Meeder Asset Management Inc. Buys New Position in Murphy Oil Co. (NYSE:MUR)

Meeder Asset Management Inc. acquired a new stake in shares of Murphy Oil Co. (NYSE:MUR - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 66,142 shares of the oil and gas producer's stock, valued at approximately $2,232,000.

A number of other hedge funds also recently bought and sold shares of MUR. Signaturefd LLC increased its holdings in shares of Murphy Oil by 14.5% during the 2nd quarter. Signaturefd LLC now owns 2,441 shares of the oil and gas producer's stock worth $101,000 after buying an additional 310 shares during the last quarter. Lindenwold Advisors INC raised its position in Murphy Oil by 3.5% in the third quarter. Lindenwold Advisors INC now owns 10,529 shares of the oil and gas producer's stock valued at $355,000 after purchasing an additional 358 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in Murphy Oil by 16.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,140 shares of the oil and gas producer's stock valued at $129,000 after purchasing an additional 438 shares during the period. Clear Creek Financial Management LLC boosted its stake in Murphy Oil by 8.1% during the third quarter. Clear Creek Financial Management LLC now owns 6,574 shares of the oil and gas producer's stock worth $222,000 after buying an additional 494 shares during the period. Finally, Mather Group LLC. increased its position in shares of Murphy Oil by 1,015.7% during the second quarter. Mather Group LLC. now owns 569 shares of the oil and gas producer's stock valued at $26,000 after acquiring an additional 518 shares during the last quarter. Institutional investors and hedge funds own 78.31% of the company's stock.

Murphy Oil Stock Down 1.4 %

Shares of MUR stock traded down $0.47 on Tuesday, reaching $32.51. 1,330,150 shares of the stock were exchanged, compared to its average volume of 1,661,852. The company has a market capitalization of $4.74 billion, a price-to-earnings ratio of 10.49 and a beta of 2.21. The business's 50 day moving average price is $33.68 and its 200 day moving average price is $37.74. The company has a current ratio of 0.71, a quick ratio of 0.65 and a debt-to-equity ratio of 0.24. Murphy Oil Co. has a twelve month low of $30.99 and a twelve month high of $49.14.

Murphy Oil (NYSE:MUR - Get Free Report) last released its quarterly earnings data 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 business had revenue of $758.33 million for the quarter, compared to analyst estimates of $759.74 million. During the same period in the prior year, the company posted $1.59 earnings per share. The company's revenue was down 21.0% compared to the same quarter last year. As a group, sell-side analysts expect that Murphy Oil Co. will post 3.3 earnings per share for the current fiscal year.

Murphy Oil Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.20 dividend on an annualized basis and a yield of 3.69%. Murphy Oil's payout ratio is currently 38.71%.

Analysts Set New Price Targets

MUR has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lowered their price objective on shares of Murphy Oil from $47.00 to $39.00 and set a "neutral" rating for the company in a research report on Thursday, September 12th. Piper Sandler lowered their price target on Murphy Oil from $43.00 to $42.00 and set an "overweight" rating for the company in a research report on Monday. Truist Financial decreased their target price on Murphy Oil from $55.00 to $42.00 and set a "buy" rating on the stock in a research note on Monday, September 30th. Wells Fargo & Company dropped their target price on Murphy Oil from $41.00 to $39.00 and set an "equal weight" rating for the company in a research report on Friday, September 27th. Finally, The Goldman Sachs Group reduced their price target on shares of Murphy Oil from $44.00 to $39.00 and set a "neutral" rating on the stock in a research report on Monday, October 7th. Ten research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, Murphy Oil presently has a consensus rating of "Hold" and a consensus target price of $40.92.

Murphy Oil Company Profile

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.