Denali Advisors LLC Acquires 105,976 Shares of Murphy Oil Corporation $MUR

Denali Advisors LLC increased its holdings in Murphy Oil Corporation (NYSE:MUR) by 1,177.5% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 114,976 shares of the oil and gas producer’s stock after purchasing an additional 105,976 shares during the period. Denali Advisors LLC’s holdings in Murphy Oil were worth $2,587,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of MUR. GAMMA Investing LLC boosted its holdings in Murphy Oil by 146.5% in the 1st quarter. GAMMA Investing LLC now owns 3,106 shares of the oil and gas producer’s stock worth $88,000 after buying an additional 1,846 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in Murphy Oil by 54.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 12,151 shares of the oil and gas producer’s stock valued at $345,000 after purchasing an additional 4,270 shares during the period. Oppenheimer Asset Management Inc. boosted its holdings in Murphy Oil by 14.2% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 214,258 shares of the oil and gas producer’s stock valued at $6,085,000 after purchasing an additional 26,563 shares during the period. Bessemer Group Inc. boosted its holdings in Murphy Oil by 4.6% in the 1st quarter. Bessemer Group Inc. now owns 621,575 shares of the oil and gas producer’s stock valued at $17,654,000 after purchasing an additional 27,563 shares during the period. Finally, Security National Bank boosted its holdings in Murphy Oil by 0.7% in the 1st quarter. Security National Bank now owns 199,857 shares of the oil and gas producer’s stock valued at $5,676,000 after purchasing an additional 1,400 shares during the period. 78.31% of the stock is owned by institutional investors.

Murphy Oil Trading Down 0.9%

Shares of MUR opened at $27.31 on Wednesday. The firm has a market cap of $3.90 billion, a price-to-earnings ratio of 14.15 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. Murphy Oil Corporation has a fifty-two week low of $18.94 and a fifty-two week high of $34.52. The firm has a 50 day moving average price of $26.53 and a 200-day moving average price of $24.17.

Murphy Oil (NYSE:MUR) last posted its quarterly earnings results on Monday, March 21st. The oil and gas producer reported ($0.09) earnings per share for the quarter. The business had revenue of $440.08 million during the quarter. Murphy Oil had a return on equity of 5.25% and a net margin of 10.20%. As a group, equities research analysts forecast that Murphy Oil Corporation will post 2.94 earnings per share for the current year.

Murphy Oil Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be paid a $0.325 dividend. The ex-dividend date of this dividend is Monday, November 17th. This represents a $1.30 annualized dividend and a yield of 4.8%. Murphy Oil’s payout ratio is currently 67.36%.

Analysts Set New Price Targets

Several brokerages have commented on MUR. Wells Fargo & Company cut their price target on shares of Murphy Oil from $28.00 to $26.00 and set an “equal weight” rating for the company in a report on Friday, October 17th. Piper Sandler raised their price target on shares of Murphy Oil from $32.00 to $34.00 and gave the company an “overweight” rating in a report on Tuesday. Scotiabank raised their price target on shares of Murphy Oil from $26.00 to $30.00 and gave the company a “sector perform” rating in a report on Thursday, October 9th. 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 report on Monday, September 15th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Murphy Oil in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, Murphy Oil currently has a consensus rating of “Reduce” and an average price target of $28.25.

Murphy Oil Company Profile

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.