Murphy Oil Co. (NYSE:MUR) Stake Boosted by Citigroup Inc.

Citigroup Inc. raised its holdings in shares of Murphy Oil Co. (NYSE:MUR) by 14.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 605,557 shares of the oil and gas producer’s stock after purchasing an additional 76,487 shares during the period. Citigroup Inc.’s holdings in Murphy Oil were worth $20,431,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Foundry Partners LLC boosted its holdings in shares of Murphy Oil by 20.7% in the 3rd quarter. Foundry Partners LLC now owns 193,060 shares of the oil and gas producer’s stock valued at $6,514,000 after buying an additional 33,080 shares during the period. Intech Investment Management LLC boosted its stake in Murphy Oil by 130.5% in the third quarter. Intech Investment Management LLC now owns 118,519 shares of the oil and gas producer’s stock valued at $3,999,000 after acquiring an additional 67,105 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Murphy Oil by 138.6% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 187,085 shares of the oil and gas producer’s stock valued at $6,312,000 after purchasing an additional 108,672 shares during the last quarter. Commerce Bank raised its position in shares of Murphy Oil by 34.0% during the 3rd quarter. Commerce Bank now owns 14,843 shares of the oil and gas producer’s stock worth $501,000 after purchasing an additional 3,763 shares during the period. Finally, Segall Bryant & Hamill LLC raised its position in shares of Murphy Oil by 28.4% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 1,043,950 shares of the oil and gas producer’s stock worth $35,223,000 after purchasing an additional 231,007 shares during the period. 78.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MUR has been the subject of a number of analyst reports. Truist Financial reduced their price objective on Murphy Oil from $55.00 to $42.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Wells Fargo & Company lowered their price target on shares of Murphy Oil from $41.00 to $39.00 and set an “equal weight” rating for the company in a research report on Friday, September 27th. Piper Sandler dropped their price objective on shares of Murphy Oil from $43.00 to $42.00 and set an “overweight” rating on the stock in a report on Monday, November 18th. Barclays reduced their target price on shares of Murphy Oil from $38.00 to $37.00 and set an “equal weight” rating for the company in a research note on Monday, November 11th. Finally, UBS Group dropped their price target on shares of Murphy Oil from $39.00 to $38.00 and set a “neutral” rating on the stock in a research note on Monday, November 18th. Ten investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Murphy Oil currently has an average rating of “Hold” and a consensus price target of $40.92.

Murphy Oil Stock Down 2.1 %

Shares of MUR stock opened at $32.43 on Wednesday. Murphy Oil Co. has a 1 year low of $30.99 and a 1 year high of $49.14. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.65 and a current ratio of 0.71. The business’s fifty day moving average is $33.60 and its 200-day moving average is $37.41. The stock has a market cap of $4.73 billion, a PE ratio of 10.46 and a beta of 2.21.

Murphy Oil (NYSE:MUR) last released its earnings results on Thursday, November 7th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.02). Murphy Oil had a return on equity of 9.22% and a net margin of 14.78%. The firm had revenue of $758.33 million for the quarter, compared to analyst estimates of $759.74 million. During the same period in the previous year, the firm earned $1.59 earnings per share. Murphy Oil’s revenue was down 21.0% on a year-over-year basis. Equities analysts expect that Murphy Oil Co. will post 3.23 earnings per share for the current fiscal year.

Murphy Oil Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 3.70%. The ex-dividend date is Monday, November 18th. Murphy Oil’s payout ratio is 38.71%.

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.