Prudential Financial Inc. Reduces Position in Murphy Oil Corporation (MUR)

Prudential Financial Inc. lowered its stake in shares of Murphy Oil Corporation (NYSE:MUR) by 69.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 101,949 shares of the oil and gas producer’s stock after selling 233,322 shares during the quarter. Prudential Financial Inc. owned about 0.06% of Murphy Oil worth $2,708,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Laurion Capital Management LP increased its holdings in Murphy Oil by 2,553.1% in the 2nd quarter. Laurion Capital Management LP now owns 214,900 shares of the oil and gas producer’s stock valued at $5,508,000 after buying an additional 206,800 shares during the period. Shell Asset Management Co. grew its holdings in shares of Murphy Oil by 103.3% in the 3rd quarter. Shell Asset Management Co. now owns 26,101 shares of the oil and gas producer’s stock worth $1,485,000 after purchasing an additional 13,262 shares during the last quarter. Schwab Charles Investment Management Inc. grew its holdings in shares of Murphy Oil by 10.0% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,028,206 shares of the oil and gas producer’s stock worth $26,353,000 after purchasing an additional 93,234 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Murphy Oil by 18.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 75,962 shares of the oil and gas producer’s stock worth $1,947,000 after purchasing an additional 11,755 shares during the last quarter. Finally, LSV Asset Management grew its holdings in shares of Murphy Oil by 3.8% in the 2nd quarter. LSV Asset Management now owns 1,130,900 shares of the oil and gas producer’s stock worth $28,984,000 after purchasing an additional 41,663 shares during the last quarter. 96.87% of the stock is currently owned by hedge funds and other institutional investors.

MUR has been the topic of several analyst reports. Piper Jaffray Companies set a $23.00 target price on shares of Murphy Oil and gave the stock a “hold” rating in a report on Friday, August 25th. Scotiabank set a $27.00 target price on shares of Murphy Oil and gave the stock a “hold” rating in a report on Friday, August 11th. Cowen reaffirmed a “hold” rating and issued a $30.00 target price on shares of Murphy Oil in a report on Sunday, September 17th. Zacks Investment Research raised shares of Murphy Oil from a “hold” rating to a “buy” rating and set a $28.00 target price on the stock in a report on Friday, October 27th. Finally, ValuEngine lowered shares of Murphy Oil from a “hold” rating to a “sell” rating in a report on Wednesday, August 23rd. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the stock. Murphy Oil presently has a consensus rating of “Hold” and an average target price of $30.27.

Shares of Murphy Oil Corporation (MUR) traded up $1.28 during midday trading on Monday, reaching $29.23. 4,388,900 shares of the company traded hands, compared to its average volume of 2,922,642. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.60 and a current ratio of 1.74. Murphy Oil Corporation has a 1-year low of $22.21 and a 1-year high of $34.90.

Murphy Oil (NYSE:MUR) last released its earnings results on Wednesday, November 1st. The oil and gas producer reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.11. Murphy Oil had a negative net margin of 4.15% and a negative return on equity of 1.25%. The company had revenue of $498.31 million for the quarter, compared to the consensus estimate of $460.17 million. During the same period in the prior year, the company posted ($0.18) EPS. The company’s revenue was up 2.6% compared to the same quarter last year. sell-side analysts forecast that Murphy Oil Corporation will post -0.2 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Monday, November 13th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 10th. This represents a $1.00 dividend on an annualized basis and a yield of 3.42%. Murphy Oil’s payout ratio is presently -196.08%.

In related news, VP John B. Gardner sold 3,783 shares of the stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $27.84, for a total value of $105,318.72. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Robert Madison Murphy sold 6,325 shares of the stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $28.55, for a total transaction of $180,578.75. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 76,500 shares of company stock worth $17,850. Corporate insiders own 6.89% of the company’s stock.

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Murphy Oil Company Profile

Murphy Oil Corporation (Murphy) is an oil and gas exploration and production company. The Company’s exploration and production business explores for and produces crude oil, natural gas and natural gas liquids across the world. Its exploration and production activities are subdivided into four geographic segments: the United States, Canada, Malaysia and all other countries.

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Institutional Ownership by Quarter for Murphy Oil (NYSE:MUR)

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