Murphy Oil Co. (NYSE:MUR) Shares Sold by Amalgamated Bank

Amalgamated Bank trimmed its position in shares of Murphy Oil Co. (NYSE:MUR) by 7.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 70,479 shares of the oil and gas producer’s stock after selling 5,687 shares during the quarter. Amalgamated Bank’s holdings in Murphy Oil were worth $2,907,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. raised its stake in shares of Murphy Oil by 90.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,092,374 shares of the oil and gas producer’s stock worth $45,050,000 after buying an additional 518,904 shares in the last quarter. Invenomic Capital Management LP purchased a new stake in shares of Murphy Oil during the 4th quarter worth $16,349,000. Dimensional Fund Advisors LP boosted its position in shares of Murphy Oil by 3.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 8,254,125 shares of the oil and gas producer’s stock worth $340,400,000 after purchasing an additional 262,256 shares in the last quarter. F M Investments LLC acquired a new stake in shares of Murphy Oil in the second quarter valued at about $10,182,000. Finally, Vaughan Nelson Investment Management L.P. boosted its holdings in Murphy Oil by 23.0% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 1,132,305 shares of the oil and gas producer’s stock worth $51,746,000 after buying an additional 212,100 shares in the last quarter. 78.31% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on MUR. Barclays dropped their target price on shares of Murphy Oil from $54.00 to $46.00 and set an “equal weight” rating for the company in a report on Monday, August 12th. Wells Fargo & Company decreased their target price on Murphy Oil from $47.00 to $41.00 and set an “equal weight” rating on the stock in a research report on Friday, August 23rd. Piper Sandler cut their price target on Murphy Oil from $54.00 to $44.00 and set an “overweight” rating for the company in a research note on Thursday, August 15th. Truist Financial dropped their target price on shares of Murphy Oil from $59.00 to $55.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Finally, StockNews.com cut shares of Murphy Oil from a “buy” rating to a “hold” rating in a research report on Tuesday, June 18th. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $45.00.

Murphy Oil Stock Up 0.6 %

MUR stock opened at $35.83 on Tuesday. Murphy Oil Co. has a one year low of $33.15 and a one year high of $49.14. The stock has a market capitalization of $5.47 billion, a P/E ratio of 9.98 and a beta of 2.21. The company has a 50 day moving average price of $37.51 and a two-hundred day moving average price of $41.24. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.76 and a current ratio of 0.82.

Murphy Oil (NYSE:MUR) last released its earnings results on Thursday, August 8th. The oil and gas producer reported $0.81 EPS for the quarter, beating the consensus estimate of $0.73 by $0.08. Murphy Oil had a return on equity of 11.68% and a net margin of 17.32%. The firm had revenue of $802.80 million during the quarter, compared to analyst estimates of $813.97 million. During the same period in the prior year, the firm posted $0.79 earnings per share. The business’s quarterly revenue was down 1.4% compared to the same quarter last year. As a group, sell-side analysts expect that Murphy Oil Co. will post 3.99 EPS for the current year.

Murphy Oil Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 19th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date of this dividend was Monday, August 19th. Murphy Oil’s dividend payout ratio is currently 33.43%.

About Murphy Oil

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.