Ieq Capital LLC Makes New Investment in Murphy Oil Corporation $MUR

Ieq Capital LLC acquired a new stake in Murphy Oil Corporation (NYSE:MUR) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 22,214 shares of the oil and gas producer’s stock, valued at approximately $723,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Leonteq Securities AG purchased a new position in shares of Murphy Oil during the 1st quarter valued at approximately $29,000. Valued Wealth Advisors LLC increased its holdings in Murphy Oil by 14,700.0% in the 1st quarter. Valued Wealth Advisors LLC now owns 740 shares of the oil and gas producer’s stock worth $31,000 after acquiring an additional 735 shares in the last quarter. CIBC Private Wealth Group LLC purchased a new stake in Murphy Oil in the 4th quarter worth $26,000. Torren Management LLC acquired a new position in Murphy Oil during the fourth quarter worth $37,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Murphy Oil during the second quarter worth $54,000. 78.31% of the stock is currently owned by hedge funds and other institutional investors.

Murphy Oil Stock Up 3.8%

Shares of NYSE:MUR opened at $36.00 on Friday. Murphy Oil Corporation has a 52-week low of $24.31 and a 52-week high of $43.34. The stock has a market cap of $5.16 billion, a P/E ratio of 17.82 and a beta of 0.50. The business has a fifty day moving average of $35.53 and a two-hundred day moving average of $36.71. The company has a quick ratio of 0.80, a current ratio of 0.85 and a debt-to-equity ratio of 0.29.

Murphy Oil (NYSE:MUR) last posted its quarterly earnings results on Wednesday, August 5th. The oil and gas producer reported $1.55 EPS for the quarter, missing the consensus estimate of $1.57 by ($0.02). The company had revenue of $926.33 million for the quarter, compared to analysts’ expectations of $888.51 million. Murphy Oil had a return on equity of 6.63% and a net margin of 9.74%.The firm’s revenue was up 33.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.27 EPS. On average, research analysts expect that Murphy Oil Corporation will post 2.77 earnings per share for the current year.

Murphy Oil Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th will be paid a dividend of $0.35 per share. 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 3.9%. Murphy Oil’s payout ratio is 69.31%.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Scotiabank reiterated a “sector perform” rating and issued a $44.00 target price on shares of Murphy Oil in a research report on Wednesday, May 13th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Murphy Oil in a research note on Wednesday, June 24th. Roth Capital reiterated a “neutral” rating and set a $36.00 price objective on shares of Murphy Oil in a research note on Thursday, May 7th. Wall Street Zen cut Murphy Oil from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. Finally, KeyCorp decreased their target price on Murphy Oil from $48.00 to $43.00 and set an “overweight” rating on the stock in a research report on Thursday, August 13th. Three research analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $37.58.

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.