Connor Clark & Lunn Investment Management Ltd. Boosts Holdings in Murphy Oil Corporation $MUR

Connor Clark & Lunn Investment Management Ltd. raised its holdings in Murphy Oil Corporation (NYSE:MUR) by 26.4% during the 2nd quarter, Holdings Channel reports. The firm owned 572,959 shares of the oil and gas producer’s stock after purchasing an additional 119,575 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Murphy Oil were worth $12,892,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of MUR. First Eagle Investment Management LLC increased its stake in shares of Murphy Oil by 2.2% during the 2nd quarter. First Eagle Investment Management LLC now owns 321,500 shares of the oil and gas producer’s stock worth $7,234,000 after purchasing an additional 7,000 shares in the last quarter. Savant Capital LLC raised its holdings in shares of Murphy Oil by 66.4% in the second quarter. Savant Capital LLC now owns 12,226 shares of the oil and gas producer’s stock worth $275,000 after acquiring an additional 4,880 shares during the last quarter. Simmons Bank lifted its position in shares of Murphy Oil by 22.5% in the second quarter. Simmons Bank now owns 74,303 shares of the oil and gas producer’s stock valued at $1,672,000 after acquiring an additional 13,660 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Murphy Oil by 1.6% during the second quarter. Bank of New York Mellon Corp now owns 1,782,051 shares of the oil and gas producer’s stock valued at $40,096,000 after acquiring an additional 28,161 shares during the last quarter. Finally, South Dakota Investment Council increased its position in Murphy Oil by 19.5% during the 2nd quarter. South Dakota Investment Council now owns 119,497 shares of the oil and gas producer’s stock worth $2,689,000 after purchasing an additional 19,500 shares in the last quarter. 78.31% of the stock is currently owned by institutional investors and hedge funds.

Murphy Oil Stock Up 3.5%

NYSE MUR opened at $29.77 on Wednesday. The company has a quick ratio of 0.77, a current ratio of 0.84 and a debt-to-equity ratio of 0.28. Murphy Oil Corporation has a fifty-two week low of $18.94 and a fifty-two week high of $34.52. The business has a 50 day moving average price of $27.87 and a two-hundred day moving average price of $24.98. The stock has a market cap of $4.25 billion, a PE ratio of 15.43 and a beta of 0.99.

Murphy Oil (NYSE:MUR) last posted its earnings results on Monday, March 21st. The oil and gas producer reported ($0.09) EPS for the quarter. The firm 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%. As a group, sell-side analysts predict that Murphy Oil Corporation will post 2.94 EPS for the current fiscal year.

Murphy Oil Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be given a $0.325 dividend. This represents a $1.30 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend is Monday, November 17th. Murphy Oil’s dividend payout ratio is presently 132.65%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Scotiabank raised their price target on shares of Murphy Oil from $26.00 to $30.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 9th. Evercore ISI lowered their target price on shares of Murphy Oil from $23.00 to $22.00 and set an “in-line” rating for the company in a research note on Monday, October 6th. Piper Sandler increased their price target on Murphy Oil from $32.00 to $34.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 21st. UBS Group increased their price target on shares of Murphy Oil from $24.00 to $27.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 14th. Finally, Wall Street Zen upgraded shares of Murphy Oil from a “sell” rating to a “hold” rating in a report on Saturday, October 25th. One research 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.com, the company presently has an average rating of “Reduce” and a consensus target price of $28.33.

Murphy Oil 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.