State of New Jersey Common Pension Fund D Increases Holdings in Murphy Oil Co. (NYSE:MUR)

State of New Jersey Common Pension Fund D increased its holdings in shares of Murphy Oil Co. (NYSE:MUR) by 15.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,295 shares of the oil and gas producer’s stock after purchasing an additional 6,812 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Murphy Oil were worth $1,731,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MUR. International Assets Investment Management LLC grew its holdings in Murphy Oil by 3,191.6% during the 3rd quarter. International Assets Investment Management LLC now owns 1,627,268 shares of the oil and gas producer’s stock valued at $54,904,000 after buying an additional 1,577,831 shares in the last quarter. Wedge Capital Management L L P NC grew its stake in Murphy Oil by 641.7% during the third quarter. Wedge Capital Management L L P NC now owns 672,717 shares of the oil and gas producer’s stock valued at $22,697,000 after acquiring an additional 582,020 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in Murphy Oil by 90.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,092,374 shares of the oil and gas producer’s stock valued at $45,050,000 after acquiring an additional 518,904 shares during the last quarter. Squarepoint Ops LLC lifted its stake in Murphy Oil by 92.1% in the 2nd quarter. Squarepoint Ops LLC now owns 687,254 shares of the oil and gas producer’s stock worth $28,342,000 after purchasing an additional 329,521 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings 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 valued at $340,400,000 after purchasing an additional 262,256 shares during the last quarter. Institutional investors own 78.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. reduced their target price on Murphy Oil from $47.00 to $39.00 and set a “neutral” rating on the stock in a report on Thursday, September 12th. Piper Sandler decreased their price objective on Murphy Oil from $43.00 to $42.00 and set an “overweight” rating on the stock in a report on Monday. KeyCorp cut their target price on shares of Murphy Oil from $54.00 to $50.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. UBS Group dropped their price objective on shares of Murphy Oil from $39.00 to $38.00 and set a “neutral” rating for the company in a research note on Monday. Finally, BMO Capital Markets decreased their target price on shares of Murphy Oil from $42.00 to $40.00 and set a “market perform” rating on the stock in a research report on Friday, October 4th. Ten analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $40.92.

Murphy Oil Stock Performance

MUR stock opened at $33.00 on Tuesday. Murphy Oil Co. has a twelve month low of $30.99 and a twelve month high of $49.14. The firm has a market cap of $4.81 billion, a price-to-earnings ratio of 10.65 and a beta of 2.21. The business’s fifty day simple moving average is $33.71 and its two-hundred day simple moving average is $37.82. The company has a quick ratio of 0.65, a current ratio of 0.71 and a debt-to-equity ratio of 0.24.

Murphy Oil (NYSE:MUR) last announced its quarterly earnings data on Thursday, November 7th. The oil and gas producer reported $0.74 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.02). The company had revenue of $758.33 million for the quarter, compared to the consensus estimate of $759.74 million. Murphy Oil had a net margin of 14.78% and a return on equity of 9.22%. The company’s quarterly revenue was down 21.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.59 EPS. Analysts predict that Murphy Oil Co. will post 3.3 earnings per share for the current year.

Murphy Oil Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders 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 yield of 3.64%. The ex-dividend date of this dividend is Monday, November 18th. Murphy Oil’s dividend payout ratio (DPR) is presently 38.71%.

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.