Murphy Oil Corporation $MUR Shares Sold by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC lessened its position in Murphy Oil Corporation (NYSE:MUR) by 84.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 10,823 shares of the oil and gas producer’s stock after selling 59,125 shares during the period. Concurrent Investment Advisors LLC’s holdings in Murphy Oil were worth $338,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Smartleaf Asset Management LLC lifted its stake in shares of Murphy Oil by 67.3% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,094 shares of the oil and gas producer’s stock worth $32,000 after acquiring an additional 440 shares during the period. Farther Finance Advisors LLC lifted its stake in shares of Murphy Oil by 72.9% in the fourth quarter. Farther Finance Advisors LLC now owns 1,701 shares of the oil and gas producer’s stock valued at $53,000 after purchasing an additional 717 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of Murphy Oil by 437.8% in the second quarter. EverSource Wealth Advisors LLC now owns 3,802 shares of the oil and gas producer’s stock valued at $86,000 after purchasing an additional 3,095 shares during the period. Strs Ohio lifted its stake in shares of Murphy Oil by 11.1% in the third quarter. Strs Ohio now owns 5,000 shares of the oil and gas producer’s stock valued at $142,000 after purchasing an additional 500 shares during the period. Finally, IFP Advisors Inc lifted its stake in shares of Murphy Oil by 69.4% in the third quarter. IFP Advisors Inc now owns 6,326 shares of the oil and gas producer’s stock valued at $182,000 after purchasing an additional 2,591 shares during the period. Institutional investors and hedge funds own 78.31% of the company’s stock.

Murphy Oil Stock Performance

NYSE:MUR opened at $41.71 on Wednesday. The company has a current ratio of 0.77, a quick ratio of 0.71 and a debt-to-equity ratio of 0.26. The firm has a 50-day moving average price of $37.72 and a two-hundred day moving average price of $33.39. Murphy Oil Corporation has a twelve month low of $20.20 and a twelve month high of $43.34. The company has a market capitalization of $5.98 billion, a P/E ratio of 57.93 and a beta of 0.55.

Murphy Oil Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, May 18th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 3.4%. The ex-dividend date is Monday, May 18th. Murphy Oil’s dividend payout ratio (DPR) is 194.44%.

Insiders Place Their Bets

In other Murphy Oil news, SVP Daniel R. Hanchera sold 47,320 shares of the firm’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $33.79, for a total transaction of $1,598,942.80. Following the completion of the transaction, the senior vice president directly owned 36,166 shares in the company, valued at approximately $1,222,049.14. This trade represents a 56.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 5.79% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Roth Mkm reiterated a “neutral” rating on shares of Murphy Oil in a research note on Tuesday, January 6th. Piper Sandler upgraded shares of Murphy Oil from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $33.00 to $41.00 in a research note on Thursday, March 12th. Barclays upgraded shares of Murphy Oil from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $29.00 to $33.00 in a research note on Friday, March 13th. The Goldman Sachs Group raised their price objective on shares of Murphy Oil from $29.00 to $33.00 and gave the company a “neutral” rating in a research note on Wednesday, March 11th. Finally, Mizuho raised their price objective on shares of Murphy Oil from $35.00 to $39.00 and gave the company a “neutral” rating in a research note on Tuesday, March 17th. Two analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Murphy Oil presently has a consensus rating of “Hold” and an average price target of $33.27.

About Murphy Oil

Murphy Oil Corporation is an independent upstream oil and gas company engaged in the exploration, development and production of crude oil, natural gas and natural gas liquids. The company’s operations encompass conventional onshore and offshore reservoirs, with an emphasis on liquids-rich properties and deepwater assets. Through a combination of proprietary technologies and strategic joint ventures, Murphy Oil seeks to optimize recovery rates and manage its portfolio to balance long-term resource development with operational flexibility.

Murphy Oil’s exploration and production activities are geographically diversified.