Envestnet Asset Management Inc. Has $9.32 Million Stock Position in Murphy Oil Co. (NYSE:MUR)

Envestnet Asset Management Inc. lowered its position in Murphy Oil Co. (NYSE:MUR - Free Report) by 7.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 307,938 shares of the oil and gas producer's stock after selling 23,437 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.21% of Murphy Oil worth $9,318,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in MUR. Foundry Partners LLC grew its position in shares of Murphy Oil by 17.9% in the fourth quarter. Foundry Partners LLC now owns 227,680 shares of the oil and gas producer's stock valued at $6,890,000 after purchasing an additional 34,620 shares during the last quarter. Bank of New York Mellon Corp raised its position in Murphy Oil by 0.7% in the fourth quarter. Bank of New York Mellon Corp now owns 1,857,702 shares of the oil and gas producer's stock worth $56,214,000 after purchasing an additional 13,263 shares in the last quarter. Sanctuary Advisors LLC bought a new position in Murphy Oil during the fourth quarter worth about $618,000. Proficio Capital Partners LLC acquired a new stake in Murphy Oil during the fourth quarter valued at approximately $678,000. Finally, Twin Tree Management LP bought a new stake in shares of Murphy Oil in the 4th quarter valued at approximately $1,230,000. Institutional investors and hedge funds own 78.31% of the company's stock.

Murphy Oil Stock Performance

Shares of Murphy Oil stock traded up $0.18 during trading on Thursday, hitting $20.77. 489,906 shares of the stock were exchanged, compared to its average volume of 2,068,202. The company has a current ratio of 0.83, a quick ratio of 0.77 and a debt-to-equity ratio of 0.24. The company has a fifty day moving average price of $24.95 and a 200-day moving average price of $29.06. The stock has a market capitalization of $2.96 billion, a price-to-earnings ratio of 7.72 and a beta of 1.68. Murphy Oil Co. has a 1-year low of $18.95 and a 1-year high of $46.91.

Murphy Oil (NYSE:MUR - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The oil and gas producer reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.27). Murphy Oil had a return on equity of 7.66% and a net margin of 13.44%. During the same quarter last year, the firm posted $0.90 earnings per share. As a group, equities analysts predict that Murphy Oil Co. will post 2.94 EPS for the current fiscal year.

Murphy Oil Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Friday, May 16th will be given a $0.325 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $1.30 dividend on an annualized basis and a yield of 6.26%. Murphy Oil's dividend payout ratio is currently 48.33%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Scotiabank lowered their price target on Murphy Oil from $36.00 to $22.00 and set a "sector perform" rating on the stock in a research report on Friday, April 11th. Piper Sandler boosted their price target on shares of Murphy Oil from $34.00 to $35.00 and gave the company an "overweight" rating in a research report on Tuesday. JPMorgan Chase & Co. dropped their price objective on shares of Murphy Oil from $33.00 to $28.00 and set a "neutral" rating for the company in a report on Thursday, March 13th. KeyCorp restated a "sector weight" rating on shares of Murphy Oil in a research report on Monday. Finally, UBS Group decreased their price objective on shares of Murphy Oil from $28.00 to $23.00 and set a "neutral" rating on the stock in a report on Monday, April 7th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Murphy Oil presently has an average rating of "Hold" and an average price target of $32.23.

Insiders Place Their Bets

In other Murphy Oil news, VP Meenambigai Palanivelu acquired 1,573 shares of the company's stock in a transaction that occurred on Wednesday, February 5th. The stock was acquired at an average price of $26.70 per share, for a total transaction of $41,999.10. Following the acquisition, the vice president now directly owns 37,065 shares in the company, valued at $989,635.50. This represents a 4.43 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Claiborne P. Deming purchased 50,000 shares of Murphy Oil stock in a transaction on Tuesday, February 4th. The stock was bought at an average price of $26.47 per share, for a total transaction of $1,323,500.00. Following the transaction, the director now directly owns 931,651 shares in the company, valued at approximately $24,660,801.97. The trade was a 5.67 % increase in their position. The disclosure for this purchase can be found here. Insiders own 6.52% of the company's stock.

About Murphy Oil

Murphy Oil Corporation, together with its subsidiaries, operates as an oil and gas exploration and production company in the United States, Canada, and internationally. 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.