New York State Teachers Retirement System Decreases Stake in Murphy Oil Co. (NYSE:MUR)

New York State Teachers Retirement System lessened its stake in shares of Murphy Oil Co. (NYSE:MUR) by 0.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 195,260 shares of the oil and gas producer’s stock after selling 600 shares during the period. New York State Teachers Retirement System owned approximately 0.13% of Murphy Oil worth $6,588,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. International Assets Investment Management LLC increased its holdings in shares of Murphy Oil by 3,191.6% in the third quarter. International Assets Investment Management LLC now owns 1,627,268 shares of the oil and gas producer’s stock valued at $54,904,000 after purchasing an additional 1,577,831 shares during the period. Wedge Capital Management L L P NC raised its position in Murphy Oil by 641.7% during the 3rd quarter. Wedge Capital Management L L P NC now owns 672,717 shares of the oil and gas producer’s stock worth $22,697,000 after buying an additional 582,020 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in Murphy Oil by 90.5% during 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. Squarepoint Ops LLC boosted its holdings in shares of Murphy Oil by 92.1% in the 2nd quarter. Squarepoint Ops LLC now owns 687,254 shares of the oil and gas producer’s stock valued at $28,342,000 after acquiring an additional 329,521 shares during the last quarter. Finally, 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 worth $340,400,000 after acquiring an additional 262,256 shares during the period. Institutional investors and hedge funds own 78.31% of the company’s stock.

Wall Street Analyst Weigh In

MUR has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lowered their price target on shares of Murphy Oil from $47.00 to $39.00 and set a “neutral” rating on the stock in a report on Thursday, September 12th. UBS Group cut their price objective on Murphy Oil from $45.00 to $39.00 and set a “neutral” rating for the company in a research note on Wednesday, September 18th. Truist Financial decreased their target price on Murphy Oil from $55.00 to $42.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. KeyCorp dropped their price target 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. Finally, Piper Sandler decreased their price objective on Murphy Oil from $44.00 to $43.00 and set an “overweight” rating on the stock in a report on Tuesday, October 15th. Ten equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $41.17.

Murphy Oil Trading Up 1.6 %

NYSE MUR opened at $31.60 on Tuesday. The company’s fifty day moving average price is $34.55 and its two-hundred day moving average price is $38.83. The company has a market capitalization of $4.61 billion, a price-to-earnings ratio of 8.38 and a beta of 2.21. Murphy Oil Co. has a 12 month low of $30.99 and a 12 month high of $49.14. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.82 and a quick ratio of 0.76.

Murphy Oil (NYSE:MUR) last announced its quarterly earnings data 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. The firm had revenue of $802.80 million for the quarter, compared to analysts’ expectations of $813.97 million. Murphy Oil had a return on equity of 11.68% and a net margin of 17.32%. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same period last year, the business posted $0.79 earnings per share. As a group, research analysts predict that Murphy Oil Co. will post 3.45 earnings per share for the current fiscal year.

Murphy Oil Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.20 annualized dividend and a dividend yield of 3.80%. Murphy Oil’s dividend payout ratio is presently 31.58%.

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.