Voloridge Investment Management LLC Invests $2.70 Million in Murphy Oil Co. (NYSE:MUR)

Voloridge Investment Management LLC purchased a new position in shares of Murphy Oil Co. (NYSE:MUR) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 122,151 shares of the oil and gas producer’s stock, valued at approximately $2,701,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MUR. Caymus Capital Partners L.P. bought a new position in Murphy Oil in the 2nd quarter valued at $44,387,000. Point72 Asset Management L.P. lifted its position in Murphy Oil by 2,225.0% during the 3rd quarter. Point72 Asset Management L.P. now owns 1,144,407 shares of the oil and gas producer’s stock worth $25,303,000 after buying an additional 1,095,185 shares in the last quarter. Wedge Capital Management L L P NC lifted its position in Murphy Oil by 14.6% during the 3rd quarter. Wedge Capital Management L L P NC now owns 4,923,941 shares of the oil and gas producer’s stock worth $108,868,000 after buying an additional 628,776 shares in the last quarter. Nuveen Asset Management LLC bought a new stake in Murphy Oil during the 2nd quarter worth about $13,900,000. Finally, KBC Group NV acquired a new stake in Murphy Oil in the 2nd quarter valued at about $12,497,000. Institutional investors and hedge funds own 94.97% of the company’s stock.

MUR has been the subject of a number of research analyst reports. MKM Partners set a $38.00 target price on shares of Murphy Oil and gave the stock a “buy” rating in a research note on Monday, August 12th. Scotiabank cut shares of Murphy Oil from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, November 12th. Wells Fargo & Co lowered their price target on shares of Murphy Oil from $28.00 to $23.00 and set a “market perform” rating for the company in a report on Friday, September 6th. BMO Capital Markets began coverage on shares of Murphy Oil in a research report on Monday, September 30th. They issued an “outperform” rating and a $27.00 price objective for the company. Finally, UBS Group dropped their price objective on shares of Murphy Oil from $29.00 to $27.00 and set a “neutral” rating for the company in a research report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $30.47.

NYSE MUR opened at $23.46 on Tuesday. The stock has a 50-day simple moving average of $22.22 and a 200 day simple moving average of $22.41. The company has a market capitalization of $3.62 billion, a PE ratio of 22.34 and a beta of 2.09. The company has a current ratio of 1.23, a quick ratio of 1.14 and a debt-to-equity ratio of 0.54. Murphy Oil Co. has a 12 month low of $17.04 and a 12 month high of $33.21.

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Murphy Oil (NYSE:MUR) last released its earnings results on Thursday, October 31st. The oil and gas producer reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.14. Murphy Oil had a return on equity of 3.21% and a net margin of 47.16%. The firm had revenue of $817.08 million for the quarter, compared to analyst estimates of $701.64 million. During the same quarter in the prior year, the firm posted ($0.02) earnings per share. The company’s quarterly revenue was up 66.6% on a year-over-year basis. As a group, sell-side analysts predict that Murphy Oil Co. will post 1.06 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 18th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.26%. Murphy Oil’s payout ratio is 79.37%.

In related news, SVP Thomas J. Mireles sold 1,368 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $24.64, for a total value of $33,707.52. Following the sale, the senior vice president now directly owns 20,000 shares of the company’s stock, valued at approximately $492,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 6.46% of the company’s stock.

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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Institutional Ownership by Quarter for Murphy Oil (NYSE:MUR)

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