US Bancorp DE Buys 18,346 Shares of Murphy Oil Corporation (NYSE:MUR)

Key Points

• US Bancorp DE increased its stake in Murphy Oil Corporation by 33.2%, now owning approximately 73,640 shares worth about $2,091,000.
• Murphy Oil reported an earnings per share (EPS) of $0.27 for the last quarter, surpassing estimates of $0.21, despite a 13.4% decline in revenue year-over-year.
• Murphy Oil announced a dividend of $0.325 per share with an annual yield of 5.7%, reflecting a payout ratio of 50%.

US Bancorp DE increased its position in Murphy Oil Corporation (NYSE:MUR - Free Report) by 33.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,640 shares of the oil and gas producer's stock after purchasing an additional 18,346 shares during the period. US Bancorp DE owned approximately 0.05% of Murphy Oil worth $2,091,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Riverview Trust Co bought a new stake in Murphy Oil in the 1st quarter worth about $26,000. GeoWealth Management LLC bought a new position in Murphy Oil in the fourth quarter worth approximately $39,000. Byrne Asset Management LLC purchased a new position in Murphy Oil during the first quarter valued at $44,000. MassMutual Private Wealth & Trust FSB lifted its position 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 buying an additional 1,104 shares in the last quarter. Finally, Allworth Financial LP boosted its position in shares of Murphy Oil by 246.6% in the first quarter. Allworth Financial LP now owns 1,747 shares of the oil and gas producer's stock worth $50,000 after purchasing an additional 1,243 shares during the period. Hedge funds and other institutional investors own 78.31% of the company's stock.

Analyst Upgrades and Downgrades

MUR has been the subject of several research analyst reports. Scotiabank reiterated a "sector perform" rating and set a $26.00 target price (up previously from $22.00) on shares of Murphy Oil in a research report on Friday, July 11th. Johnson Rice downgraded shares of Murphy Oil from an "accumulate" rating to a "hold" rating in a report on Wednesday, May 21st. KeyCorp reaffirmed a "sector weight" rating on shares of Murphy Oil in a research note on Monday, April 21st. Piper Sandler cut their target price on Murphy Oil from $35.00 to $30.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 13th. Finally, Morgan Stanley reduced their price target on shares of Murphy Oil from $27.00 to $26.00 and set an "underweight" rating on the stock in a research note on Friday, May 23rd. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $29.46.

Murphy Oil Trading Down 3.5%

NYSE:MUR opened at $22.80 on Friday. Murphy Oil Corporation has a 52 week low of $18.94 and a 52 week high of $39.46. The firm has a 50 day moving average of $24.25 and a 200 day moving average of $24.52. The company has a quick ratio of 0.69, a current ratio of 0.76 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $3.25 billion, a price-to-earnings ratio of 11.81 and a beta of 1.13.

Murphy Oil (NYSE:MUR - Get Free Report) last announced its quarterly earnings data 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. Murphy Oil had a net margin of 10.20% and a return on equity of 5.26%. The firm had revenue of $695.57 million during the quarter, compared to analyst estimates of $632.51 million. During the same period last year, the firm posted $0.81 EPS. Murphy Oil's revenue was down 13.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Murphy Oil Corporation will post 2.94 earnings per share for the current fiscal year.

Murphy Oil Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders 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 5.7%. The ex-dividend date is Monday, August 18th. Murphy Oil's payout ratio 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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