Murphy Oil Corp. (MUR) Shares Down 2.8%
Murphy Oil Corp. (NYSE:MUR)’s share price fell 2.8% on Monday . The stock traded as low as $28.83 and last traded at $29.21, with a volume of 1,308,908 shares trading hands. The stock had previously closed at $30.06.
Several brokerages have weighed in on MUR. Credit Agricole SA restated a “sell” rating on shares of Murphy Oil Corp. in a research note on Tuesday, August 16th. Zacks Investment Research lowered Murphy Oil Corp. from a “buy” rating to a “hold” rating in a research report on Thursday, August 11th. Barclays PLC reaffirmed an “overweight” rating and set a $42.00 target price on shares of Murphy Oil Corp. in a research report on Tuesday, August 2nd. JPMorgan Chase & Co. reaffirmed a “hold” rating on shares of Murphy Oil Corp. in a research report on Thursday, June 30th. Finally, Raymond James Financial Inc. raised Murphy Oil Corp. from an “underperform” rating to a “market perform” rating in a research report on Monday, June 20th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $26.91.
The company has a 50-day moving average of $29.27 and a 200 day moving average of $27.23. The company’s market capitalization is $5.01 billion.
Murphy Oil Corp. (NYSE:MUR) last released its earnings results on Wednesday, July 27th. The company reported ($0.36) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.39) by $0.03. During the same period in the prior year, the company earned ($0.48) earnings per share. Analysts expect that Murphy Oil Corp. will post ($1.23) earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 1st. Shareholders of record on Monday, August 15th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.44%. The ex-dividend date is Thursday, August 11th.
In related news, Director Robert Madison Murphy bought 22,594 shares of the company’s stock in a transaction on Monday, August 8th. The shares were acquired at an average cost of $21.93 per share, with a total value of $495,486.42. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Other hedge funds and institutional investors have made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Murphy Oil Corp. during the fourth quarter worth about $2,438,000. US Bancorp DE increased its position in shares of Murphy Oil Corp. by 17.2% in the fourth quarter. US Bancorp DE now owns 108,227 shares of the company’s stock worth $2,430,000 after buying an additional 15,872 shares during the last quarter. Suntrust Banks Inc. increased its position in shares of Murphy Oil Corp. by 30.8% in the fourth quarter. Suntrust Banks Inc. now owns 62,678 shares of the company’s stock worth $1,405,000 after buying an additional 14,775 shares during the last quarter. Airain ltd increased its position in shares of Murphy Oil Corp. by 11.1% in the fourth quarter. Airain ltd now owns 128,036 shares of the company’s stock worth $2,874,000 after buying an additional 12,827 shares during the last quarter. Finally, Bridgewater Associates LP increased its position in shares of Murphy Oil Corp. by 4.3% in the fourth quarter. Bridgewater Associates LP now owns 52,800 shares of the company’s stock worth $1,185,000 after buying an additional 2,200 shares during the last quarter.
Murphy Oil Corporation is an oil and gas exploration and production company. The Company’s exploration and production business explores for and produces crude oil, natural gas and natural gas liquids across the world. The Company’s exploration and production activities are subdivided into four geographic segments, including the United States, Canada, Malaysia and all other countries.
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