Murphy Oil Corporation $MUR Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC lessened its stake in shares of Murphy Oil Corporation (NYSE:MUR) by 6.5% in the second quarter, according to its most recent filing with the SEC. The fund owned 152,030 shares of the oil and gas producer’s stock after selling 10,504 shares during the period. Intech Investment Management LLC owned about 0.11% of Murphy Oil worth $3,421,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of MUR. Brooklyn Investment Group raised its position in shares of Murphy Oil by 3,989.7% during the first quarter. Brooklyn Investment Group now owns 1,186 shares of the oil and gas producer’s stock worth $34,000 after purchasing an additional 1,157 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Murphy Oil by 1,710.9% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,666 shares of the oil and gas producer’s stock worth $47,000 after buying an additional 1,574 shares during the period. UMB Bank n.a. raised its holdings in Murphy Oil by 148.1% during the 2nd quarter. UMB Bank n.a. now owns 2,273 shares of the oil and gas producer’s stock worth $51,000 after buying an additional 1,357 shares during the period. Allworth Financial LP boosted its holdings in shares of Murphy Oil by 39.7% in the second quarter. Allworth Financial LP now owns 2,440 shares of the oil and gas producer’s stock worth $55,000 after buying an additional 693 shares during the period. Finally, Hantz Financial Services Inc. boosted its holdings in shares of Murphy Oil by 494.0% in the second quarter. Hantz Financial Services Inc. now owns 2,786 shares of the oil and gas producer’s stock worth $63,000 after buying an additional 2,317 shares during the period. 78.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently issued reports on MUR. Wall Street Zen upgraded shares of Murphy Oil from a “sell” rating to a “hold” rating in a report on Saturday, October 25th. Scotiabank lifted their price target on Murphy Oil from $26.00 to $30.00 and gave the company a “sector perform” rating in a report on Thursday, October 9th. Zacks Research raised Murphy Oil from a “strong sell” rating to a “hold” rating in a research report on Monday, November 10th. Piper Sandler restated a “neutral” rating and set a $34.00 price objective on shares of Murphy Oil in a research report on Tuesday. Finally, Wells Fargo & Company lifted their target price on Murphy Oil from $26.00 to $28.00 and gave the company an “equal weight” rating in a research note on Friday, November 14th. Thirteen investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $28.50.

Murphy Oil Stock Up 3.8%

Shares of Murphy Oil stock opened at $30.61 on Wednesday. The stock has a market capitalization of $4.37 billion, a P/E ratio of 15.86 and a beta of 0.99. Murphy Oil Corporation has a 12-month low of $18.94 and a 12-month high of $34.52. The company has a quick ratio of 0.77, a current ratio of 0.84 and a debt-to-equity ratio of 0.28. The stock has a 50 day moving average price of $28.32 and a two-hundred day moving average price of $25.29.

Murphy Oil (NYSE:MUR) last issued its quarterly earnings results on Monday, March 21st. The oil and gas producer reported ($0.09) EPS for the quarter. The business had revenue of $440.08 million for the quarter. Murphy Oil had a return on equity of 5.25% and a net margin of 10.20%. Equities analysts expect that Murphy Oil Corporation will post 2.94 earnings per share for the current year.

Murphy Oil Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 17th will be issued a $0.325 dividend. This represents a $1.30 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend is Monday, November 17th. Murphy Oil’s payout ratio is presently 132.65%.

Murphy Oil Company Profile

Murphy Oil Corporation, together with its subsidiaries, operates as an oil and 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.