Abel Hall LLC Purchases Shares of 5,583 Murphy Oil Co. (NYSE:MUR)

Abel Hall LLC purchased a new stake in Murphy Oil Co. (NYSE:MUR) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 5,583 shares of the oil and gas producer’s stock, valued at approximately $238,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. International Assets Investment Management LLC grew its holdings in shares of Murphy Oil by 3,904.6% during the 4th quarter. International Assets Investment Management LLC now owns 2,090,904 shares of the oil and gas producer’s stock worth $89,198,000 after purchasing an additional 2,038,692 shares during the period. Invenomic Capital Management LP purchased a new stake in shares of Murphy Oil during the 4th quarter worth about $16,349,000. Heartland Advisors Inc. purchased a new stake in shares of Murphy Oil during the 4th quarter worth about $12,988,000. Dimensional Fund Advisors LP grew its holdings in shares of Murphy Oil by 2.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 7,861,968 shares of the oil and gas producer’s stock worth $335,397,000 after purchasing an additional 207,547 shares during the period. Finally, M&G Investment Management Ltd. purchased a new stake in shares of Murphy Oil during the 4th quarter worth about $8,040,000. Hedge funds and other institutional investors own 78.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. boosted their target price on Murphy Oil from $51.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Barclays started coverage on Murphy Oil in a research report on Wednesday, April 10th. They set an “equal weight” rating and a $54.00 price target on the stock. Truist Financial boosted their price target on Murphy Oil from $58.00 to $59.00 and gave the stock a “buy” rating in a research report on Friday, April 5th. Piper Sandler boosted their price target on Murphy Oil from $49.00 to $55.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. Finally, KeyCorp boosted their price target on Murphy Oil from $50.00 to $54.00 and gave the stock an “overweight” rating in a research report on Monday, April 22nd. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Murphy Oil currently has an average rating of “Moderate Buy” and an average price target of $51.00.

Murphy Oil Stock Down 1.7 %

Shares of MUR traded down $0.65 during trading on Friday, reaching $38.30. The company’s stock had a trading volume of 1,398,487 shares, compared to its average volume of 1,361,762. The company has a fifty day moving average of $43.72 and a two-hundred day moving average of $42.18. Murphy Oil Co. has a twelve month low of $36.34 and a twelve month high of $49.14. The company has a market cap of $5.84 billion, a price-to-earnings ratio of 10.67 and a beta of 2.21. The company has a quick ratio of 0.87, a current ratio of 0.93 and a debt-to-equity ratio of 0.24.

Murphy Oil (NYSE:MUR) last posted its quarterly earnings results on Thursday, May 2nd. The oil and gas producer reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.03. The business had revenue of $794.80 million for the quarter, compared to analyst estimates of $750.94 million. Murphy Oil had a return on equity of 11.75% and a net margin of 16.40%. The business’s revenue was down 5.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.24 EPS. On average, sell-side analysts predict that Murphy Oil Co. will post 4.26 EPS for the current fiscal year.

Murphy Oil Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 20th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.13%. The ex-dividend date was Friday, May 17th. Murphy Oil’s dividend payout ratio is currently 33.43%.

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.