Northern Trust Corp Purchases 107,871 Shares of Murphy Oil Co. (NYSE:MUR)

Northern Trust Corp grew its holdings in shares of Murphy Oil Co. (NYSE:MUR - Free Report) by 5.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,234,585 shares of the oil and gas producer's stock after purchasing an additional 107,871 shares during the quarter. Northern Trust Corp owned approximately 1.53% of Murphy Oil worth $67,619,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. LSV Asset Management lifted its position in shares of Murphy Oil by 4.3% in the fourth quarter. LSV Asset Management now owns 2,807,277 shares of the oil and gas producer's stock valued at $84,948,000 after acquiring an additional 114,656 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Murphy Oil by 0.7% in the 4th quarter. Bank of New York Mellon Corp now owns 1,857,702 shares of the oil and gas producer's stock worth $56,214,000 after purchasing an additional 13,263 shares during the period. Vaughan Nelson Investment Management L.P. grew its holdings in Murphy Oil by 91.6% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,751,737 shares of the oil and gas producer's stock valued at $53,008,000 after buying an additional 837,282 shares in the last quarter. American Century Companies Inc. grew its holdings in Murphy Oil by 20.4% during the 4th quarter. American Century Companies Inc. now owns 1,674,590 shares of the oil and gas producer's stock valued at $50,673,000 after buying an additional 283,695 shares in the last quarter. Finally, Cadence Bank raised its position in shares of Murphy Oil by 0.6% during the fourth quarter. Cadence Bank now owns 1,658,227 shares of the oil and gas producer's stock valued at $50,178,000 after buying an additional 9,800 shares during the last quarter. Institutional investors own 78.31% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on MUR shares. UBS Group cut their target price on shares of Murphy Oil from $28.00 to $23.00 and set a "neutral" rating for the company in a research note on Monday, April 7th. KeyCorp reaffirmed a "sector weight" rating on shares of Murphy Oil in a report on Monday, April 21st. Piper Sandler lifted their price objective on Murphy Oil from $34.00 to $35.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 22nd. Barclays lowered shares of Murphy Oil from an "equal weight" rating to an "underweight" rating and cut their target price for the company from $32.00 to $24.00 in a report on Wednesday, April 23rd. Finally, Morgan Stanley set a $27.00 price target on shares of Murphy Oil and gave the company an "underweight" rating in a research note on Tuesday, April 15th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Murphy Oil currently has an average rating of "Hold" and a consensus target price of $32.23.

Murphy Oil Trading Up 2.1 %

Shares of NYSE MUR opened at $21.05 on Wednesday. The business's 50 day moving average price is $23.75 and its 200-day moving average price is $28.19. Murphy Oil Co. has a fifty-two week low of $18.95 and a fifty-two week high of $45.30. 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 company has a market cap of $3.00 billion, a price-to-earnings ratio of 7.83 and a beta of 1.10.

Murphy Oil Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 6.18%. The ex-dividend date of this dividend is Friday, May 16th. Murphy Oil's dividend payout ratio is currently 48.33%.

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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