Municipal Employees Retirement System of Michigan lifted its stake in Murphy Oil Corporation (NYSE:MUR) by 484.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 52,950 shares of the oil and gas producer’s stock after purchasing an additional 43,890 shares during the quarter. Municipal Employees Retirement System of Michigan’s holdings in Murphy Oil were worth $1,406,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors also recently added to or reduced their stakes in the stock. ING Groep NV lifted its stake in Murphy Oil by 0.5% in the 2nd quarter. ING Groep NV now owns 8,313 shares of the oil and gas producer’s stock worth $213,000 after acquiring an additional 39 shares in the last quarter. CIBC Asset Management Inc lifted its stake in Murphy Oil by 0.3% in the 2nd quarter. CIBC Asset Management Inc now owns 17,464 shares of the oil and gas producer’s stock worth $448,000 after acquiring an additional 56 shares in the last quarter. Louisiana State Employees Retirement System lifted its stake in Murphy Oil by 1.0% in the 2nd quarter. Louisiana State Employees Retirement System now owns 10,100 shares of the oil and gas producer’s stock worth $259,000 after acquiring an additional 100 shares in the last quarter. Utah Retirement Systems lifted its stake in Murphy Oil by 0.3% in the 2nd quarter. Utah Retirement Systems now owns 29,842 shares of the oil and gas producer’s stock worth $765,000 after acquiring an additional 100 shares in the last quarter. Finally, Sentry Investment Management LLC lifted its stake in Murphy Oil by 1.0% in the 2nd quarter. Sentry Investment Management LLC now owns 12,549 shares of the oil and gas producer’s stock worth $322,000 after acquiring an additional 127 shares in the last quarter. Institutional investors and hedge funds own 96.87% of the company’s stock.
MUR has been the subject of several research analyst reports. Piper Jaffray Companies reissued a “hold” rating and issued a $31.00 price objective on shares of Murphy Oil in a research note on Thursday, August 10th. Scotiabank set a $27.00 price target on Murphy Oil and gave the stock a “hold” rating in a research note on Friday, August 11th. BidaskClub downgraded Murphy Oil from a “hold” rating to a “sell” rating in a research note on Thursday, August 17th. ValuEngine downgraded Murphy Oil from a “hold” rating to a “sell” rating in a research note on Wednesday, August 23rd. Finally, Cowen reaffirmed a “hold” rating and set a $30.00 price target on shares of Murphy Oil in a research note on Sunday, September 17th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the stock. Murphy Oil presently has an average rating of “Hold” and an average price target of $30.27.
Shares of Murphy Oil Corporation (NYSE MUR) traded down $0.33 during mid-day trading on Monday, hitting $28.90. The company had a trading volume of 2,726,467 shares, compared to its average volume of 2,921,800. The company has a current ratio of 1.74, a quick ratio of 1.60 and a debt-to-equity ratio of 0.58. Murphy Oil Corporation has a 1-year low of $22.21 and a 1-year high of $34.90.
Murphy Oil (NYSE:MUR) last issued its quarterly earnings data on Wednesday, November 1st. The oil and gas producer reported ($0.03) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.14) by $0.11. Murphy Oil had a negative return on equity of 1.25% and a negative net margin of 4.15%. The business had revenue of $498.31 million for the quarter, compared to the consensus estimate of $460.17 million. During the same period last year, the business earned ($0.18) EPS. The firm’s revenue was up 2.6% compared to the same quarter last year. research analysts forecast that Murphy Oil Corporation will post -0.2 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Monday, November 13th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date was Friday, November 10th. Murphy Oil’s payout ratio is -196.08%.
In other Murphy Oil news, Director Robert Madison Murphy sold 6,325 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $28.55, for a total value of $180,578.75. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP John B. Gardner sold 3,783 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $27.84, for a total value of $105,318.72. The disclosure for this sale can be found here. Insiders purchased a total of 76,500 shares of company stock worth $17,850 over the last three months. 6.89% of the stock is owned by company insiders.
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About Murphy Oil
Murphy Oil Corporation (Murphy) is an oil and gas exploration and production company. The Company’s exploration and production business explores for and produces crude oil, natural gas and natural gas liquids across the world. Its exploration and production activities are subdivided into four geographic segments: the United States, Canada, Malaysia and all other countries.
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