Rafferty Asset Management LLC raised its position in shares of Murphy Oil Co. (NYSE:MUR) by 68.6% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 14,483 shares of the oil and gas producer’s stock after purchasing an additional 5,891 shares during the quarter. Rafferty Asset Management LLC’s holdings in Murphy Oil were worth $483,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Aperio Group LLC raised its position in Murphy Oil by 2.1% in the 2nd quarter. Aperio Group LLC now owns 129,571 shares of the oil and gas producer’s stock worth $4,376,000 after purchasing an additional 2,661 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. bought a new stake in shares of Murphy Oil during the 2nd quarter valued at $2,570,000. Sumitomo Mitsui Trust Holdings Inc. bought a new stake in shares of Murphy Oil during the 2nd quarter valued at $201,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in shares of Murphy Oil during the 2nd quarter valued at $1,483,000. Finally, Brookstone Capital Management bought a new stake in shares of Murphy Oil during the 2nd quarter valued at $535,000. 86.84% of the stock is owned by institutional investors and hedge funds.
MUR has been the subject of several recent research reports. Morgan Stanley dropped their target price on shares of Murphy Oil from $26.00 to $24.00 and set a “sell” rating for the company in a research report on Thursday, August 16th. Piper Jaffray Companies reiterated a “neutral” rating on shares of Murphy Oil in a research report on Friday, September 28th. Mizuho upgraded shares of Murphy Oil from an “underperform” rating to a “neutral” rating and set a $41.00 target price for the company in a research report on Friday, October 19th. Wells Fargo & Co dropped their target price on shares of Murphy Oil from $36.00 to $34.00 and set a “market perform” rating for the company in a research report on Friday, August 10th. Finally, National Alliance Securities upgraded shares of Murphy Oil from a “hold” rating to a “buy” rating in a research report on Thursday, October 11th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $35.73.
Murphy Oil (NYSE:MUR) last released its quarterly earnings data on Wednesday, November 7th. The oil and gas producer reported $0.35 EPS for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.01). Murphy Oil had a net margin of 0.86% and a return on equity of 3.77%. The firm had revenue of $674.80 million during the quarter, compared to the consensus estimate of $633.20 million. During the same quarter in the prior year, the company earned ($0.38) EPS. Murphy Oil’s quarterly revenue was up 35.4% on a year-over-year basis. As a group, sell-side analysts forecast that Murphy Oil Co. will post 1.49 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, December 3rd. Investors of record on Monday, November 12th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date of this dividend was Thursday, November 8th. Murphy Oil’s dividend payout ratio is currently -769.23%.
In other news, Director Claiborne P. Deming acquired 10,000 shares of the stock in a transaction that occurred on Monday, November 19th. The stock was acquired at an average price of $31.60 per share, for a total transaction of $316,000.00. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Kelli M. Hammock sold 2,595 shares of the company’s stock in a transaction on Friday, November 16th. The shares were sold at an average price of $31.56, for a total transaction of $81,898.20. The disclosure for this sale can be found here. 6.59% of the stock is owned by corporate insiders.
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About Murphy Oil
Murphy Oil Corporation operates as an oil and gas exploration and production company worldwide. 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. Murphy Oil Corporation was founded in 1950 and is headquartered in El Dorado, Arkansas.
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