Murphy Oil Co. (NYSE:MUR) Stake Boosted by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. increased its stake in Murphy Oil Co. (NYSE:MUR) by 90.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,758 shares of the oil and gas producer’s stock after purchasing an additional 833 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Murphy Oil were worth $59,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Mather Group LLC. increased its stake in Murphy Oil by 1,015.7% in the 2nd quarter. Mather Group LLC. now owns 569 shares of the oil and gas producer’s stock worth $26,000 after purchasing an additional 518 shares in the last quarter. Compass Wealth Management LLC purchased a new position in Murphy Oil in the 3rd quarter worth about $42,000. Bruce G. Allen Investments LLC increased its stake in Murphy Oil by 106.5% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 1,470 shares of the oil and gas producer’s stock worth $50,000 after purchasing an additional 758 shares in the last quarter. Headlands Technologies LLC increased its stake in Murphy Oil by 1,434.5% in the 2nd quarter. Headlands Technologies LLC now owns 1,289 shares of the oil and gas producer’s stock worth $53,000 after purchasing an additional 1,205 shares in the last quarter. Finally, Signaturefd LLC increased its stake in Murphy Oil by 14.5% in the 2nd quarter. Signaturefd LLC now owns 2,441 shares of the oil and gas producer’s stock worth $101,000 after purchasing an additional 310 shares in the last quarter. Hedge funds and other institutional investors own 78.31% of the company’s stock.

Murphy Oil Stock Down 0.9 %

MUR opened at $31.30 on Wednesday. The business has a 50 day moving average price of $34.41 and a 200 day moving average price of $38.73. Murphy Oil Co. has a twelve month low of $30.99 and a twelve month high of $49.14. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.76 and a current ratio of 0.82. The firm has a market cap of $4.56 billion, a P/E ratio of 8.32 and a beta of 2.21.

Murphy Oil (NYSE:MUR) last issued its quarterly earnings results on Thursday, August 8th. The oil and gas producer reported $0.81 EPS for the quarter, topping the consensus estimate of $0.73 by $0.08. The company had revenue of $802.80 million for the quarter, compared to the consensus estimate of $813.97 million. Murphy Oil had a return on equity of 11.68% and a net margin of 17.32%. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.79 EPS. Research analysts forecast that Murphy Oil Co. will post 3.45 EPS for the current year.

Murphy Oil Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.83%. The ex-dividend date is Monday, November 18th. Murphy Oil’s dividend payout ratio is currently 31.58%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on MUR. Barclays decreased their price objective on Murphy Oil from $46.00 to $38.00 and set an “equal weight” rating for the company in a research report on Thursday, October 3rd. Wells Fargo & Company decreased their price objective on Murphy Oil from $41.00 to $39.00 and set an “equal weight” rating for the company in a research report on Friday, September 27th. Wolfe Research began coverage on Murphy Oil in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Scotiabank decreased their price objective on Murphy Oil from $47.00 to $36.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. Finally, KeyCorp decreased their price objective on Murphy Oil from $54.00 to $50.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Ten analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $41.17.

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.