Murphy Oil Co. (NYSE:MUR) Shares Sold by Bank of New York Mellon Corp

Posted by Defense World Staff on Aug 18th, 2023

Bank of New York Mellon Corp lessened its stake in Murphy Oil Co. (NYSE:MUR – Free Report) by 2.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,227,571 shares of the oil and gas producer’s stock after selling 57,156 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.43% of Murphy Oil worth $82,376,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Headlands Technologies LLC bought a new stake in Murphy Oil in the first quarter valued at about $29,000. Toronto Dominion Bank bought a new stake in shares of Murphy Oil in the 4th quarter valued at approximately $30,000. CoreCap Advisors LLC acquired a new stake in shares of Murphy Oil during the 4th quarter valued at approximately $48,000. Park Place Capital Corp bought a new position in Murphy Oil during the first quarter worth $51,000. Finally, Harbor Investment Advisory LLC acquired a new position in Murphy Oil in the first quarter worth $73,000. Institutional investors own 77.02% of the company’s stock.

Murphy Oil Trading Up 2.3 %

NYSE:MUR opened at $45.07 on Friday. Murphy Oil Co. has a 1 year low of $31.90 and a 1 year high of $51.28. The business has a fifty day moving average of $40.56 and a 200-day moving average of $38.73. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.78 and a current ratio of 0.84. The stock has a market cap of $7.04 billion, a price-to-earnings ratio of 6.98 and a beta of 2.38.

Murphy Oil (NYSE:MUR – Get Free Report) last released its earnings results on Thursday, August 3rd. The oil and gas producer reported $0.79 EPS for the quarter, beating the consensus estimate of $0.74 by $0.05. The firm had revenue of $814.60 million for the quarter, compared to analysts’ expectations of $779.77 million. Murphy Oil had a net margin of 25.86% and a return on equity of 15.09%. Murphy Oil’s quarterly revenue was down 26.0% on a year-over-year basis. During the same quarter last year, the company earned $1.93 EPS. Equities analysts predict that Murphy Oil Co. will post 4.32 earnings per share for the current year.

Murphy Oil Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Monday, August 14th will be issued a dividend of $0.275 per share. The ex-dividend date is Friday, August 11th. This represents a $1.10 annualized dividend and a yield of 2.44%. Murphy Oil’s payout ratio is 17.03%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on MUR shares. KeyCorp initiated coverage on shares of Murphy Oil in a research report on Monday, July 10th. They issued an “overweight” rating and a $47.00 price target on the stock. Morgan Stanley raised their target price on shares of Murphy Oil from $43.00 to $44.00 in a report on Monday, May 15th. Truist Financial lowered their target price on Murphy Oil from $60.00 to $52.00 in a report on Monday, July 24th. StockNews.com began coverage on Murphy Oil in a report on Thursday. They issued a “hold” rating on the stock. Finally, UBS Group boosted their price objective on Murphy Oil from $38.00 to $50.00 and gave the company a “neutral” rating in a research report on Thursday. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Murphy Oil presently has a consensus rating of “Moderate Buy” and an average price target of $47.90.

Get Our Latest Report on MUR

Insiders Place Their Bets

In other news, VP John B. Gardner sold 10,000 shares of Murphy Oil stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $42.95, for a total transaction of $429,500.00. Following the transaction, the vice president now directly owns 19,895 shares in the company, valued at approximately $854,490.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Robert Madison Murphy sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $43.30, for a total transaction of $4,330,000.00. Following the completion of the sale, the director now directly owns 1,499,831 shares in the company, valued at $64,942,682.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP John B. Gardner sold 10,000 shares of Murphy Oil stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $42.95, for a total transaction of $429,500.00. Following the completion of the transaction, the vice president now owns 19,895 shares in the company, valued at approximately $854,490.25. The disclosure for this sale can be found here. 5.92% of the stock is currently owned by insiders.

Murphy Oil Company Profile

(Free Report)

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.