Pictet Asset Management Ltd. Sells 30,547 Shares of Murphy Oil Corporation (MUR)

Pictet Asset Management Ltd. decreased its holdings in Murphy Oil Corporation (NYSE:MUR) by 36.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 54,200 shares of the oil and gas producer’s stock after selling 30,547 shares during the quarter. Pictet Asset Management Ltd.’s holdings in Murphy Oil Corporation were worth $1,440,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of MUR. Advisor Group Inc. raised its holdings in Murphy Oil Corporation by 8.0% in the second quarter. Advisor Group Inc. now owns 4,071 shares of the oil and gas producer’s stock valued at $105,000 after acquiring an additional 301 shares in the last quarter. Daiwa Securities Group Inc. raised its holdings in Murphy Oil Corporation by 24.6% in the second quarter. Daiwa Securities Group Inc. now owns 4,860 shares of the oil and gas producer’s stock valued at $125,000 after acquiring an additional 960 shares in the last quarter. ING Groep NV raised its holdings in Murphy Oil Corporation by 0.5% in the second quarter. ING Groep NV now owns 8,313 shares of the oil and gas producer’s stock valued at $213,000 after acquiring an additional 39 shares in the last quarter. Municipal Employees Retirement System of Michigan raised its holdings in Murphy Oil Corporation by 75.2% in the second quarter. Municipal Employees Retirement System of Michigan now owns 9,060 shares of the oil and gas producer’s stock valued at $233,000 after acquiring an additional 3,890 shares in the last quarter. Finally, Advisor Partners LLC raised its holdings in Murphy Oil Corporation by 6.9% in the second quarter. Advisor Partners LLC now owns 9,081 shares of the oil and gas producer’s stock valued at $233,000 after acquiring an additional 590 shares in the last quarter. 98.46% of the stock is owned by institutional investors and hedge funds.

In related news, Director Robert Madison Murphy sold 6,325 shares of the business’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $28.55, for a total value of $180,578.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders purchased a total of 76,000 shares of company stock valued at $17,750 in the last three months. 6.89% of the stock is currently owned by corporate insiders.

Several analysts recently weighed in on MUR shares. Morgan Stanley raised their target price on shares of Murphy Oil Corporation from $23.00 to $26.00 and gave the company an “underweight” rating in a report on Wednesday, October 18th. Zacks Investment Research raised shares of Murphy Oil Corporation from a “hold” rating to a “buy” rating and set a $28.00 price objective on the stock in a report on Friday, October 27th. Scotiabank set a $27.00 price objective on shares of Murphy Oil Corporation and gave the stock a “hold” rating in a report on Friday, August 11th. Piper Jaffray Companies reissued a “hold” rating and set a $31.00 price objective on shares of Murphy Oil Corporation in a report on Thursday, August 10th. Finally, ValuEngine cut shares of Murphy Oil Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, August 23rd. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $30.27.

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Shares of Murphy Oil Corporation (NYSE:MUR) opened at $27.79 on Wednesday. Murphy Oil Corporation has a 1 year low of $22.21 and a 1 year high of $35.19. The company has a current ratio of 1.74, a quick ratio of 1.60 and a debt-to-equity ratio of 0.58.

Murphy Oil Corporation (NYSE:MUR) last released its quarterly earnings data on Wednesday, November 1st. The oil and gas producer reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.11. Murphy Oil Corporation had a negative net margin of 4.15% and a negative return on equity of 1.25%. The business had revenue of $498.31 million for the quarter, compared to analyst estimates of $460.17 million. During the same period in the previous year, the firm earned ($0.18) EPS. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. sell-side analysts forecast that Murphy Oil Corporation will post -0.19 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Monday, November 13th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.60%. The ex-dividend date is Friday, November 10th. Murphy Oil Corporation’s payout ratio is -196.08%.

Murphy Oil Corporation Company Profile

Murphy Oil Corporation (Murphy) is an oil and gas exploration and production company. The Company’s exploration and production business explores for and produces crude oil, natural gas and natural gas liquids across the world. Its exploration and production activities are subdivided into four geographic segments: the United States, Canada, Malaysia and all other countries.

Institutional Ownership by Quarter for Murphy Oil Corporation (NYSE:MUR)

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