Grace & White Inc. NY Has $4.06 Million Stake in Murphy Oil Corporation $MUR

Grace & White Inc. NY increased its holdings in shares of Murphy Oil Corporation (NYSE:MUR) by 1.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 180,602 shares of the oil and gas producer’s stock after purchasing an additional 2,200 shares during the quarter. Grace & White Inc. NY’s holdings in Murphy Oil were worth $4,064,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in MUR. Brooklyn Investment Group boosted its holdings in Murphy Oil by 3,989.7% during the first quarter. Brooklyn Investment Group now owns 1,186 shares of the oil and gas producer’s stock worth $34,000 after purchasing an additional 1,157 shares during the last quarter. Byrne Asset Management LLC acquired a new position in Murphy Oil during the first quarter worth $44,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Murphy Oil by 1,710.9% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,666 shares of the oil and gas producer’s stock worth $47,000 after purchasing an additional 1,574 shares during the last quarter. Allworth Financial LP boosted its holdings in Murphy Oil by 246.6% during the first quarter. Allworth Financial LP now owns 1,747 shares of the oil and gas producer’s stock worth $50,000 after purchasing an additional 1,243 shares during the last quarter. Finally, UMB Bank n.a. boosted its holdings in Murphy Oil by 148.1% during the second quarter. UMB Bank n.a. now owns 2,273 shares of the oil and gas producer’s stock worth $51,000 after purchasing an additional 1,357 shares during the last quarter. Institutional investors and hedge funds own 78.31% of the company’s stock.

Analysts Set New Price Targets

MUR has been the subject of a number of recent analyst reports. Barclays increased their price target on shares of Murphy Oil from $22.00 to $23.00 and gave the company an “underweight” rating in a research note on Monday, July 7th. Mizuho cut their price target on shares of Murphy Oil from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Monday, September 15th. Piper Sandler increased their price target on shares of Murphy Oil from $30.00 to $32.00 and gave the company an “overweight” rating in a research note on Thursday, August 14th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Murphy Oil in a research note on Wednesday. Finally, Scotiabank increased their price target on shares of Murphy Oil from $26.00 to $30.00 and gave the company a “sector perform” rating in a research note on Thursday. One analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $27.58.

Murphy Oil Stock Performance

Shares of MUR stock opened at $26.76 on Friday. The company has a market capitalization of $3.82 billion, a price-to-earnings ratio of 13.87 and a beta of 1.03. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.77 and a current ratio of 0.84. The company has a 50-day simple moving average of $25.89 and a 200 day simple moving average of $24.18. Murphy Oil Corporation has a 52 week low of $18.94 and a 52 week high of $36.24.

Murphy Oil (NYSE:MUR) last announced its earnings results on Monday, March 21st. The oil and gas producer reported ($0.09) EPS for the quarter. The company had revenue of $440.08 million for the quarter. Murphy Oil had a return on equity of 5.25% and a net margin of 10.20%. On average, sell-side analysts predict that Murphy Oil Corporation will post 2.94 earnings per share for the current year.

Murphy Oil Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 17th will be issued a dividend of $0.325 per share. The ex-dividend date of this dividend is Monday, November 17th. This represents a $1.30 annualized dividend and a dividend yield of 4.9%. Murphy Oil’s payout ratio is presently 67.36%.

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.