Kingsview Wealth Management LLC reduced its position in shares of Murphy Oil Corporation (NYSE:MUR – Free Report) by 18.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 96,998 shares of the oil and gas producer’s stock after selling 21,678 shares during the quarter. Kingsview Wealth Management LLC owned 0.07% of Murphy Oil worth $3,031,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of the company. American Century Companies Inc. increased its stake in Murphy Oil by 21.8% during the 3rd quarter. American Century Companies Inc. now owns 3,736,815 shares of the oil and gas producer’s stock valued at $106,163,000 after purchasing an additional 668,525 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Murphy Oil by 8.3% in the third quarter. AQR Capital Management LLC now owns 2,656,394 shares of the oil and gas producer’s stock worth $75,468,000 after acquiring an additional 204,349 shares during the period. Bank of America Corp DE grew its stake in shares of Murphy Oil by 33.3% in the third quarter. Bank of America Corp DE now owns 2,056,427 shares of the oil and gas producer’s stock worth $58,423,000 after acquiring an additional 514,127 shares during the period. Victory Capital Management Inc. grew its stake in shares of Murphy Oil by 0.9% in the third quarter. Victory Capital Management Inc. now owns 2,030,794 shares of the oil and gas producer’s stock worth $57,695,000 after acquiring an additional 18,717 shares during the period. Finally, SIR Capital Management L.P. bought a new stake in shares of Murphy Oil in the third quarter worth approximately $30,896,000. 78.31% of the stock is currently owned by institutional investors.
Murphy Oil Stock Performance
Shares of MUR stock opened at $36.15 on Friday. The company has a quick ratio of 0.77, a current ratio of 0.83 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $5.18 billion, a PE ratio of 61.27 and a beta of 0.55. The company has a 50 day moving average price of $39.13 and a 200-day moving average price of $34.64. Murphy Oil Corporation has a 52 week low of $20.78 and a 52 week high of $43.34.
Murphy Oil Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Monday, May 18th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Monday, May 18th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.9%. Murphy Oil’s dividend payout ratio (DPR) is presently 237.29%.
Analyst Upgrades and Downgrades
MUR has been the subject of a number of research analyst reports. Piper Sandler upgraded shares of Murphy Oil from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $33.00 to $41.00 in a research note on Thursday, March 12th. BMO Capital Markets reiterated a “market perform” rating on shares of Murphy Oil in a research note on Tuesday, February 3rd. Johnson Rice upgraded shares of Murphy Oil from a “hold” rating to an “accumulate” rating in a research note on Wednesday, March 25th. The Goldman Sachs Group lifted their price target on shares of Murphy Oil from $29.00 to $33.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 11th. Finally, Mizuho lifted their price target on shares of Murphy Oil from $39.00 to $44.00 and gave the stock a “neutral” rating in a research note on Wednesday. Two research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Murphy Oil has an average rating of “Hold” and an average price target of $36.82.
Read Our Latest Analysis on MUR
Insider Activity
In related news, SVP Daniel R. Hanchera sold 47,320 shares of the firm’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $33.79, for a total value of $1,598,942.80. Following the transaction, the senior vice president owned 36,166 shares of the company’s stock, valued at approximately $1,222,049.14. This trade represents a 56.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 5.79% of the company’s stock.
Murphy Oil Company 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.
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