200,000 Shares in Murphy Oil Co. (MUR) Acquired by Point72 Asset Management L.P.
Point72 Asset Management L.P. bought a new stake in Murphy Oil Co. (NYSE:MUR) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 200,000 shares of the oil and gas producer’s stock, valued at approximately $6,754,000.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Raymond James & Associates grew its stake in Murphy Oil by 15.3% in the second quarter. Raymond James & Associates now owns 119,236 shares of the oil and gas producer’s stock valued at $4,027,000 after purchasing an additional 15,819 shares during the last quarter. King Luther Capital Management Corp grew its stake in shares of Murphy Oil by 3.4% during the second quarter. King Luther Capital Management Corp now owns 97,868 shares of the oil and gas producer’s stock worth $3,305,000 after acquiring an additional 3,208 shares during the last quarter. Glen Harbor Capital Management LLC grew its stake in shares of Murphy Oil by 34.3% during the second quarter. Glen Harbor Capital Management LLC now owns 93,808 shares of the oil and gas producer’s stock worth $3,168,000 after acquiring an additional 23,936 shares during the last quarter. Oregon Public Employees Retirement Fund purchased a new stake in shares of Murphy Oil during the second quarter worth about $2,117,000. Finally, Renaissance Technologies LLC grew its stake in shares of Murphy Oil by 69.5% during the second quarter. Renaissance Technologies LLC now owns 726,600 shares of the oil and gas producer’s stock worth $24,537,000 after acquiring an additional 298,000 shares during the last quarter. Institutional investors own 89.62% of the company’s stock.
A number of brokerages have recently weighed in on MUR. Zacks Investment Research lowered Murphy Oil from a “buy” rating to a “hold” rating in a research note on Tuesday, August 28th. KLR Group reaffirmed a “buy” rating and set a $39.00 target price on shares of Murphy Oil in a report on Monday, August 20th. Morgan Stanley decreased their target price on Murphy Oil from $26.00 to $24.00 and set a “sell” rating for the company in a report on Thursday, August 16th. Wells Fargo & Co decreased their target price on Murphy Oil from $36.00 to $34.00 and set a “market perform” rating for the company in a report on Friday, August 10th. Finally, Mizuho initiated coverage on Murphy Oil in a report on Monday, July 23rd. They set an “underperform” rating and a $36.00 target price for the company. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $33.30.
Murphy Oil (NYSE:MUR) last released its earnings results on Wednesday, August 8th. The oil and gas producer reported $0.36 EPS for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.01. Murphy Oil had a positive return on equity of 2.32% and a negative net margin of 6.19%. The firm had revenue of $655.15 million during the quarter, compared to the consensus estimate of $623.76 million. During the same quarter in the previous year, the company posted ($0.11) earnings per share. The company’s revenue was up 37.2% compared to the same quarter last year. equities analysts anticipate that Murphy Oil Co. will post 1.64 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 4th. Shareholders of record on Monday, August 13th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date was Friday, August 10th. Murphy Oil’s payout ratio is presently -769.23%.
About Murphy Oil
Murphy Oil Corporation operates as an oil and gas exploration and production company worldwide. 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. Murphy Oil Corporation was founded in 1950 and is headquartered in El Dorado, Arkansas.
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