King Luther Capital Management Corp lifted its position in shares of Murphy Oil Co. (NYSE:MUR) by 9.8% in the third quarter, Holdings Channel reports. The fund owned 107,492 shares of the oil and gas producer’s stock after buying an additional 9,624 shares during the period. King Luther Capital Management Corp’s holdings in Murphy Oil were worth $3,584,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in MUR. FMR LLC raised its position in shares of Murphy Oil by 7.2% during the second quarter. FMR LLC now owns 15,868,414 shares of the oil and gas producer’s stock worth $535,876,000 after acquiring an additional 1,065,018 shares during the last quarter. Marshall Wace LLP raised its position in shares of Murphy Oil by 5,302.0% during the second quarter. Marshall Wace LLP now owns 824,190 shares of the oil and gas producer’s stock worth $27,833,000 after acquiring an additional 808,933 shares during the last quarter. Wedge Capital Management L L P NC increased its holdings in Murphy Oil by 11.7% in the third quarter. Wedge Capital Management L L P NC now owns 5,310,331 shares of the oil and gas producer’s stock valued at $177,046,000 after purchasing an additional 554,530 shares during the last quarter. Aristotle Atlantic Partners LLC increased its holdings in Murphy Oil by 2,028.0% in the second quarter. Aristotle Atlantic Partners LLC now owns 548,637 shares of the oil and gas producer’s stock valued at $18,526,000 after purchasing an additional 522,855 shares during the last quarter. Finally, Bessemer Group Inc. bought a new stake in Murphy Oil in the third quarter valued at about $10,008,000. Institutional investors own 86.84% of the company’s stock.
In other Murphy Oil news, insider Kelli M. Hammock sold 2,595 shares of the business’s stock in a transaction dated Friday, November 16th. The stock was sold at an average price of $31.56, for a total value of $81,898.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Claiborne P. Deming bought 10,000 shares of the firm’s stock in a transaction on Monday, November 19th. The stock was acquired at an average cost of $31.60 per share, with a total value of $316,000.00. The disclosure for this purchase can be found here. 6.89% of the stock is currently owned by insiders.
NYSE MUR opened at $29.99 on Friday. The stock has a market capitalization of $5.23 billion, a P/E ratio of 29.63 and a beta of 2.09. The company has a quick ratio of 1.47, a current ratio of 1.58 and a debt-to-equity ratio of 0.61. Murphy Oil Co. has a 12 month low of $24.39 and a 12 month high of $36.53.
Murphy Oil (NYSE:MUR) last posted its earnings results on Wednesday, November 7th. The oil and gas producer reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). Murphy Oil had a net margin of 0.86% and a return on equity of 3.77%. The business had revenue of $674.80 million during the quarter, compared to analyst estimates of $633.20 million. During the same period in the previous year, the firm posted ($0.38) earnings per share. The firm’s revenue was up 35.4% on a year-over-year basis. On average, equities research analysts predict that Murphy Oil Co. will post 1.49 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, December 3rd. Shareholders of record on Monday, November 12th were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 3.33%. Murphy Oil’s payout ratio is -769.23%.
MUR has been the subject of a number of recent analyst reports. KLR Group reiterated a “buy” rating and issued a $39.00 price objective on shares of Murphy Oil in a report on Monday, August 20th. MKM Partners initiated coverage on Murphy Oil in a report on Wednesday. They issued a “buy” rating and a $44.00 price objective for the company. Credit Suisse Group set a $36.00 price objective on Murphy Oil and gave the company a “hold” rating in a report on Friday, November 9th. Zacks Investment Research downgraded Murphy Oil from a “buy” rating to a “hold” rating in a report on Tuesday, August 28th. Finally, TheStreet upgraded Murphy Oil from a “c+” rating to a “b-” rating in a report on Thursday, November 8th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $36.69.
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Murphy Oil Company Profile
Murphy Oil Corporation operates as an oil and gas exploration and production company worldwide. 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. Murphy Oil Corporation was founded in 1950 and is headquartered in El Dorado, Arkansas.
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