Murphy Oil Corp. (MUR) Stake Raised by Highland Capital Management LLC
Highland Capital Management LLC boosted its position in shares of Murphy Oil Corp. (NYSE:MUR) by 0.6% during the third quarter, Holdings Channel reports. The fund owned 71,627 shares of the company’s stock after buying an additional 455 shares during the period. Highland Capital Management LLC’s holdings in Murphy Oil Corp. were worth $2,177,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Capstone Asset Management Co. boosted its position in Murphy Oil Corp. by 0.9% in the third quarter. Capstone Asset Management Co. now owns 10,049 shares of the company’s stock worth $305,000 after buying an additional 90 shares during the last quarter. British Columbia Investment Management Corp boosted its position in Murphy Oil Corp. by 20.0% in the third quarter. British Columbia Investment Management Corp now owns 73,456 shares of the company’s stock worth $2,233,000 after buying an additional 12,246 shares during the last quarter. BNP Paribas Arbitrage SA boosted its position in Murphy Oil Corp. by 8.9% in the third quarter. BNP Paribas Arbitrage SA now owns 12,721 shares of the company’s stock worth $387,000 after buying an additional 1,040 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in Murphy Oil Corp. during the second quarter worth approximately $208,000. Finally, Kentucky Retirement Systems purchased a new position in Murphy Oil Corp. during the second quarter worth approximately $437,000. Institutional investors own 93.86% of the company’s stock.
Shares of Murphy Oil Corp. (NYSE:MUR) traded down 0.94% during mid-day trading on Tuesday, hitting $29.42. The company had a trading volume of 3,231,987 shares. The company has a 50-day moving average price of $28.74 and a 200-day moving average price of $29.10. Murphy Oil Corp. has a 1-year low of $14.30 and a 1-year high of $37.48. The company’s market capitalization is $5.07 billion.
Murphy Oil Corp. (NYSE:MUR) last posted its earnings results on Wednesday, October 26th. The company reported ($0.18) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.02. Murphy Oil Corp. had a negative return on equity of 6.50% and a negative net margin of 39.44%. During the same quarter last year, the company earned ($0.72) earnings per share. On average, equities analysts anticipate that Murphy Oil Corp. will post ($1.31) EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Monday, November 14th will be issued a dividend of $0.25 per share. The ex-dividend date is Wednesday, November 9th. This represents a $1.00 dividend on an annualized basis and a yield of 3.40%. Murphy Oil Corp.’s dividend payout ratio is currently -21.55%.
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A number of brokerages have issued reports on MUR. Barclays PLC reiterated an “overweight” rating and set a $42.00 price objective on shares of Murphy Oil Corp. in a research note on Monday, October 10th. Zacks Investment Research upgraded Murphy Oil Corp. from a “hold” rating to a “buy” rating and set a $33.00 price objective for the company in a research note on Wednesday, October 12th. reiterated a “sell” rating on shares of Murphy Oil Corp. in a research note on Tuesday, August 16th. Finally, Nomura reiterated a “hold” rating and set a $28.00 price objective on shares of Murphy Oil Corp. in a research note on Monday, November 7th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the stock. Murphy Oil Corp. presently has an average rating of “Hold” and an average target price of $27.11.
About Murphy Oil Corp.
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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