Seven Eight Capital LP Purchases 31,944 Shares of Murphy Oil Co. (NYSE:MUR)

Seven Eight Capital LP raised its position in Murphy Oil Co. (NYSE:MUR) by 392.9% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 40,075 shares of the oil and gas producer’s stock after acquiring an additional 31,944 shares during the period. Seven Eight Capital LP’s holdings in Murphy Oil were worth $1,653,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of MUR. Private Advisor Group LLC bought a new stake in shares of Murphy Oil in the fourth quarter worth $304,000. Quadrant Capital Group LLC boosted its stake in shares of Murphy Oil by 18.6% during the 4th quarter. Quadrant Capital Group LLC now owns 3,938 shares of the oil and gas producer’s stock worth $168,000 after buying an additional 618 shares during the last quarter. Corient Private Wealth LLC boosted its stake in shares of Murphy Oil by 5.0% during the 4th quarter. Corient Private Wealth LLC now owns 48,261 shares of the oil and gas producer’s stock worth $2,059,000 after buying an additional 2,277 shares during the last quarter. United Services Automobile Association grew its holdings in shares of Murphy Oil by 10.1% in the 4th quarter. United Services Automobile Association now owns 12,455 shares of the oil and gas producer’s stock valued at $531,000 after acquiring an additional 1,146 shares in the last quarter. Finally, Innealta Capital LLC bought a new stake in Murphy Oil during the fourth quarter worth about $298,000. Institutional investors and hedge funds own 78.31% of the company’s stock.

Murphy Oil Price Performance

Shares of Murphy Oil stock opened at $35.29 on Thursday. The company has a 50-day simple moving average of $37.96 and a two-hundred day simple moving average of $41.35. Murphy Oil Co. has a twelve month low of $33.15 and a twelve month high of $49.14. The stock has a market capitalization of $5.38 billion, a price-to-earnings ratio of 9.83 and a beta of 2.21. 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 quarterly earnings data on Thursday, August 8th. The oil and gas producer reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.08. The firm 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 company’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.79 EPS. Analysts forecast that Murphy Oil Co. will post 3.99 EPS for the current year.

Murphy Oil Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 19th were paid a $0.30 dividend. The ex-dividend date was Monday, August 19th. This represents a $1.20 annualized dividend and a dividend yield of 3.40%. Murphy Oil’s payout ratio is 33.43%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Morgan Stanley decreased their price target on Murphy Oil from $43.00 to $39.00 and set an “equal weight” rating for the company in a research note on Monday. UBS Group lowered their target price on shares of Murphy Oil from $45.00 to $39.00 and set a “neutral” rating on the stock in a report on Wednesday. StockNews.com cut shares of Murphy Oil from a “buy” rating to a “hold” rating in a research note on Tuesday, June 18th. Piper Sandler lowered their price objective on shares of Murphy Oil from $54.00 to $44.00 and set an “overweight” rating on the stock in a research note on Thursday, August 15th. Finally, Wells Fargo & Company cut their target price on shares of Murphy Oil from $47.00 to $41.00 and set an “equal weight” rating for the company in a research note on Friday, August 23rd. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $45.00.

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.