holdings in Murphy Oil by 246.6% in the 1st quarter. Allworth Financial LP now owns 1,747 shares of the oil and gas producer's stock valued at $50,000 after buying an additional 1,243 shares during the last quarter. UMB Bank n.a. raised its holdings in Murphy Oil by 148.1% in the 2nd quarter. UMB Bank n.a. now owns 2,273 shares of the oil and gas producer's stock valued at $51,000 after buying an additional 1,357 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in Murphy Oil by 146.5% in the 1st quarter. GAMMA Investing LLC now owns 3,106 shares of the oil and gas producer's stock valued at $88,000 after buying an additional 1,846 shares during the last quarter. Institutional investors and hedge funds own 78.31% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on MUR shares. Piper Sandler raised their price objective on shares of Murphy Oil from $32.00 to $34.00 and gave the company an "overweight" rating in a report on Tuesday. Zacks Research lowered Murphy Oil from a "hold" rating to a "strong sell" rating in a research report on Monday, September 15th. Morgan Stanley reduced their price target on Murphy Oil from $28.00 to $27.00 and set an "underweight" rating on the stock in a research report on Tuesday, October 14th. Mizuho reduced their price target on Murphy Oil from $31.00 to $29.00 and set a "neutral" rating on the stock in a research report on Monday, September 15th. Finally, Evercore ISI reduced their price target on Murphy Oil from $23.00 to $22.00 and set an "in-line" rating on the stock in a research report on Monday, October 6th. One analyst has rated the stock with a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Reduce" and an average target price of $28.25.

Murphy Oil Stock Down 0.9%

Shares of Murphy Oil stock opened at $27.31 on Wednesday. Murphy Oil Corporation has a one year low of $18.94 and a one year high of $34.52. 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 stock's 50-day moving average is $26.53 and its 200 day moving average is $24.17. The firm has a market cap of $3.90 billion, a price-to-earnings ratio of 14.15 and a beta of 1.03.

Murphy Oil (NYSE:MUR - Get Free Report) last announced its earnings results on Monday, March 21st. The oil and gas producer reported ($0.09) EPS for the quarter. Murphy Oil had a net margin of 10.20% and a return on equity of 5.25%. The business had revenue of $440.08 million for the quarter. Equities research analysts anticipate that Murphy Oil Corporation will post 2.94 EPS for the current year.

Murphy Oil Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 17th will be given a dividend of $0.325 per share. The ex-dividend date is Monday, November 17th. This represents a $1.30 annualized dividend and a dividend yield of 4.8%. Murphy Oil's dividend payout ratio is presently 67.36%.

About Murphy Oil

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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