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The Manufacturers Life Insurance Company reduced its position in shares of Murphy Oil Co. (NYSE: WALL – Get a rating) by 2.6% during the 3rd quarter, according to its last Form 13F filed with the Securities and Exchange Commission. The institutional investor held 172,622 shares of the oil and gas producer after selling 4,690 shares during the quarter. The Manufacturers Life Insurance Company held 0.11% of Murphy Oil worth $6,071,000 at the end of the most recent reporting period.
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Several other institutional investors and hedge funds have also recently increased or reduced their stake in the company. Lazard Asset Management LLC bought a new position in shares of Murphy Oil in the second quarter worth about $25,000. CoreCap Advisors LLC bought a new position in shares of Murphy Oil in the second quarter worth approximately $64,000. Exchange Traded Concepts LLC raised its position in shares of Murphy Oil by 13.1% in the third quarter. Exchange Traded Concepts LLC now owns 2,193 shares of the oil and gas producer valued at $77,000 after purchasing an additional 254 shares during the period. Van ECK Associates Corp bought a new position in shares of Murphy Oil in the third quarter worth about $78,000. Finally, CWM LLC increased its position in shares of Murphy Oil by 18.0% in the third quarter. CWM LLC now owns 2,387 shares of the oil and gas producer valued at $84,000 after purchasing an additional 364 shares during the period. 77.55% of the shares are held by institutional investors.
Murphy Oil is trading down 2.0%
Shares of Murphy Oil Stock opened at $44.45 on Monday. The company has a market capitalization of $6.91 billion, a price-earnings ratio of 7.26 and a beta of 2.41. The company has a quick ratio of 0.74, a current ratio of 0.77 and a debt ratio of 0.35. Murphy Oil Co. has a 12-month low of $25.97 and a 12-month high of $51.28. The company’s 50-day moving average price is $43.26 and its two-hundred-day moving average price is $40.84.
Murphy’s Oil (NYSE: WALL – Get a rating) last reported results on Thursday, January 26. The oil and gas producer reported EPS of $1.10 for the quarter, missing analyst consensus estimates of $1.18 per ($0.08). The company posted revenue of $975.20 million in the quarter, versus a consensus estimate of $835.62 million. Murphy Oil had a return on equity of 18.82% and a net margin of 24.54%. The company’s revenues increased by 32.0% compared to the same quarter last year. During the same period last year, the company posted EPS of $0.40. On average, analysts expect Murphy Oil Co. to post earnings per share of 6.98 for the current fiscal year.
Murphy Oil increases its dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 1. Shareholders of record on Monday, February 13 will receive a dividend of $0.275. The ex-dividend date is Friday, February 10. This represents a dividend of $1.10 on an annualized basis and a dividend yield of 2.47%. This is a boost from Murphy Oil’s previous quarterly dividend of $0.25. Murphy Oil’s dividend payout ratio is 17.97%.
Insider Trading at Murphy Oil
In related news, VP Maria A. Martinez sold 7,500 shares of the company in a transaction that took place on Friday, November 11. The shares were sold at an average price of $50.59, for a total value of $379,425.00. Following the completion of the transaction, the vice president now owns 7,531 shares of the company, valued at approximately $380,993.29. The sale was disclosed in a document filed with the SEC, accessible via this link. In other Murphy Oil news, Vice President Maria A. Martinez sold 7,500 shares of the company in a trade that took place on Friday, November 11. The shares were sold at an average price of $50.59, for a total transaction of $379,425.00. Following the completion of the transaction, the vice president now owns 7,531 shares of the company, valued at approximately $380,993.29. The transaction was disclosed in a document filed with the SEC, accessible via the SEC website. Also, CFO Thomas J. Mireles sold 15,000 shares of the company in a transaction that took place on Tuesday, November 15. The stock was sold at an average price of $49.06, for a total transaction of $735,900.00. Following the transaction, the CFO now owns 39,894 shares of the company, valued at approximately $1,957,199.64. Disclosure of this sale can be found here. In the past 90 days, insiders have sold 210,754 shares of the company valued at $10,615,495. 6.20% of the shares are currently held by insiders.
Analyst upgrades and downgrades
Several equity analysts have recently weighed in on the stock. Jefferies Financial Group assumed coverage of Murphy Oil shares in a Wednesday, October 19 research report. They issued a “hold” rating and a price target of $46.00 on the stock. Morgan Stanley lowered its price target on shares of Murphy Oil from $47.00 to $45.00 and set an “equal weight” rating on the stock in a Tuesday, January 24 research note. Goldman Sachs Group raised its price target on Murphy Oil shares from $44.00 to $50.00 and gave the company a “neutral” rating in a Wednesday, November 23 research note. JPMorgan Chase & Co. upgraded shares of Murphy Oil from a “neutral” rating to an “overweight” rating and set a price target of $56.00 on the stock in a Monday, Dec. 5 research note . Finally, Piper Sandler raised her price target on Murphy Oil shares from $62.00 to $68.00 and gave the company an “overweight” rating in a Thursday, November 17 research note. Six investment analysts gave the stock a hold rating and four gave the company a buy rating. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $50.00.
Murphy Oil Company Profile
Murphy Oil Corp. is a holding company engaged in the exploration and production of petroleum and natural gas. It operates through Exploration and Production and Corporate and Others segment. The Exploration and Production segment includes the United States, Canada and all other countries. The Corporate and Others segment focuses on interest income, other gains and losses, interest expense and unallocated overhead.
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