CoreCommodity Management LLC Has $6.98 Million Stock Position in Murphy Oil Co. (NYSE:MUR)

CoreCommodity Management LLC grew its stake in Murphy Oil Co. (NYSE:MUR - Free Report) by 19.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 230,492 shares of the oil and gas producer's stock after purchasing an additional 37,149 shares during the period. Murphy Oil makes up approximately 1.4% of CoreCommodity Management LLC's holdings, making the stock its 4th largest holding. CoreCommodity Management LLC owned approximately 0.16% of Murphy Oil worth $6,975,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Corigliano Investment Advisers LLC acquired a new position in Murphy Oil during the 4th quarter worth $11,023,000. Captrust Financial Advisors raised its stake in Murphy Oil by 4.5% during the 4th quarter. Captrust Financial Advisors now owns 18,838 shares of the oil and gas producer's stock worth $570,000 after buying an additional 805 shares during the period. Balyasny Asset Management L.P. raised its stake in Murphy Oil by 59.1% during the 4th quarter. Balyasny Asset Management L.P. now owns 19,077 shares of the oil and gas producer's stock worth $577,000 after buying an additional 7,087 shares during the period. Bayesian Capital Management LP raised its stake in Murphy Oil by 118.8% during the 4th quarter. Bayesian Capital Management LP now owns 51,756 shares of the oil and gas producer's stock worth $1,566,000 after buying an additional 28,100 shares during the period. Finally, Black Maple Capital Management LP bought a new position in Murphy Oil during the 4th quarter worth about $787,000. 78.31% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on MUR shares. Morgan Stanley set a $27.00 target price on Murphy Oil and gave the stock an "underweight" rating in a report on Tuesday, April 15th. Barclays decreased their price objective on Murphy Oil from $24.00 to $22.00 and set an "underweight" rating for the company in a report on Friday. Wells Fargo & Company restated an "equal weight" rating on shares of Murphy Oil in a report on Monday, February 3rd. Truist Financial cut Murphy Oil from a "buy" rating to a "hold" rating and decreased their price objective for the company from $42.00 to $31.00 in a report on Friday, January 31st. Finally, KeyCorp reiterated a "sector weight" rating on shares of Murphy Oil in a research note on Monday, April 21st. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $32.08.

Murphy Oil Stock Performance

Murphy Oil stock traded up $1.13 during mid-day trading on Monday, reaching $22.99. The company's stock had a trading volume of 1,443,537 shares, compared to its average volume of 2,166,527. Murphy Oil Co. has a 12-month low of $18.95 and a 12-month high of $44.73. The company has a market capitalization of $3.28 billion, a P/E ratio of 8.53 and a beta of 1.10. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.77 and a current ratio of 0.83. The firm's fifty day moving average price is $23.53 and its two-hundred day moving average price is $27.91.

Murphy Oil (NYSE:MUR - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The oil and gas producer reported $0.56 EPS for the quarter, beating analysts' consensus estimates of $0.48 by $0.08. Murphy Oil had a net margin of 13.44% and a return on equity of 7.66%. The firm had revenue of $665.71 million during the quarter, compared to analyst estimates of $684.89 million. During the same period in the previous year, the business earned $0.85 EPS. The business's revenue for the quarter was down 15.4% on a year-over-year basis. Sell-side analysts predict that Murphy Oil Co. will post 2.94 EPS for the current fiscal year.

Murphy Oil Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Friday, May 16th will be paid a dividend of $0.325 per share. This represents a $1.30 annualized dividend and a dividend yield of 5.66%. The ex-dividend date of this dividend is Friday, May 16th. Murphy Oil's dividend payout ratio (DPR) is 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.