Kingsview Wealth Management LLC Reduces Holdings in Murphy Oil Corporation $MUR

Kingsview Wealth Management LLC decreased its holdings in Murphy Oil Corporation (NYSE:MUR) by 18.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 96,998 shares of the oil and gas producer’s stock after selling 21,678 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Murphy Oil were worth $3,031,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Hantz Financial Services Inc. lifted its holdings in Murphy Oil by 43.3% during the fourth quarter. Hantz Financial Services Inc. now owns 15,296 shares of the oil and gas producer’s stock valued at $478,000 after purchasing an additional 4,620 shares in the last quarter. Coldstream Capital Management Inc. lifted its holdings in Murphy Oil by 9.4% during the fourth quarter. Coldstream Capital Management Inc. now owns 7,877 shares of the oil and gas producer’s stock valued at $246,000 after purchasing an additional 679 shares in the last quarter. Jefferies Financial Group Inc. purchased a new position in Murphy Oil during the fourth quarter valued at approximately $380,000. Covestor Ltd lifted its holdings in Murphy Oil by 245.4% during the fourth quarter. Covestor Ltd now owns 4,677 shares of the oil and gas producer’s stock valued at $146,000 after purchasing an additional 3,323 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in Murphy Oil by 10.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 17,376 shares of the oil and gas producer’s stock valued at $543,000 after purchasing an additional 1,621 shares in the last quarter. Hedge funds and other institutional investors own 78.31% of the company’s stock.

Insider Activity at Murphy Oil

In other news, SVP Daniel R. Hanchera sold 47,320 shares of the business’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $33.79, for a total value of $1,598,942.80. Following the transaction, the senior vice president owned 36,166 shares of the company’s stock, valued at approximately $1,222,049.14. The trade was a 56.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 5.79% of the company’s stock.

Murphy Oil Price Performance

MUR stock opened at $36.15 on Friday. Murphy Oil Corporation has a one year low of $20.78 and a one year high of $43.34. The company’s fifty day moving average price is $39.13 and its 200-day moving average price is $34.64. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.77 and a current ratio of 0.83. The company has a market capitalization of $5.18 billion, a PE ratio of 61.27 and a beta of 0.55.

Murphy Oil (NYSE:MUR) last released its earnings results on Wednesday, May 6th. The oil and gas producer reported $0.32 EPS for the quarter, topping the consensus estimate of $0.29 by $0.03. Murphy Oil had a net margin of 3.02% and a return on equity of 3.09%. The firm had revenue of $732.35 million for the quarter, compared to the consensus estimate of $702.96 million. During the same quarter in the previous year, the firm earned $0.56 earnings per share. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. On average, equities analysts anticipate that Murphy Oil Corporation will post 3.44 EPS for the current fiscal year.

Murphy Oil Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Monday, May 18th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend is Monday, May 18th. Murphy Oil’s payout ratio is 237.29%.

Analyst Upgrades and Downgrades

MUR has been the topic of several analyst reports. Wells Fargo & Company lifted their price target on shares of Murphy Oil from $32.00 to $38.00 and gave the company an “equal weight” rating in a report on Thursday, March 26th. Wall Street Zen raised shares of Murphy Oil from a “sell” rating to a “hold” rating in a report on Sunday, March 8th. Roth Mkm reaffirmed a “neutral” rating and set a $36.00 price target on shares of Murphy Oil in a report on Thursday, May 7th. Scotiabank reaffirmed a “sector perform” rating and set a $44.00 price target on shares of Murphy Oil in a report on Wednesday, May 13th. Finally, UBS Group lifted their price target on shares of Murphy Oil from $43.00 to $44.00 and gave the company a “neutral” rating in a report on Wednesday, April 15th. Two equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $36.82.

Murphy Oil Company Profile

Murphy Oil Corporation is an independent upstream oil and gas company engaged in the exploration, development and production of crude oil, natural gas and natural gas liquids. The company’s operations encompass conventional onshore and offshore reservoirs, with an emphasis on liquids-rich properties and deepwater assets. Through a combination of proprietary technologies and strategic joint ventures, Murphy Oil seeks to optimize recovery rates and manage its portfolio to balance long-term resource development with operational flexibility.

Murphy Oil’s exploration and production activities are geographically diversified.