Axa lowered its stake in shares of Murphy Oil Co. (NYSE:MUR) by 34.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 488,290 shares of the oil and gas producer’s stock after selling 254,300 shares during the period. Axa’s holdings in Murphy Oil were worth $16,279,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently bought and sold shares of MUR. Dupont Capital Management Corp lifted its position in Murphy Oil by 4.3% during the third quarter. Dupont Capital Management Corp now owns 40,051 shares of the oil and gas producer’s stock worth $1,335,000 after buying an additional 1,664 shares during the period. Advisory Services Network LLC lifted its position in Murphy Oil by 11.4% during the second quarter. Advisory Services Network LLC now owns 16,553 shares of the oil and gas producer’s stock worth $546,000 after buying an additional 1,694 shares during the period. GHP Investment Advisors Inc. lifted its position in Murphy Oil by 29.3% during the third quarter. GHP Investment Advisors Inc. now owns 8,294 shares of the oil and gas producer’s stock worth $277,000 after buying an additional 1,879 shares during the period. Strs Ohio lifted its position in Murphy Oil by 24.1% during the third quarter. Strs Ohio now owns 10,897 shares of the oil and gas producer’s stock worth $363,000 after buying an additional 2,116 shares during the period. Finally, Penserra Capital Management LLC lifted its position in Murphy Oil by 102.1% during the third quarter. Penserra Capital Management LLC now owns 5,052 shares of the oil and gas producer’s stock worth $167,000 after buying an additional 2,552 shares during the period. 88.64% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts recently weighed in on the company. Credit Suisse Group increased their target price on Murphy Oil from $37.00 to $39.00 and gave the stock a “neutral” rating in a research report on Thursday, October 11th. Zacks Investment Research upgraded Murphy Oil from a “hold” rating to a “buy” rating and set a $38.00 target price on the stock in a research report on Tuesday, October 23rd. TheStreet upgraded Murphy Oil from a “c+” rating to a “b-” rating in a research report on Thursday, November 8th. Piper Jaffray Companies reiterated a “neutral” rating on shares of Murphy Oil in a research report on Friday, September 28th. Finally, Morgan Stanley reduced their target price on Murphy Oil from $26.00 to $24.00 and set a “sell” rating on the stock in a research report on Thursday, August 16th. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $35.73.
Murphy Oil (NYSE:MUR) last released its quarterly earnings data on Wednesday, November 7th. The oil and gas producer reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). The firm had revenue of $674.80 million during the quarter, compared to analysts’ expectations of $633.20 million. Murphy Oil had a return on equity of 3.77% and a net margin of 0.86%. The business’s revenue for the quarter was up 35.4% compared to the same quarter last year. During the same quarter last year, the business earned ($0.38) earnings per share. On average, equities analysts forecast that Murphy Oil Co. will post 1.54 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Monday, November 12th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.33%. Murphy Oil’s dividend payout ratio (DPR) is -769.23%.
In related news, insider Kelli M. Hammock sold 2,595 shares of the firm’s stock in a transaction dated Friday, November 16th. The stock was sold at an average price of $31.56, for a total transaction of $81,898.20. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Claiborne P. Deming bought 10,000 shares of the company’s stock in a transaction that occurred on Monday, November 19th. The shares were bought at an average price of $31.60 per share, for a total transaction of $316,000.00. The disclosure for this purchase can be found here. Company insiders own 6.89% of the company’s stock.
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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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