Seven Eight Capital LP Purchases 31,944 Shares of Murphy Oil Co. (NYSE:MUR)

Seven Eight Capital LP increased its position in Murphy Oil Co. (NYSE:MUR) by 392.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 40,075 shares of the oil and gas producer’s stock after buying an additional 31,944 shares during the quarter. Seven Eight Capital LP’s holdings in Murphy Oil were worth $1,653,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in MUR. Assenagon Asset Management S.A. increased its position in Murphy Oil by 90.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,092,374 shares of the oil and gas producer’s stock valued at $45,050,000 after acquiring an additional 518,904 shares during the period. Invenomic Capital Management LP bought a new stake in shares of Murphy Oil in the 4th quarter valued at about $16,349,000. Dimensional Fund Advisors LP increased its stake in shares of Murphy Oil by 3.3% in the second quarter. Dimensional Fund Advisors LP now owns 8,254,125 shares of the oil and gas producer’s stock valued at $340,400,000 after buying an additional 262,256 shares during the period. F M Investments LLC acquired a new stake in shares of Murphy Oil in the second quarter valued at about $10,182,000. Finally, Vaughan Nelson Investment Management L.P. lifted its stake in shares of Murphy Oil by 23.0% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 1,132,305 shares of the oil and gas producer’s stock worth $51,746,000 after acquiring an additional 212,100 shares during the period. Institutional investors own 78.31% of the company’s stock.

Analyst Ratings Changes

MUR has been the subject of several analyst reports. Scotiabank lowered shares of Murphy Oil from a “strong-buy” rating to a “hold” rating in a report on Friday, August 9th. StockNews.com downgraded shares of Murphy Oil from a “buy” rating to a “hold” rating in a research note on Tuesday, June 18th. Wolfe Research initiated coverage on shares of Murphy Oil in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Piper Sandler reduced their price objective on shares of Murphy Oil from $54.00 to $44.00 and set an “overweight” rating for the company in a research report on Thursday, August 15th. Finally, JPMorgan Chase & Co. lowered their target price on Murphy Oil from $47.00 to $39.00 and set a “neutral” rating on the stock in a research report on Thursday, September 12th. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $45.00.

Murphy Oil Price Performance

Shares of MUR stock opened at $35.29 on Thursday. The company has a quick ratio of 0.76, a current ratio of 0.82 and a debt-to-equity ratio of 0.23. The business’s fifty day moving average is $37.96 and its 200 day moving average is $41.35. The stock has a market cap of $5.38 billion, a price-to-earnings ratio of 9.83 and a beta of 2.21. Murphy Oil Co. has a twelve month low of $33.15 and a twelve month high of $49.14.

Murphy Oil (NYSE:MUR) last issued its earnings results on Thursday, August 8th. The oil and gas producer reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.08. Murphy Oil had a net margin of 17.32% and a return on equity of 11.68%. 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 firm posted $0.79 earnings per share. The business’s revenue was down 1.4% on a year-over-year basis. Research analysts expect that Murphy Oil Co. will post 3.99 EPS for the current fiscal year.

Murphy Oil Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 19th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.40%. The ex-dividend date of this dividend was Monday, August 19th. Murphy Oil’s dividend payout ratio is currently 33.43%.

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.