Fifth Third Bancorp reduced its holdings in shares of Murphy Oil Co. (NYSE:MUR – Free Report) by 4.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,561 shares of the oil and gas producer’s stock after selling 739 shares during the period. Fifth Third Bancorp’s holdings in Murphy Oil were worth $531,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of MUR. Covestor Ltd grew its position in Murphy Oil by 266.8% during the third quarter. Covestor Ltd now owns 741 shares of the oil and gas producer’s stock valued at $25,000 after acquiring an additional 539 shares during the last quarter. Reston Wealth Management LLC bought a new position in Murphy Oil during the third quarter valued at approximately $27,000. Compass Wealth Management LLC bought a new position in Murphy Oil during the third quarter valued at approximately $42,000. Bruce G. Allen Investments LLC grew its holdings in shares of Murphy Oil by 106.5% in the third 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 during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Murphy Oil by 90.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,758 shares of the oil and gas producer’s stock worth $59,000 after purchasing an additional 833 shares during the last quarter. 78.31% of the stock is currently owned by institutional investors.
Murphy Oil Stock Performance
Shares of Murphy Oil stock opened at $27.47 on Friday. The company has a current ratio of 0.71, a quick ratio of 0.65 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $4.01 billion, a P/E ratio of 8.86 and a beta of 2.17. The business has a fifty day simple moving average of $30.86 and a two-hundred day simple moving average of $34.00. Murphy Oil Co. has a 12 month low of $27.15 and a 12 month high of $49.14.
Murphy Oil Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th will be issued a dividend of $0.325 per share. This is an increase from Murphy Oil’s previous quarterly dividend of $0.30. This represents a $1.30 annualized dividend and a dividend yield of 4.73%. Murphy Oil’s dividend payout ratio (DPR) is presently 38.71%.
Analyst Ratings Changes
MUR has been the topic of several recent analyst reports. BMO Capital Markets cut their target price on shares of Murphy Oil from $42.00 to $40.00 and set a “market perform” rating on the stock in a report on Friday, October 4th. UBS Group cut their target price on shares of Murphy Oil from $38.00 to $34.00 and set a “neutral” rating on the stock in a report on Monday, December 9th. Morgan Stanley restated an “underweight” rating and issued a $37.00 target price on shares of Murphy Oil in a report on Wednesday, January 22nd. Piper Sandler cut their target price on shares of Murphy Oil from $39.00 to $35.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Truist Financial raised their target price on shares of Murphy Oil from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $39.08.
Check Out Our Latest Report on Murphy Oil
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.
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