Truist Financial Corp Has $337,000 Position in Murphy Oil Co. (NYSE:MUR)

Truist Financial Corp lessened its stake in Murphy Oil Co. (NYSE:MUR) by 30.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,161 shares of the oil and gas producer’s stock after selling 3,591 shares during the quarter. Truist Financial Corp’s holdings in Murphy Oil were worth $337,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MUR. CWM LLC increased its stake in shares of Murphy Oil by 14.0% in the first quarter. CWM LLC now owns 2,547 shares of the oil and gas producer’s stock worth $116,000 after acquiring an additional 313 shares during the last quarter. Rise Advisors LLC acquired a new position in Murphy Oil in the 1st quarter worth about $30,000. Vaughan Nelson Investment Management L.P. raised its stake in shares of Murphy Oil by 23.0% during the 1st 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 purchasing an additional 212,100 shares in the last quarter. State of Michigan Retirement System lifted its holdings in shares of Murphy Oil by 1.1% during the 1st quarter. State of Michigan Retirement System now owns 35,647 shares of the oil and gas producer’s stock valued at $1,629,000 after buying an additional 400 shares during the last quarter. Finally, Monument Capital Management bought a new stake in shares of Murphy Oil in the 1st quarter valued at approximately $202,000. Hedge funds and other institutional investors own 78.31% of the company’s stock.

Murphy Oil Stock Performance

MUR opened at $33.04 on Friday. Murphy Oil Co. has a 12-month low of $32.53 and a 12-month high of $49.14. The firm has a market capitalization of $5.04 billion, a P/E ratio of 9.20 and a beta of 2.20. The stock’s 50 day moving average price is $35.60 and its two-hundred day moving average price is $40.01. The company has a quick ratio of 0.76, a current ratio of 0.82 and a debt-to-equity ratio of 0.23.

Murphy Oil (NYSE:MUR) last announced its earnings results on Thursday, August 8th. The oil and gas producer reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $813.97 million. During the same quarter in the previous year, the firm posted $0.79 earnings per share. Murphy Oil’s revenue was down 1.4% compared to the same quarter last year. On average, equities analysts forecast that Murphy Oil Co. will post 3.47 earnings per share for the current year.

Murphy Oil Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date is Monday, November 18th. Murphy Oil’s dividend payout ratio is currently 33.43%.

Analyst Ratings Changes

MUR has been the topic of several recent research reports. Morgan Stanley cut their price objective on shares of Murphy Oil from $43.00 to $39.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. Piper Sandler cut their price target on shares of Murphy Oil from $44.00 to $43.00 and set an “overweight” rating on the stock in a report on Tuesday. Barclays decreased their price objective on shares of Murphy Oil from $46.00 to $38.00 and set an “equal weight” rating for the company in a report on Thursday, October 3rd. JPMorgan Chase & Co. lowered their target price on shares of Murphy Oil from $47.00 to $39.00 and set a “neutral” rating on the stock in a research report on Thursday, September 12th. Finally, Wolfe Research initiated coverage on Murphy Oil in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. Ten equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $41.17.

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.