New York State Common Retirement Fund reduced its stake in Murphy Oil Corporation (NYSE:MUR) by 3.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 414,566 shares of the oil and gas producer’s stock after selling 16,101 shares during the period. New York State Common Retirement Fund owned 0.24% of Murphy Oil Corporation worth $10,625,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Ameritas Investment Partners Inc. bought a new stake in Murphy Oil Corporation in the first quarter valued at $111,000. Daiwa Securities Group Inc. increased its stake in Murphy Oil Corporation by 24.6% in the second quarter. Daiwa Securities Group Inc. now owns 4,860 shares of the oil and gas producer’s stock valued at $125,000 after purchasing an additional 960 shares in the last quarter. Koch Industries Inc. bought a new stake in Murphy Oil Corporation in the first quarter valued at $208,000. Laurion Capital Management LP bought a new stake in Murphy Oil Corporation in the first quarter valued at $232,000. Finally, OppenheimerFunds Inc. increased its stake in Murphy Oil Corporation by 22.5% in the first quarter. OppenheimerFunds Inc. now owns 8,204 shares of the oil and gas producer’s stock valued at $235,000 after purchasing an additional 1,505 shares in the last quarter. 97.62% of the stock is owned by hedge funds and other institutional investors.
Several research firms have weighed in on MUR. BidaskClub raised shares of Murphy Oil Corporation from a “sell” rating to a “hold” rating in a research note on Monday, July 31st. Scotiabank set a $26.00 price target on shares of Murphy Oil Corporation and gave the company a “hold” rating in a research note on Saturday, July 1st. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $31.00 price target on shares of Murphy Oil Corporation in a research note on Thursday, August 10th. ValuEngine raised shares of Murphy Oil Corporation from a “sell” rating to a “hold” rating in a research report on Friday, July 28th. Finally, Zacks Investment Research downgraded shares of Murphy Oil Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $30.70.
Murphy Oil Corporation (NYSE:MUR) opened at 26.00 on Tuesday. Murphy Oil Corporation has a 12-month low of $22.21 and a 12-month high of $35.19. The company’s 50-day moving average is $25.33 and its 200 day moving average is $25.68. The stock’s market capitalization is $4.49 billion.
Murphy Oil Corporation (NYSE:MUR) last released its quarterly earnings data on Wednesday, August 2nd. The oil and gas producer reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.04. Murphy Oil Corporation had a negative return on equity of 1.76% and a negative net margin of 1.83%. The firm had revenue of $474.50 million during the quarter, compared to analysts’ expectations of $495.03 million. During the same quarter last year, the firm earned ($0.36) earnings per share. On average, equities research analysts expect that Murphy Oil Corporation will post ($0.29) earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Monday, November 13th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, November 10th. This represents a $1.00 annualized dividend and a yield of 3.85%. Murphy Oil Corporation’s dividend payout ratio (DPR) is currently -454.55%.
In other Murphy Oil Corporation news, VP Allan J. Misner sold 3,795 shares of the firm’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $26.05, for a total transaction of $98,859.75. Following the transaction, the vice president now directly owns 100 shares in the company, valued at $2,605. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Kelli M. Hammock sold 4,000 shares of the firm’s stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $25.63, for a total value of $102,520.00. Following the transaction, the insider now owns 14,298 shares in the company, valued at $366,457.74. The disclosure for this sale can be found here. 6.89% of the stock is owned by company insiders.
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About Murphy Oil Corporation
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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