Renaissance Technologies LLC Has $3.27 Million Position in Murphy Oil Co. (NYSE:MUR)

Renaissance Technologies LLC raised its holdings in Murphy Oil Co. (NYSE:MUR - Free Report) by 74.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 108,100 shares of the oil and gas producer's stock after purchasing an additional 46,000 shares during the quarter. Renaissance Technologies LLC owned 0.07% of Murphy Oil worth $3,271,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Barclays PLC boosted its stake in shares of Murphy Oil by 399.4% in the third quarter. Barclays PLC now owns 1,012,944 shares of the oil and gas producer's stock worth $34,177,000 after acquiring an additional 810,104 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Murphy Oil by 26.7% in the third quarter. JPMorgan Chase & Co. now owns 1,595,260 shares of the oil and gas producer's stock valued at $53,824,000 after buying an additional 336,372 shares in the last quarter. Everence Capital Management Inc. acquired a new position in Murphy Oil during the 4th quarter worth $276,000. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Murphy Oil by 21.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 7,881 shares of the oil and gas producer's stock valued at $238,000 after acquiring an additional 1,379 shares during the last quarter. Finally, Harbor Capital Advisors Inc. raised its holdings in Murphy Oil by 1.8% during the fourth quarter. Harbor Capital Advisors Inc. now owns 25,069 shares of the oil and gas producer's stock worth $759,000 after purchasing an additional 450 shares in the last quarter. 78.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Murphy Oil

In other Murphy Oil news, VP Meenambigai Palanivelu acquired 1,573 shares of the business's stock in a transaction on Wednesday, February 5th. The stock was purchased at an average price of $26.70 per share, with a total value of $41,999.10. Following the acquisition, the vice president now directly owns 37,065 shares of the company's stock, valued at approximately $989,635.50. This trade represents a 4.43 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Claiborne P. Deming bought 50,000 shares of the company's stock in a transaction dated Tuesday, February 4th. The stock was purchased at an average price of $26.47 per share, with a total value of $1,323,500.00. Following the completion of the transaction, the director now directly owns 931,651 shares in the company, valued at approximately $24,660,801.97. This represents a 5.67 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 6.52% of the company's stock.

Murphy Oil Stock Down 1.6 %

Shares of NYSE:MUR traded down $0.33 on Tuesday, reaching $20.88. The company had a trading volume of 165,990 shares, compared to its average volume of 2,081,170. Murphy Oil Co. has a twelve month low of $18.95 and a twelve month high of $46.91. The company has a quick ratio of 0.77, a current ratio of 0.83 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $2.98 billion, a P/E ratio of 7.73 and a beta of 1.68. The stock has a 50-day moving average price of $24.52 and a 200 day moving average price of $28.67.

Murphy Oil (NYSE:MUR - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The oil and gas producer reported $0.35 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.62 by ($0.27). Murphy Oil had a net margin of 13.44% and a return on equity of 7.66%. During the same period in the prior year, the firm earned $0.90 EPS. On average, equities analysts expect that Murphy Oil Co. will post 2.94 EPS for the current year.

Murphy Oil Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Friday, May 16th will be paid a dividend of $0.325 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $1.30 dividend on an annualized basis and a yield of 6.23%. Murphy Oil's payout ratio is 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.