Oppenheimer Asset Management Inc. Makes New $7.18 Million Investment in Murphy Oil Corporation $MUR

Oppenheimer Asset Management Inc. acquired a new position in Murphy Oil Corporation (NYSE:MUR) during the second quarter, according to its most recent 13F filing with the SEC. The firm acquired 220,460 shares of the oil and gas producer’s stock, valued at approximately $7,178,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. NewEdge Wealth LLC grew its holdings in shares of Murphy Oil by 2.6% during the 1st quarter. NewEdge Wealth LLC now owns 10,954 shares of the oil and gas producer’s stock worth $452,000 after purchasing an additional 281 shares during the period. Baron Wealth Management LLC lifted its position in Murphy Oil by 2.6% during the first quarter. Baron Wealth Management LLC now owns 12,118 shares of the oil and gas producer’s stock valued at $500,000 after buying an additional 304 shares in the last quarter. Parallel Advisors LLC grew its stake in Murphy Oil by 3.7% during the fourth quarter. Parallel Advisors LLC now owns 11,091 shares of the oil and gas producer’s stock worth $347,000 after buying an additional 400 shares during the period. Cetera Investment Advisers increased its position in shares of Murphy Oil by 0.9% in the fourth quarter. Cetera Investment Advisers now owns 45,662 shares of the oil and gas producer’s stock worth $1,427,000 after acquiring an additional 401 shares in the last quarter. Finally, Empowered Funds LLC increased its position in shares of Murphy Oil by 0.9% in the fourth quarter. Empowered Funds LLC now owns 49,066 shares of the oil and gas producer’s stock worth $1,533,000 after acquiring an additional 418 shares in the last quarter. 78.31% of the stock is owned by institutional investors and hedge funds.

Murphy Oil Stock Performance

Shares of MUR stock opened at $34.63 on Friday. Murphy Oil Corporation has a 12 month low of $21.86 and a 12 month high of $43.34. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.85 and a quick ratio of 0.80. The firm has a market capitalization of $4.96 billion, a P/E ratio of 17.14 and a beta of 0.50. The company’s fifty day moving average price is $35.80 and its two-hundred day moving average price is $36.35.

Murphy Oil (NYSE:MUR) last posted its quarterly earnings data on Wednesday, August 5th. The oil and gas producer reported $1.55 earnings per share for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.02). The firm had revenue of $926.33 million during the quarter, compared to analysts’ expectations of $888.51 million. Murphy Oil had a net margin of 9.74% and a return on equity of 6.63%. The business’s quarterly revenue was up 33.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.27 earnings per share. On average, research analysts anticipate that Murphy Oil Corporation will post 2.98 earnings per share for the current fiscal year.

Murphy Oil Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Monday, August 17th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Monday, August 17th. This represents a $1.40 dividend on an annualized basis and a yield of 4.0%. Murphy Oil’s dividend payout ratio is currently 69.31%.

Analyst Ratings Changes

Several research firms recently weighed in on MUR. Jefferies Financial Group lowered shares of Murphy Oil from a “buy” rating to an “underperform” rating in a report on Thursday, June 4th. Weiss Ratings reiterated a “hold (c)” rating on shares of Murphy Oil in a report on Wednesday, June 24th. Scotiabank reissued a “sector perform” rating and issued a $44.00 price objective on shares of Murphy Oil in a research report on Wednesday, May 13th. Mizuho upgraded Murphy Oil to a “hold” rating in a research note on Friday, July 31st. Finally, Wall Street Zen downgraded Murphy Oil from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. Three research analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Murphy Oil presently has an average rating of “Hold” and a consensus price target of $37.50.

Murphy Oil Profile

Murphy Oil Corporation is an independent upstream oil and gas company engaged in the exploration, development and production of crude oil, natural gas and natural gas liquids. The company’s operations encompass conventional onshore and offshore reservoirs, with an emphasis on liquids-rich properties and deepwater assets. Through a combination of proprietary technologies and strategic joint ventures, Murphy Oil seeks to optimize recovery rates and manage its portfolio to balance long-term resource development with operational flexibility.

Murphy Oil’s exploration and production activities are geographically diversified.