Pallas Capital Advisors LLC Invests $532,000 in Murphy Oil Corporation $MUR

Pallas Capital Advisors LLC bought a new position in shares of Murphy Oil Corporation (NYSE:MUR) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 16,330 shares of the oil and gas producer’s stock, valued at approximately $532,000.

Several other institutional investors also recently bought and sold shares of MUR. Deutsche Bank AG purchased a new stake in Murphy Oil in the 2nd quarter worth approximately $6,866,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Murphy Oil during the 2nd quarter valued at approximately $54,000. Bank of New York Mellon Corp acquired a new position in shares of Murphy Oil in the 2nd quarter valued at $49,681,000. State of Wyoming acquired a new position in shares of Murphy Oil in the 2nd quarter valued at $134,000. Finally, Oppenheimer Asset Management Inc. purchased a new stake in Murphy Oil during the second quarter worth $7,178,000. 78.31% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Jefferies Financial Group cut shares of Murphy Oil from a “buy” rating to an “underperform” rating in a report on Thursday, June 4th. Wells Fargo & Company increased their target price on shares of Murphy Oil from $42.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 13th. Morgan Stanley restated an “underweight” rating and issued a $36.00 price target on shares of Murphy Oil in a research note on Wednesday. Weiss Ratings restated a “hold (c)” rating on shares of Murphy Oil in a research note on Wednesday, June 24th. Finally, UBS Group reduced their price target on Murphy Oil from $41.00 to $38.00 and set a “neutral” rating for the company in a report on Friday, August 7th. Three equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $37.58.

Murphy Oil Stock Performance

NYSE:MUR opened at $36.84 on Thursday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.80 and a current ratio of 0.85. The stock has a market capitalization of $5.28 billion, a PE ratio of 18.24 and a beta of 0.50. Murphy Oil Corporation has a fifty-two week low of $21.86 and a fifty-two week high of $43.34. The company has a fifty day moving average of $35.57 and a two-hundred day moving average of $36.48.

Murphy Oil (NYSE:MUR) last announced its earnings results on Wednesday, August 5th. The oil and gas producer reported $1.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.57 by ($0.02). Murphy Oil had a net margin of 9.74% and a return on equity of 6.63%. The company had revenue of $926.33 million during the quarter, compared to analyst estimates of $888.51 million. During the same quarter last year, the business earned $0.27 EPS. The firm’s revenue for the quarter was up 33.5% compared to the same quarter last year. As a group, research analysts forecast that Murphy Oil Corporation will post 2.98 earnings per share for the current fiscal year.

Murphy Oil Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 3.8%. The ex-dividend date is Monday, August 17th. Murphy Oil’s payout ratio is 69.31%.

Murphy Oil Profile

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.