7,190 Shares in Murphy Oil Co. (NYSE:MUR) Purchased by Signet Financial Management LLC

Signet Financial Management LLC bought a new position in shares of Murphy Oil Co. (NYSE:MUR) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 7,190 shares of the oil and gas producer’s stock, valued at approximately $204,000.

Several other hedge funds have also recently bought and sold shares of the company. LSV Asset Management lifted its stake in Murphy Oil by 4.3% during the 4th quarter. LSV Asset Management now owns 2,807,277 shares of the oil and gas producer’s stock worth $84,948,000 after acquiring an additional 114,656 shares in the last quarter. Northern Trust Corp raised its position in Murphy Oil by 5.1% in the 4th quarter. Northern Trust Corp now owns 2,234,585 shares of the oil and gas producer’s stock valued at $67,619,000 after purchasing an additional 107,871 shares in the last quarter. Ameriprise Financial Inc. raised its position in Murphy Oil by 61.9% in the 4th quarter. Ameriprise Financial Inc. now owns 2,147,590 shares of the oil and gas producer’s stock valued at $64,986,000 after purchasing an additional 821,427 shares in the last quarter. Bank of New York Mellon Corp raised its position in Murphy Oil by 0.7% in the 4th quarter. Bank of New York Mellon Corp now owns 1,857,702 shares of the oil and gas producer’s stock valued at $56,214,000 after purchasing an additional 13,263 shares in the last quarter. Finally, American Century Companies Inc. raised its position in Murphy Oil by 20.4% in the 4th quarter. American Century Companies Inc. now owns 1,674,590 shares of the oil and gas producer’s stock valued at $50,673,000 after purchasing an additional 283,695 shares in the last quarter. Institutional investors and hedge funds own 78.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on MUR shares. Johnson Rice lowered Murphy Oil from an “accumulate” rating to a “hold” rating in a research report on Wednesday, May 21st. UBS Group reduced their price target on Murphy Oil from $28.00 to $23.00 and set a “neutral” rating on the stock in a research report on Monday, April 7th. Scotiabank dropped their price objective on Murphy Oil from $36.00 to $22.00 and set a “sector perform” rating on the stock in a report on Friday, April 11th. Wells Fargo & Company dropped their price objective on Murphy Oil from $31.00 to $26.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 14th. Finally, Piper Sandler dropped their price objective on Murphy Oil from $35.00 to $30.00 and set an “overweight” rating on the stock in a report on Tuesday, May 13th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $29.23.

Murphy Oil Price Performance

Shares of NYSE MUR opened at $23.84 on Wednesday. Murphy Oil Co. has a 1-year low of $18.95 and a 1-year high of $43.02. The business has a 50-day moving average of $21.44 and a 200-day moving average of $26.33. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.83 and a quick ratio of 0.77. The company has a market capitalization of $3.40 billion, a price-to-earnings ratio of 8.86 and a beta of 1.09.

Murphy Oil (NYSE:MUR) last issued its quarterly earnings results on Wednesday, May 7th. The oil and gas producer reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.08. The firm had revenue of $665.71 million during the quarter, compared to the consensus estimate of $684.89 million. Murphy Oil had a return on equity of 7.66% and a net margin of 13.44%. Murphy Oil’s revenue for the quarter was down 15.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.85 earnings per share. On average, equities analysts anticipate that Murphy Oil Co. will post 2.94 EPS for the current fiscal year.

Murphy Oil Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 16th were paid a dividend of $0.325 per share. This represents a $1.30 annualized dividend and a yield of 5.45%. The ex-dividend date of this dividend was Friday, May 16th. Murphy Oil’s payout ratio is currently 50.00%.

About Murphy Oil

Murphy Oil Corporation, together with its subsidiaries, operates as an oil and gas exploration and production company in the United States, Canada, 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.