Wellington Management Group LLP Grows Position in Murphy Oil Co. (NYSE:MUR)

Wellington Management Group LLP grew its position in Murphy Oil Co. (NYSE:MUR) by 16.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 47,988 shares of the oil and gas producer’s stock after acquiring an additional 6,728 shares during the quarter. Wellington Management Group LLP’s holdings in Murphy Oil were worth $1,619,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Quadrature Capital Ltd acquired a new stake in Murphy Oil during the 3rd quarter worth $1,217,000. Mutual of America Capital Management LLC grew its holdings in shares of Murphy Oil by 21.2% during the second quarter. Mutual of America Capital Management LLC now owns 218,739 shares of the oil and gas producer’s stock worth $9,021,000 after buying an additional 38,334 shares during the last quarter. Oppenheimer Asset Management Inc. increased its position in Murphy Oil by 24.2% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 166,316 shares of the oil and gas producer’s stock valued at $6,859,000 after acquiring an additional 32,411 shares during the period. Prospector Partners LLC raised its stake in Murphy Oil by 50.5% during the 3rd quarter. Prospector Partners LLC now owns 307,092 shares of the oil and gas producer’s stock valued at $10,361,000 after acquiring an additional 103,092 shares during the last quarter. Finally, AXA S.A. lifted its position in Murphy Oil by 86.5% during the 2nd quarter. AXA S.A. now owns 132,710 shares of the oil and gas producer’s stock worth $5,473,000 after acquiring an additional 61,537 shares during the period. 78.31% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on MUR shares. Mizuho cut their price target on Murphy Oil from $50.00 to $45.00 and set an “outperform” rating for the company in a research note on Monday. Scotiabank cut their price objective on shares of Murphy Oil from $47.00 to $36.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. Barclays lowered their target price on shares of Murphy Oil from $38.00 to $37.00 and set an “equal weight” rating on the stock in a report on Monday, November 11th. Piper Sandler cut their price target on shares of Murphy Oil from $42.00 to $39.00 and set an “overweight” rating for the company in a report on Tuesday. Finally, BMO Capital Markets lowered their price objective on Murphy Oil from $42.00 to $40.00 and set a “market perform” rating on the stock in a report on Friday, October 4th. Ten analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $39.58.

Murphy Oil Price Performance

MUR stock opened at $28.51 on Thursday. 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 stock’s 50 day moving average price is $32.25 and its 200 day moving average price is $36.05. The firm has a market cap of $4.16 billion, a P/E ratio of 9.20 and a beta of 2.18. Murphy Oil Co. has a 1 year low of $28.38 and a 1 year high of $49.14.

Murphy Oil (NYSE:MUR) last issued its quarterly earnings results on Thursday, November 7th. The oil and gas producer reported $0.74 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 analysts’ expectations of $759.74 million. During the same quarter last year, the firm earned $1.59 earnings per share. The business’s quarterly revenue was down 21.0% compared to the same quarter last year. On average, sell-side analysts expect that Murphy Oil Co. will post 3.15 earnings per share for the current fiscal year.

Murphy Oil Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 18th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 4.21%. The ex-dividend date was Monday, November 18th. Murphy Oil’s dividend payout ratio (DPR) is 38.71%.

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.