Neo Ivy Capital Management Increases Stake in Murphy Oil Co. (NYSE:MUR)

Neo Ivy Capital Management raised its stake in shares of Murphy Oil Co. (NYSE:MUR) by 597.6% in the third quarter, HoldingsChannel reports. The institutional investor owned 71,154 shares of the oil and gas producer’s stock after acquiring an additional 60,954 shares during the period. Neo Ivy Capital Management’s holdings in Murphy Oil were worth $2,400,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Quadrature Capital Ltd purchased a new stake in Murphy Oil during the 3rd quarter valued at approximately $1,217,000. Mutual of America Capital Management LLC grew its holdings in Murphy Oil by 21.2% during the 2nd quarter. Mutual of America Capital Management LLC now owns 218,739 shares of the oil and gas producer’s stock valued at $9,021,000 after buying an additional 38,334 shares in the last quarter. Oppenheimer Asset Management Inc. grew its holdings in Murphy Oil by 24.2% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 166,316 shares of the oil and gas producer’s stock valued at $6,859,000 after buying an additional 32,411 shares in the last quarter. Prospector Partners LLC grew its holdings in Murphy Oil by 50.5% during the 3rd quarter. Prospector Partners LLC now owns 307,092 shares of the oil and gas producer’s stock valued at $10,361,000 after buying an additional 103,092 shares in the last quarter. Finally, Cetera Investment Advisers purchased a new stake in Murphy Oil during the 1st quarter valued at approximately $1,700,000. 78.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. The Goldman Sachs Group cut their price objective on shares of Murphy Oil from $44.00 to $39.00 and set a “neutral” rating for the company in a report on Monday, October 7th. Mizuho lowered their target price on Murphy Oil from $59.00 to $50.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. Morgan Stanley lowered their target price on Murphy Oil from $43.00 to $39.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. Scotiabank lowered their target price on Murphy Oil from $47.00 to $36.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. Finally, Truist Financial lowered their target price on Murphy Oil from $55.00 to $42.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Ten research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Murphy Oil presently has an average rating of “Hold” and an average target price of $40.25.

Murphy Oil Stock Down 0.9 %

Shares of MUR opened at $30.27 on Wednesday. The company has a market cap of $4.41 billion, a PE ratio of 9.76 and a beta of 2.18. The business has a fifty day moving average of $32.92 and a 200 day moving average of $36.53. Murphy Oil Co. has a 52-week low of $29.84 and a 52-week high of $49.14. The company has a quick ratio of 0.65, a current ratio of 0.71 and a debt-to-equity ratio of 0.24.

Murphy Oil (NYSE:MUR) last released its earnings results on Thursday, November 7th. The oil and gas producer reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.02). Murphy Oil had a return on equity of 9.22% and a net margin of 14.78%. The business had revenue of $758.33 million for the quarter, compared to the consensus estimate of $759.74 million. During the same quarter last year, the business posted $1.59 earnings per share. The firm’s revenue for the quarter was down 21.0% compared to the same quarter last year. On average, sell-side analysts expect that Murphy Oil Co. will post 3.15 EPS for the current year.

Murphy Oil Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 18th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $1.20 annualized dividend and a dividend yield of 3.96%. Murphy Oil’s dividend payout ratio (DPR) is 38.71%.

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.