New York State Common Retirement Fund Cuts Position in Murphy Oil Co. (MUR)

New York State Common Retirement Fund trimmed its position in Murphy Oil Co. (NYSE:MUR) by 16.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 345,323 shares of the oil and gas producer’s stock after selling 69,243 shares during the period. New York State Common Retirement Fund owned 0.20% of Murphy Oil worth $9,172,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in MUR. Principal Financial Group Inc. grew its position in Murphy Oil by 171.4% during the 3rd quarter. Principal Financial Group Inc. now owns 1,018,113 shares of the oil and gas producer’s stock worth $27,041,000 after purchasing an additional 642,930 shares during the period. FMR LLC grew its position in Murphy Oil by 4.7% during the 2nd quarter. FMR LLC now owns 11,806,976 shares of the oil and gas producer’s stock worth $302,613,000 after purchasing an additional 529,291 shares during the period. State Street Corp grew its position in Murphy Oil by 4.6% during the 2nd quarter. State Street Corp now owns 11,373,872 shares of the oil and gas producer’s stock worth $291,513,000 after purchasing an additional 503,190 shares during the period. Hotchkis & Wiley Capital Management LLC grew its position in Murphy Oil by 3.2% during the 2nd quarter. Hotchkis & Wiley Capital Management LLC now owns 14,581,270 shares of the oil and gas producer’s stock worth $373,718,000 after purchasing an additional 445,500 shares during the period. Finally, Robeco Institutional Asset Management B.V. grew its position in Murphy Oil by 1,114.5% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 335,988 shares of the oil and gas producer’s stock worth $8,924,000 after purchasing an additional 308,324 shares during the period. 96.79% of the stock is currently owned by institutional investors.

MUR has been the topic of several analyst reports. Piper Jaffray Companies set a $23.00 price target on Murphy Oil and gave the stock a “hold” rating in a research report on Friday, August 25th. Cowen reissued a “hold” rating and set a $30.00 target price on shares of Murphy Oil in a research note on Sunday, September 17th. Morgan Stanley increased their target price on shares of Murphy Oil from $23.00 to $26.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 18th. 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 research note on Friday, October 27th. Finally, Credit Suisse Group started coverage on shares of Murphy Oil in a research note on Monday, December 11th. They set a “neutral” rating and a $30.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $29.91.

In related news, Director Robert Madison Murphy sold 6,325 shares of the firm’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $28.55, for a total value of $180,578.75. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP John B. Gardner sold 3,783 shares of the firm’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $27.84, for a total transaction of $105,318.72. The disclosure for this sale can be found here. Insiders purchased a total of 76,500 shares of company stock worth $17,850 over the last ninety days. 6.89% of the stock is currently owned by corporate insiders.

Shares of Murphy Oil Co. (NYSE MUR) opened at $30.59 on Friday. 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 Co. has a 12 month low of $22.21 and a 12 month high of $33.04.

Murphy Oil (NYSE:MUR) last issued its quarterly earnings results on Wednesday, November 1st. The oil and gas producer reported ($0.03) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.14) by $0.11. The firm had revenue of $498.31 million for the quarter, compared to analyst estimates of $460.17 million. Murphy Oil had a negative net margin of 4.15% and a negative return on equity of 1.25%. Murphy Oil’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period last year, the company posted ($0.18) EPS. equities analysts expect that Murphy Oil Co. will post -0.23 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Monday, November 13th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date was Friday, November 10th. Murphy Oil’s dividend payout ratio is presently -196.08%.

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About Murphy Oil

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.

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

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