State Board of Administration of Florida Retirement System grew its position in Murphy Oil Co. (NYSE:MUR) by 1.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 261,770 shares of the oil and gas producer’s stock after purchasing an additional 4,323 shares during the period. State Board of Administration of Florida Retirement System owned about 0.15% of Murphy Oil worth $6,453,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the business. Qube Research & Technologies Ltd bought a new position in shares of Murphy Oil during the 2nd quarter worth approximately $219,000. Swiss National Bank lifted its holdings in Murphy Oil by 2.1% during the 2nd quarter. Swiss National Bank now owns 305,900 shares of the oil and gas producer’s stock valued at $7,540,000 after buying an additional 6,300 shares in the last quarter. Advisory Services Network LLC lifted its holdings in Murphy Oil by 21.5% during the 2nd quarter. Advisory Services Network LLC now owns 18,497 shares of the oil and gas producer’s stock valued at $456,000 after buying an additional 3,272 shares in the last quarter. United Asset Strategies Inc. lifted its holdings in Murphy Oil by 3.8% during the 2nd quarter. United Asset Strategies Inc. now owns 18,599 shares of the oil and gas producer’s stock valued at $458,000 after buying an additional 675 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan lifted its holdings in Murphy Oil by 1.4% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 30,080 shares of the oil and gas producer’s stock valued at $741,000 after buying an additional 420 shares in the last quarter. 90.34% of the stock is currently owned by institutional investors.
In other news, Director Walentin Mirosh sold 1,360 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $18.52, for a total value of $25,187.20. Following the completion of the sale, the director now directly owns 25,365 shares in the company, valued at approximately $469,759.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 6.46% of the stock is currently owned by insiders.
Murphy Oil (NYSE:MUR) last issued its quarterly earnings results on Thursday, August 8th. The oil and gas producer reported $0.21 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.03. Murphy Oil had a return on equity of 3.48% and a net margin of 12.37%. The business had revenue of $709.00 million during the quarter, compared to the consensus estimate of $612.71 million. During the same period in the previous year, the business earned $0.36 EPS. The business’s quarterly revenue was up 81.8% on a year-over-year basis. On average, research analysts forecast that Murphy Oil Co. will post 0.88 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Monday, August 19th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.64%. Murphy Oil’s dividend payout ratio (DPR) is 79.37%.
A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Murphy Oil from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a report on Monday, June 10th. MKM Partners set a $38.00 target price on shares of Murphy Oil and gave the company a “buy” rating in a research report on Monday, August 12th. Credit Suisse Group reduced their price target on shares of Murphy Oil from $30.00 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, August 9th. Evercore ISI began coverage on shares of Murphy Oil in a research note on Thursday, May 30th. They set an “in-line” rating and a $30.00 target price on the stock. Finally, TheStreet lowered shares of Murphy Oil from a “b” rating to a “c” rating in a research note on Tuesday, May 14th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $33.08.
About Murphy Oil
Murphy Oil Corporation operates as an oil and gas exploration and production company in the United States, Canada, Malaysia, and internationally. 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.
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