Headlands Technologies LLC Increases Position in Murphy Oil Co. (NYSE:MUR)

Headlands Technologies LLC lifted its position in shares of Murphy Oil Co. (NYSE:MUR) by 1,434.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,289 shares of the oil and gas producer’s stock after purchasing an additional 1,205 shares during the period. Headlands Technologies LLC’s holdings in Murphy Oil were worth $53,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. SIR Capital Management L.P. boosted its position in shares of Murphy Oil by 128.9% during the 2nd quarter. SIR Capital Management L.P. now owns 204,600 shares of the oil and gas producer’s stock worth $8,438,000 after acquiring an additional 115,200 shares in the last quarter. Texas Permanent School Fund Corp increased its stake in Murphy Oil by 45.6% in the second quarter. Texas Permanent School Fund Corp now owns 184,899 shares of the oil and gas producer’s stock valued at $7,625,000 after purchasing an additional 57,940 shares during the last quarter. Prudential PLC acquired a new stake in Murphy Oil during the second quarter worth approximately $1,802,000. Quest Partners LLC lifted its position in shares of Murphy Oil by 47.5% during the 2nd quarter. Quest Partners LLC now owns 28,886 shares of the oil and gas producer’s stock worth $1,191,000 after buying an additional 9,303 shares during the last quarter. Finally, Poplar Forest Capital LLC boosted its holdings in shares of Murphy Oil by 1.4% in the 2nd quarter. Poplar Forest Capital LLC now owns 334,433 shares of the oil and gas producer’s stock valued at $13,792,000 after buying an additional 4,504 shares in the last quarter. Institutional investors and hedge funds own 78.31% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on MUR. Piper Sandler reduced their price target on shares of Murphy Oil from $54.00 to $44.00 and set an “overweight” rating for the company in a research report on Thursday, August 15th. JPMorgan Chase & Co. reduced their target price on Murphy Oil from $47.00 to $39.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. Wolfe Research assumed coverage on Murphy Oil in a research note on Thursday, July 18th. They set a “peer perform” rating on the stock. Morgan Stanley reduced their price objective on Murphy Oil from $43.00 to $39.00 and set an “equal weight” rating for the company in a research note on Monday. Finally, Barclays lowered their target price on shares of Murphy Oil from $54.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Monday, August 12th. Eight investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $45.55.

Murphy Oil Trading Up 0.5 %

NYSE:MUR opened at $34.34 on Tuesday. The stock has a fifty day moving average price of $38.17 and a two-hundred day moving average price of $41.42. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.76 and a current ratio of 0.82. The stock has a market capitalization of $5.24 billion, a price-to-earnings ratio of 9.56 and a beta of 2.21. Murphy Oil Co. has a 1 year low of $33.15 and a 1 year high of $49.14.

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

Murphy Oil Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 19th were given a dividend of $0.30 per share. The ex-dividend date was Monday, August 19th. This represents a $1.20 annualized dividend and a dividend yield of 3.49%. 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.