Northwestern Mutual Wealth Management Co. Acquires 438 Shares of Murphy Oil Co. (NYSE:MUR)

Northwestern Mutual Wealth Management Co. increased its holdings in Murphy Oil Co. (NYSE:MUR) by 16.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,140 shares of the oil and gas producer’s stock after buying an additional 438 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Murphy Oil were worth $129,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Assenagon Asset Management S.A. boosted its holdings in shares of Murphy Oil by 90.5% in the second 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 acquiring an additional 518,904 shares during the period. Squarepoint Ops LLC grew its holdings in Murphy Oil by 92.1% during the 2nd quarter. Squarepoint Ops LLC now owns 687,254 shares of the oil and gas producer’s stock valued at $28,342,000 after buying an additional 329,521 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Murphy Oil by 3.3% during the second quarter. Dimensional Fund Advisors LP now owns 8,254,125 shares of the oil and gas producer’s stock valued at $340,400,000 after buying an additional 262,256 shares during the period. HITE Hedge Asset Management LLC lifted its holdings in shares of Murphy Oil by 83.3% in the second quarter. HITE Hedge Asset Management LLC now owns 545,926 shares of the oil and gas producer’s stock worth $22,514,000 after buying an additional 248,134 shares in the last quarter. Finally, F M Investments LLC bought a new position in shares of Murphy Oil in the second quarter valued at approximately $10,182,000. 78.31% of the stock is currently owned by hedge funds and other institutional investors.

Murphy Oil Trading Up 1.1 %

MUR stock opened at $35.91 on Friday. Murphy Oil Co. has a one year low of $32.53 and a one year high of $49.14. The company has a market capitalization of $5.48 billion, a PE ratio of 10.00 and a beta of 2.20. The company’s 50 day moving average price is $35.91 and its two-hundred day moving average price is $40.43. 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 posted its quarterly earnings results on Thursday, August 8th. The oil and gas producer reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.08. Murphy Oil had a net margin of 17.32% and a return on equity of 11.68%. The business had revenue of $802.80 million during the quarter, compared to the consensus estimate of $813.97 million. During the same period in the previous year, the firm posted $0.79 earnings per share. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. As a group, analysts predict that Murphy Oil Co. will post 3.47 earnings per share for the current fiscal year.

Murphy Oil Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.34%. The ex-dividend date is Monday, November 18th. Murphy Oil’s dividend payout ratio is presently 33.43%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. StockNews.com cut shares of Murphy Oil from a “buy” rating to a “hold” rating in a research note on Tuesday, June 18th. The Goldman Sachs Group lowered their price objective on Murphy Oil from $44.00 to $39.00 and set a “neutral” rating on the stock in a research report on Monday, October 7th. Truist Financial reduced their target price on Murphy Oil from $55.00 to $42.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Mizuho lowered their price target on Murphy Oil from $59.00 to $50.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. Finally, Morgan Stanley cut their price objective on Murphy Oil from $43.00 to $39.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. Ten equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Murphy Oil presently has an average rating of “Hold” and an average price target of $41.54.

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.