Murphy Oil Corporation $MUR Shares Acquired by Engineers Gate Manager LP

Engineers Gate Manager LP raised its stake in Murphy Oil Corporation (NYSE:MUR) by 1,446.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 93,896 shares of the oil and gas producer’s stock after purchasing an additional 87,826 shares during the period. Engineers Gate Manager LP’s holdings in Murphy Oil were worth $3,057,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in MUR. NewEdge Wealth LLC increased its position in Murphy Oil by 2.6% during the first quarter. NewEdge Wealth LLC now owns 10,954 shares of the oil and gas producer’s stock worth $452,000 after buying an additional 281 shares during the period. Baron Wealth Management LLC boosted its holdings in shares of Murphy Oil by 2.6% in 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 acquiring an additional 304 shares during the period. Rehmann Capital Advisory Group grew its position in shares of Murphy Oil by 4.4% during the second quarter. Rehmann Capital Advisory Group now owns 7,774 shares of the oil and gas producer’s stock worth $253,000 after acquiring an additional 328 shares during the last quarter. Arizona State Retirement System grew its position in shares of Murphy Oil by 0.9% during the second quarter. Arizona State Retirement System now owns 37,576 shares of the oil and gas producer’s stock worth $1,223,000 after acquiring an additional 330 shares during the last quarter. Finally, Parallel Advisors LLC increased its holdings in shares of Murphy Oil by 3.7% in the 4th quarter. Parallel Advisors LLC now owns 11,091 shares of the oil and gas producer’s stock valued at $347,000 after acquiring an additional 400 shares during the period. 78.31% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on MUR. Seaport Research Partners initiated coverage on Murphy Oil in a report on Thursday, September 3rd. They set a “neutral” rating on the stock. UBS Group reduced their price objective on Murphy Oil from $41.00 to $38.00 and set a “neutral” rating for the company in a research note on Friday, August 7th. Mizuho raised Murphy Oil to a “hold” rating in a research report on Friday, July 31st. Barclays downgraded Murphy Oil from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $38.00 to $34.00 in a research note on Friday, August 14th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Murphy Oil in a report on Wednesday, June 24th. Three investment 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’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $37.33.

Murphy Oil Stock Performance

MUR opened at $38.48 on Monday. The stock has a market cap of $5.52 billion, a P/E ratio of 19.05 and a beta of 0.50. 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 stock’s 50 day simple moving average is $36.31 and its 200 day simple moving average is $37.03. Murphy Oil Corporation has a 1-year low of $25.32 and a 1-year high of $43.34.

Murphy Oil (NYSE:MUR) last issued its quarterly earnings data on Wednesday, August 5th. The oil and gas producer reported $1.55 EPS for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.02). Murphy Oil had a net margin of 9.74% and a return on equity of 6.63%. The business had revenue of $926.33 million during the quarter, compared to analyst estimates of $888.51 million. During the same period in the previous year, the company posted $0.27 earnings per share. Murphy Oil’s revenue was up 33.5% on a year-over-year basis. As a group, equities analysts anticipate that Murphy Oil Corporation will post 2.42 EPS for the current fiscal year.

Murphy Oil Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend was Monday, August 17th. Murphy Oil’s dividend payout ratio is currently 69.31%.

Murphy Oil Profile

Murphy Oil Corporation (NYSE:MUR) is an independent oil and natural gas exploration and production company. Its activities include acquiring acreage, drilling and developing wells, and producing crude oil, natural gas and natural gas liquids for sale to customers and markets.

The company’s portfolio is primarily focused on onshore assets in the United States, including operations in the Eagle Ford and other U.S. resource plays, as well as offshore production in the Gulf of Mexico. Murphy Oil has also maintained an international exploration and production presence, including projects in Canada and Malaysia, though its asset portfolio has changed over time through acquisitions and divestitures.

Murphy Oil traces its roots to the Murphy family’s business interests and has operated as a publicly traded energy company for decades.