Geode Capital Management LLC Boosts Holdings in Murphy Oil Co. (NYSE:MUR)

Geode Capital Management LLC increased its holdings in Murphy Oil Co. (NYSE:MUR - Free Report) by 1.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,548,711 shares of the oil and gas producer's stock after acquiring an additional 45,432 shares during the period. Geode Capital Management LLC owned about 2.43% of Murphy Oil worth $119,755,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in MUR. International Assets Investment Management LLC raised its holdings in shares of Murphy Oil by 3,191.6% in the 3rd quarter. International Assets Investment Management LLC now owns 1,627,268 shares of the oil and gas producer's stock worth $54,904,000 after acquiring an additional 1,577,831 shares during the last quarter. Barclays PLC increased its stake in Murphy Oil by 399.4% in the 3rd quarter. Barclays PLC now owns 1,012,944 shares of the oil and gas producer's stock valued at $34,177,000 after buying an additional 810,104 shares during the last quarter. Wedge Capital Management L L P NC increased its stake in Murphy Oil by 641.7% in the 3rd quarter. Wedge Capital Management L L P NC now owns 672,717 shares of the oil and gas producer's stock valued at $22,697,000 after buying an additional 582,020 shares during the last quarter. Squarepoint Ops LLC increased its stake in Murphy Oil by 92.1% in the 2nd quarter. Squarepoint Ops LLC now owns 687,254 shares of the oil and gas producer's stock valued at $28,342,000 after buying an additional 329,521 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Murphy Oil by 3.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 8,254,125 shares of the oil and gas producer's stock valued at $340,400,000 after buying an additional 262,256 shares during the last quarter. Institutional investors and hedge funds own 78.31% of the company's stock.

Murphy Oil Stock Performance

MUR traded down $0.77 on Wednesday, hitting $28.51. The company's stock had a trading volume of 2,990,563 shares, compared to its average volume of 1,659,965. The company's 50 day simple moving average is $32.25 and its 200-day simple moving average is $36.05. The firm has a market cap of $4.16 billion, a P/E ratio of 9.20 and a beta of 2.18. Murphy Oil Co. has a 12 month low of $28.38 and a 12 month high of $49.14. The company has a quick ratio of 0.65, a current ratio of 0.71 and a debt-to-equity ratio of 0.24.

Murphy Oil (NYSE:MUR - Get Free Report) last posted its earnings results on Thursday, November 7th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.02). Murphy Oil had a return on equity of 9.22% and a net margin of 14.78%. The firm had revenue of $758.33 million during the quarter, compared to analysts' expectations of $759.74 million. During the same quarter in the prior year, the company earned $1.59 earnings per share. The business's revenue for the quarter was down 21.0% compared to the same quarter last year. Analysts forecast that Murphy Oil Co. will post 3.15 EPS for the current year.

Murphy Oil Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 18th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 4.21%. The ex-dividend date of this dividend was Monday, November 18th. Murphy Oil's dividend payout ratio is presently 38.71%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Scotiabank decreased their price objective on shares of Murphy Oil from $47.00 to $36.00 and set a "sector perform" rating for the company in a research note on Thursday, October 10th. Truist Financial decreased their price objective on shares of Murphy Oil from $55.00 to $42.00 and set a "buy" rating for the company in a research note on Monday, September 30th. Morgan Stanley decreased their price objective on shares of Murphy Oil from $43.00 to $39.00 and set an "equal weight" rating for the company in a research note on Monday, September 16th. The Goldman Sachs Group reduced their target price on shares of Murphy Oil from $44.00 to $39.00 and set a "neutral" rating for the company in a research report on Monday, October 7th. Finally, Piper Sandler reduced their target price on shares of Murphy Oil from $42.00 to $39.00 and set an "overweight" rating for the company in a research report on Tuesday. Ten investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $39.58.

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.