Edgestream Partners L.P. Reduces Holdings in Murphy Oil Co. (NYSE:MUR)

Edgestream Partners L.P. lowered its stake in shares of Murphy Oil Co. (NYSE:MUR) by 37.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,263 shares of the oil and gas producer’s stock after selling 8,046 shares during the quarter. Edgestream Partners L.P.’s holdings in Murphy Oil were worth $547,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its position in Murphy Oil by 3.3% during the 2nd 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 acquiring an additional 262,256 shares in the last quarter. Earnest Partners LLC lifted its stake in shares of Murphy Oil by 7.7% in the 1st quarter. Earnest Partners LLC now owns 2,737,409 shares of the oil and gas producer’s stock valued at $125,100,000 after purchasing an additional 195,906 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Murphy Oil by 5.3% during the second quarter. Bank of New York Mellon Corp now owns 2,138,985 shares of the oil and gas producer’s stock valued at $88,212,000 after purchasing an additional 107,462 shares in the last quarter. Vaughan Nelson Investment Management L.P. grew its stake in 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 purchasing an additional 212,100 shares during the period. Finally, Assenagon Asset Management S.A. raised its holdings in Murphy Oil by 90.5% in the second quarter. Assenagon Asset Management S.A. now owns 1,092,374 shares of the oil and gas producer’s stock worth $45,050,000 after purchasing an additional 518,904 shares in the last quarter. Hedge funds and other institutional investors own 78.31% of the company’s stock.

Murphy Oil Trading Down 1.1 %

Murphy Oil stock opened at $35.62 on Monday. Murphy Oil Co. has a one year low of $33.15 and a one year high of $49.14. The business’s fifty day moving average is $37.64 and its 200 day moving average is $41.27. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.82 and a quick ratio of 0.76. The stock has a market capitalization of $5.43 billion, a PE ratio of 9.92 and a beta of 2.21.

Murphy Oil (NYSE:MUR) last announced its quarterly earnings results 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. The firm had revenue of $802.80 million during the quarter, compared to analyst estimates of $813.97 million. Murphy Oil had a net margin of 17.32% and a return on equity of 11.68%. The business’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 earnings per share. On average, sell-side analysts predict that Murphy Oil Co. will post 3.99 EPS for the current year.

Murphy Oil Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 19th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $1.20 annualized dividend and a dividend yield of 3.37%. Murphy Oil’s payout ratio is 33.43%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on MUR shares. Piper Sandler dropped their target price on shares of Murphy Oil from $54.00 to $44.00 and set an “overweight” rating on the stock in a report on Thursday, August 15th. Wells Fargo & Company cut their price objective on shares of Murphy Oil from $47.00 to $41.00 and set an “equal weight” rating on the stock in a report on Friday, August 23rd. Barclays lowered their target price on shares of Murphy Oil from $54.00 to $46.00 and set an “equal weight” rating for the company in a report on Monday, August 12th. JPMorgan Chase & Co. cut their price target on Murphy Oil from $47.00 to $39.00 and set a “neutral” rating on the stock in a research note on Thursday, September 12th. Finally, StockNews.com cut Murphy Oil from a “buy” rating to a “hold” rating in a research note on Tuesday, June 18th. Eight research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $45.00.

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.