Bruce G. Allen Investments LLC Raises Stock Position in Murphy Oil Co. (NYSE:MUR)

Bruce G. Allen Investments LLC grew its stake in shares of Murphy Oil Co. (NYSE:MUR) by 106.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,470 shares of the oil and gas producer’s stock after purchasing an additional 758 shares during the period. Bruce G. Allen Investments LLC’s holdings in Murphy Oil were worth $50,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Signaturefd LLC grew its stake in shares of Murphy Oil by 14.5% in the 2nd quarter. Signaturefd LLC now owns 2,441 shares of the oil and gas producer’s stock worth $101,000 after buying an additional 310 shares during the last quarter. CWM LLC increased its stake in Murphy Oil by 14.0% during the 1st quarter. CWM LLC now owns 2,547 shares of the oil and gas producer’s stock valued at $116,000 after purchasing an additional 313 shares in the last quarter. State of Michigan Retirement System raised its holdings in Murphy Oil by 1.1% in the first quarter. State of Michigan Retirement System now owns 35,647 shares of the oil and gas producer’s stock worth $1,629,000 after buying an additional 400 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Murphy Oil by 16.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,140 shares of the oil and gas producer’s stock worth $129,000 after buying an additional 438 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. grew its holdings in shares of Murphy Oil by 27.0% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 2,105 shares of the oil and gas producer’s stock valued at $96,000 after buying an additional 447 shares during the last quarter. 78.31% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on MUR shares. Barclays lowered their price objective on shares of Murphy Oil from $46.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 3rd. UBS Group reduced their price objective on Murphy Oil from $45.00 to $39.00 and set a “neutral” rating for the company in a research report on Wednesday, September 18th. JPMorgan Chase & Co. reduced their price target on shares of Murphy Oil from $47.00 to $39.00 and set a “neutral” rating for the company in a research report on Thursday, September 12th. Truist Financial cut their target price on shares of Murphy Oil from $55.00 to $42.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Finally, Morgan Stanley dropped their price target on shares of Murphy Oil from $43.00 to $39.00 and set an “equal weight” rating on the stock in a research note on Monday, September 16th. Ten analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Murphy Oil currently has a consensus rating of “Hold” and a consensus target price of $41.54.

Murphy Oil Stock Up 1.4 %

Murphy Oil stock opened at $35.51 on Friday. The business has a fifty day moving average price of $35.94 and a 200-day moving average price of $40.49. Murphy Oil Co. has a 1-year low of $32.53 and a 1-year high of $49.14. The stock has a market capitalization of $5.36 billion, a price-to-earnings ratio of 9.34 and a beta of 2.20. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.82 and a quick ratio of 0.76.

Murphy Oil (NYSE:MUR) last issued its quarterly earnings results on Thursday, August 8th. The oil and gas producer reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.08. The company had revenue of $802.80 million during the quarter, compared to analysts’ expectations of $813.97 million. Murphy Oil had a return on equity of 11.68% and a net margin of 17.32%. The firm’s revenue was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.79 EPS. Equities research analysts forecast that Murphy Oil Co. will post 3.47 EPS for the current fiscal year.

Murphy Oil Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.20 annualized dividend and a dividend yield of 3.38%. Murphy Oil’s dividend payout ratio (DPR) is presently 31.58%.

Murphy Oil 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.