16,308 Shares in Murphy Oil Corporation $MUR Purchased by Pallas Capital Advisors LLC

Key Points

• Pallas Capital Advisors LLC acquired 16,308 shares of Murphy Oil Corporation, valued at approximately $367,000, indicating growing interest from institutional investors.
• Murphy Oil's stock is currently trading at $26.55 with a market capitalization of $3.79 billion and a recent decline of 1.8% in value.
• The company recently announced a quarterly dividend of $0.325 per share, translating to an annual yield of 4.9%, reflecting its commitment to returning value to shareholders.

Pallas Capital Advisors LLC bought a new position in shares of Murphy Oil Corporation (NYSE:MUR - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 16,308 shares of the oil and gas producer's stock, valued at approximately $367,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MUR. Charles Schwab Investment Management Inc. increased its holdings in shares of Murphy Oil by 210.8% in the first 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 during the period. Hotchkis & Wiley Capital Management LLC grew its position in shares of Murphy Oil by 72.9% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 4,812,267 shares of the oil and gas producer's stock worth $136,668,000 after acquiring an additional 2,029,685 shares during the last quarter. Pacer Advisors Inc. increased its holdings in shares of Murphy Oil by 8,530.7% during the first quarter. Pacer Advisors Inc. now owns 1,763,345 shares of the oil and gas producer's stock valued at $50,079,000 after purchasing an additional 1,742,914 shares during the period. AQR Capital Management LLC raised its position in Murphy Oil by 111.6% in the first quarter. AQR Capital Management LLC now owns 2,157,707 shares of the oil and gas producer's stock worth $61,279,000 after acquiring an additional 1,137,882 shares in the last quarter. Finally, LSV Asset Management raised its stake in Murphy Oil by 29.4% during 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 during the period. Institutional investors and hedge funds own 78.31% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Zacks Research lowered shares of Murphy Oil from a "hold" rating to a "strong sell" rating in a research note on Monday, September 15th. Wells Fargo & Company set a $24.00 target price on shares of Murphy Oil and gave the stock an "equal weight" rating in a research note on Thursday, June 26th. Barclays upped their target price on Murphy Oil from $22.00 to $23.00 and gave the stock an "underweight" rating in a report on Monday, July 7th. Piper Sandler increased their target price on Murphy Oil from $30.00 to $32.00 and gave the stock an "overweight" rating in a report on Thursday, August 14th. Finally, Mizuho decreased their price target on Murphy Oil from $31.00 to $29.00 and set a "neutral" rating for the company in a research report on Monday, September 15th. One investment analyst has rated the stock with a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Reduce" and a consensus target price of $29.54.

Murphy Oil Stock Up 2.3%

Shares of NYSE:MUR traded up $0.60 during trading on Monday, reaching $27.14. 1,846,083 shares of the stock traded hands, compared to its average volume of 2,242,012. The stock has a 50-day moving average of $24.78 and a two-hundred day moving average of $23.85. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.77 and a current ratio of 0.84. Murphy Oil Corporation has a 52-week low of $18.94 and a 52-week high of $36.63. The stock has a market cap of $3.87 billion, a P/E ratio of 14.06 and a beta of 1.15.

Murphy Oil (NYSE:MUR - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The oil and gas producer reported $0.27 EPS for the quarter, topping analysts' consensus estimates of $0.21 by $0.06. Murphy Oil had a return on equity of 5.25% and a net margin of 10.20%.The business had revenue of $695.57 million during the quarter, compared to analysts' expectations of $632.51 million. During the same quarter in the prior year, the business posted $0.81 earnings per share. The business's quarterly revenue was down 13.4% on a year-over-year basis. As a group, sell-side analysts expect that Murphy Oil Corporation will post 2.94 earnings per share for the current fiscal year.

Murphy Oil Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were issued a $0.325 dividend. The ex-dividend date was Monday, August 18th. This represents a $1.30 dividend on an annualized basis and a yield of 4.8%. Murphy Oil's payout ratio is currently 67.36%.

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.