Murphy Oil Co. (NYSE:MUR) Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp raised its holdings in shares of Murphy Oil Co. (NYSE:MUR) by 5.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,138,985 shares of the oil and gas producer’s stock after buying an additional 107,462 shares during the period. Bank of New York Mellon Corp owned about 1.40% of Murphy Oil worth $88,212,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Mather Group LLC. raised its stake in shares of Murphy Oil by 1,015.7% during the second quarter. Mather Group LLC. now owns 569 shares of the oil and gas producer’s stock valued at $26,000 after purchasing an additional 518 shares during the period. Rise Advisors LLC bought a new stake in shares of Murphy Oil in the first quarter worth $30,000. Lindbrook Capital LLC increased its stake in shares of Murphy Oil by 47.7% in the first quarter. Lindbrook Capital LLC now owns 721 shares of the oil and gas producer’s stock worth $33,000 after buying an additional 233 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its stake in shares of Murphy Oil by 27.0% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 2,105 shares of the oil and gas producer’s stock worth $96,000 after buying an additional 447 shares during the last quarter. Finally, CWM LLC increased its stake in shares of Murphy Oil by 14.0% in the first quarter. CWM LLC now owns 2,547 shares of the oil and gas producer’s stock worth $116,000 after buying an additional 313 shares during the last quarter. Hedge funds and other institutional investors own 78.31% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on MUR shares. Mizuho lifted their price target on shares of Murphy Oil from $55.00 to $59.00 and gave the stock a “buy” rating in a research note on Monday, May 13th. Scotiabank lowered shares of Murphy Oil from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 9th. UBS Group dropped their price target on shares of Murphy Oil from $49.00 to $45.00 and set a “neutral” rating for the company in a research note on Tuesday, August 13th. Truist Financial decreased their price objective on shares of Murphy Oil from $59.00 to $55.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Finally, Piper Sandler decreased their price objective on shares of Murphy Oil from $54.00 to $44.00 and set an “overweight” rating for the company in a report on Thursday, August 15th. Eight investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Murphy Oil has an average rating of “Hold” and a consensus target price of $47.91.

Murphy Oil Trading Down 1.5 %

NYSE:MUR opened at $37.33 on Thursday. The stock’s 50 day moving average price is $39.48 and its 200 day moving average price is $41.73. Murphy Oil Co. has a 52 week low of $35.61 and a 52 week high of $49.14. The company has a market capitalization of $5.70 billion, a P/E ratio of 10.40 and a beta of 2.25. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.87 and a current ratio of 0.93.

Murphy Oil (NYSE:MUR) last released its quarterly earnings data on Thursday, August 8th. The oil and gas producer reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.08. Murphy Oil had a return on equity of 11.75% and a net margin of 16.40%. The firm had revenue of $802.80 million for the quarter, compared to the consensus estimate of $813.97 million. During the same quarter in the prior year, the company posted $0.79 earnings per share. The firm’s revenue was down 1.4% on a year-over-year basis. On average, research analysts forecast that Murphy Oil Co. will post 4.16 EPS for the current fiscal year.

Murphy Oil Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Monday, August 19th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Monday, August 19th. This represents a $1.20 annualized dividend and a yield of 3.21%. Murphy Oil’s dividend payout ratio (DPR) is presently 33.43%.

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.