Allspring Global Investments Holdings LLC grew its stake in Murphy Oil Co. (NYSE:MUR – Free Report) by 2,349.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 156,190 shares of the oil and gas producer’s stock after purchasing an additional 149,813 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.10% of Murphy Oil worth $5,982,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of the stock. Creative Planning raised its stake in shares of Murphy Oil by 16.9% in the 2nd quarter. Creative Planning now owns 18,762 shares of the oil and gas producer’s stock valued at $719,000 after purchasing an additional 2,719 shares in the last quarter. International Assets Investment Management LLC raised its stake in Murphy Oil by 1.1% during the second quarter. International Assets Investment Management LLC now owns 51,681 shares of the oil and gas producer’s stock worth $1,979,000 after acquiring an additional 579 shares during the period. Teacher Retirement System of Texas raised its stake in Murphy Oil by 10.3% during the second quarter. Teacher Retirement System of Texas now owns 59,017 shares of the oil and gas producer’s stock worth $2,260,000 after acquiring an additional 5,501 shares during the period. Monument Capital Management raised its stake in Murphy Oil by 1.8% during the second quarter. Monument Capital Management now owns 45,221 shares of the oil and gas producer’s stock worth $1,732,000 after acquiring an additional 807 shares during the period. Finally, Diversified Trust Co acquired a new stake in Murphy Oil during the second quarter worth about $217,000. Institutional investors and hedge funds own 79.30% of the company’s stock.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on the stock. Morgan Stanley increased their price objective on shares of Murphy Oil from $46.00 to $48.00 and gave the stock an “equal weight” rating in a research note on Monday, October 2nd. Piper Sandler increased their price objective on shares of Murphy Oil from $50.00 to $53.00 and gave the stock an “overweight” rating in a research note on Monday, August 14th. StockNews.com began coverage on shares of Murphy Oil in a research note on Thursday, October 5th. They set a “hold” rating on the stock. Mizuho raised their price target on shares of Murphy Oil from $51.00 to $53.00 and gave the company a “buy” rating in a research note on Monday, September 18th. Finally, KeyCorp raised their price target on shares of Murphy Oil from $47.00 to $53.00 and gave the company an “overweight” rating in a research note on Wednesday, August 23rd. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $48.82.
Insider Activity
In other news, VP John B. Gardner sold 10,000 shares of the stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $42.95, for a total value of $429,500.00. Following the completion of the transaction, the vice president now directly owns 19,895 shares in the company, valued at $854,490.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Elisabeth W. Keller sold 1,116 shares of the firm’s stock in a transaction that occurred on Wednesday, September 20th. The shares were sold at an average price of $45.49, for a total transaction of $50,766.84. Following the completion of the sale, the director now directly owns 7,151 shares in the company, valued at $325,298.99. 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 the firm’s 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 sale, the vice president now owns 19,895 shares of the company’s stock, valued at $854,490.25. The disclosure for this sale can be found here. Insiders sold 111,116 shares of company stock worth $4,810,267 over the last three months. Corporate insiders own 5.92% of the company’s stock.
Murphy Oil Trading Up 3.0 %
Murphy Oil stock opened at $46.14 on Friday. The firm has a 50 day simple moving average of $45.42 and a 200-day simple moving average of $41.15. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.84 and a quick ratio of 0.78. The stock has a market capitalization of $7.20 billion, a PE ratio of 7.14 and a beta of 2.40. Murphy Oil Co. has a 12-month low of $32.80 and a 12-month high of $51.28.
Murphy Oil (NYSE:MUR – Get Free Report) last posted its quarterly earnings data on Thursday, August 3rd. The oil and gas producer reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.05. The business had revenue of $814.60 million during 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%. The business’s revenue was down 26.0% on a year-over-year basis. During the same period last year, the firm posted $1.93 earnings per share. As a group, equities research analysts expect that Murphy Oil Co. will post 4.89 EPS for the current fiscal year.
Murphy Oil Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Monday, November 13th will be issued a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 2.38%. The ex-dividend date of this dividend is Friday, November 10th. Murphy Oil’s dividend payout ratio (DPR) is presently 17.03%.
About Murphy Oil
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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