Elm Ridge Management LLC Decreases Holdings in Murphy Oil Co. (MUR)
Elm Ridge Management LLC reduced its holdings in shares of Murphy Oil Co. (NYSE:MUR) by 36.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 272,583 shares of the oil and gas producer’s stock after selling 153,523 shares during the quarter. Murphy Oil accounts for 3.0% of Elm Ridge Management LLC’s portfolio, making the stock its 15th largest position. Elm Ridge Management LLC owned about 0.16% of Murphy Oil worth $7,240,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Hotchkis & Wiley Capital Management LLC lifted its position in shares of Murphy Oil by 3.2% during the second quarter. Hotchkis & Wiley Capital Management LLC now owns 14,581,270 shares of the oil and gas producer’s stock worth $373,718,000 after purchasing an additional 445,500 shares in the last quarter. BlackRock Inc. lifted its position in shares of Murphy Oil by 2.2% during the second quarter. BlackRock Inc. now owns 12,162,743 shares of the oil and gas producer’s stock worth $311,730,000 after purchasing an additional 265,161 shares in the last quarter. FMR LLC lifted its position in shares of Murphy Oil by 4.7% during the second quarter. FMR LLC now owns 11,806,976 shares of the oil and gas producer’s stock worth $302,613,000 after purchasing an additional 529,291 shares in the last quarter. State Street Corp lifted its position in shares of Murphy Oil by 4.6% during the second quarter. State Street Corp now owns 11,373,872 shares of the oil and gas producer’s stock worth $291,513,000 after purchasing an additional 503,190 shares in the last quarter. Finally, Pzena Investment Management LLC lifted its position in shares of Murphy Oil by 1.0% during the third quarter. Pzena Investment Management LLC now owns 9,609,282 shares of the oil and gas producer’s stock worth $255,223,000 after purchasing an additional 98,500 shares in the last quarter. Institutional investors own 96.87% of the company’s stock.
A number of research firms have recently commented on MUR. Morgan Stanley boosted their target price on shares of Murphy Oil from $23.00 to $26.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 18th. BidaskClub cut shares of Murphy Oil from a “hold” rating to a “sell” rating in a research report on Thursday, August 17th. Credit Suisse Group began coverage on shares of Murphy Oil in a research report on Monday. They set a “neutral” rating and a $30.00 target price on the stock. Zacks Investment Research cut shares of Murphy Oil from a “buy” rating to a “hold” rating in a research report on Monday, October 30th. Finally, ValuEngine cut shares of Murphy Oil from a “hold” rating to a “sell” rating in a research report on Wednesday, August 23rd. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $29.91.
In related news, Director Robert Madison Murphy sold 6,325 shares of the company’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $28.55, for a total value of $180,578.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP John B. Gardner sold 3,783 shares of the company’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of $27.84, for a total transaction of $105,318.72. The disclosure for this sale can be found here. Insiders purchased 76,500 shares of company stock worth $17,850 over the last ninety days. 6.89% of the stock is currently owned by corporate insiders.
Murphy Oil Co. (NYSE MUR) traded down $0.32 on Thursday, reaching $28.30. 1,542,900 shares of the company traded hands, compared to its average volume of 2,880,436. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.60 and a current ratio of 1.74. Murphy Oil Co. has a 1 year low of $22.21 and a 1 year high of $34.08.
Murphy Oil (NYSE:MUR) last posted its quarterly earnings results on Wednesday, November 1st. The oil and gas producer reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.11. The firm had revenue of $498.31 million for the quarter, compared to analysts’ expectations of $460.17 million. Murphy Oil had a negative net margin of 4.15% and a negative return on equity of 1.25%. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the company posted ($0.18) earnings per share. equities research analysts anticipate that Murphy Oil Co. will post -0.2 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Monday, November 13th were issued a $0.25 dividend. The ex-dividend date was Friday, November 10th. This represents a $1.00 annualized dividend and a yield of 3.53%. Murphy Oil’s dividend payout ratio is presently -196.08%.
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About Murphy Oil
Murphy Oil Corporation (Murphy) 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. Its exploration and production activities are subdivided into four geographic segments: the United States, Canada, Malaysia and all other countries.
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