Franklin Resources Inc. lessened its position in Murphy Oil Co. (NYSE:MUR – Get Rating) by 23.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 32,826 shares of the oil and gas producer’s stock after selling 9,957 shares during the period. Franklin Resources Inc.’s holdings in Murphy Oil were worth $991,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in MUR. Lazard Asset Management LLC bought a new position in shares of Murphy Oil during the 2nd quarter valued at $25,000. Quent Capital LLC lifted its holdings in shares of Murphy Oil by 36.8% during the 1st quarter. Quent Capital LLC now owns 1,127 shares of the oil and gas producer’s stock valued at $46,000 after buying an additional 303 shares during the period. CoreCap Advisors LLC bought a new position in shares of Murphy Oil during the 2nd quarter valued at $64,000. Meeder Asset Management Inc. bought a new position in shares of Murphy Oil during the 1st quarter valued at $77,000. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Murphy Oil by 50.9% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 2,198 shares of the oil and gas producer’s stock valued at $89,000 after buying an additional 741 shares during the period. Institutional investors own 77.38% of the company’s stock.
Murphy Oil Trading Down 3.1 %
Shares of MUR stock opened at $44.26 on Tuesday. Murphy Oil Co. has a 52-week low of $23.50 and a 52-week high of $51.28. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.74 and a current ratio of 0.78. The firm has a market capitalization of $6.88 billion, a PE ratio of 7.45 and a beta of 2.43. The stock has a fifty day simple moving average of $45.23 and a two-hundred day simple moving average of $39.16.
Murphy Oil (NYSE:MUR – Get Rating) last issued its quarterly earnings data on Thursday, November 3rd. The oil and gas producer reported $1.84 earnings per share for the quarter, beating analysts’ consensus estimates of $1.56 by $0.28. The firm had revenue of $1.30 billion during the quarter, compared to analyst estimates of $930.51 million. Murphy Oil had a return on equity of 17.20% and a net margin of 25.27%. On average, analysts predict that Murphy Oil Co. will post 5.89 EPS for the current fiscal year.
Murphy Oil Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 1st. Stockholders of record on Monday, November 14th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, November 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.26%. Murphy Oil’s payout ratio is 16.84%.
Insider Activity
In other news, CEO Roger W. Jenkins sold 150,000 shares of the firm’s stock in a transaction dated Friday, November 11th. The stock was sold at an average price of $50.52, for a total transaction of $7,578,000.00. Following the completion of the transaction, the chief executive officer now owns 664,664 shares in the company, valued at $33,578,825.28. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Roger W. Jenkins sold 150,000 shares of the firm’s stock in a transaction dated Friday, November 11th. The stock was sold at an average price of $50.52, for a total transaction of $7,578,000.00. Following the completion of the transaction, the chief executive officer now owns 664,664 shares in the company, valued at $33,578,825.28. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robert Madison Murphy sold 40,000 shares of Murphy Oil stock in a transaction dated Thursday, October 20th. The stock was sold at an average price of $46.50, for a total value of $1,860,000.00. Following the completion of the transaction, the director now owns 1,673,616 shares of the company’s stock, valued at approximately $77,823,144. The disclosure for this sale can be found here. Insiders sold a total of 285,754 shares of company stock worth $14,117,095 over the last 90 days. Corporate insiders own 6.20% of the company’s stock.
Analyst Ratings Changes
Several equities analysts have recently weighed in on MUR shares. JPMorgan Chase & Co. raised Murphy Oil from a “neutral” rating to an “overweight” rating and set a $56.00 price target on the stock in a report on Monday. Truist Financial upped their price objective on Murphy Oil from $61.00 to $73.00 and gave the stock a “buy” rating in a research note on Thursday, September 15th. Jefferies Financial Group assumed coverage on Murphy Oil in a research note on Wednesday, October 19th. They issued a “hold” rating and a $46.00 price objective for the company. Wells Fargo & Company upped their price objective on Murphy Oil from $45.00 to $48.00 and gave the stock an “equal weight” rating in a research note on Friday, November 4th. Finally, Morgan Stanley reduced their price objective on Murphy Oil from $49.00 to $48.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 19th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $53.33.
Murphy Oil Company Profile
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Murphy Oil Corporation, together with its subsidiaries, operates as an oil and natural 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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