Neo Ivy Capital Management Has $2.40 Million Position in Murphy Oil Co. (NYSE:MUR)

Neo Ivy Capital Management increased its stake in Murphy Oil Co. (NYSE:MUR - Free Report) by 597.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,154 shares of the oil and gas producer's stock after acquiring an additional 60,954 shares during the period. Neo Ivy Capital Management's holdings in Murphy Oil were worth $2,400,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in MUR. Dimensional Fund Advisors LP raised its position in Murphy Oil by 3.3% in the second quarter. Dimensional Fund Advisors LP now owns 8,254,125 shares of the oil and gas producer's stock worth $340,400,000 after acquiring an additional 262,256 shares in the last quarter. Geode Capital Management LLC lifted its stake in Murphy Oil by 1.3% during the third quarter. Geode Capital Management LLC now owns 3,548,711 shares of the oil and gas producer's stock valued at $119,755,000 after purchasing an additional 45,432 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its holdings in Murphy Oil by 2.3% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 2,627,701 shares of the oil and gas producer's stock worth $88,659,000 after buying an additional 58,220 shares in the last quarter. Bank of New York Mellon Corp grew its position in Murphy Oil by 5.3% in the second quarter. Bank of New York Mellon Corp now owns 2,138,985 shares of the oil and gas producer's stock worth $88,212,000 after buying an additional 107,462 shares during the last quarter. Finally, International Assets Investment Management LLC increased its holdings in shares of Murphy Oil by 3,191.6% in the third quarter. International Assets Investment Management LLC now owns 1,627,268 shares of the oil and gas producer's stock valued at $54,904,000 after buying an additional 1,577,831 shares in the last quarter. Institutional investors and hedge funds own 78.31% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on MUR shares. KeyCorp cut their price objective on Murphy Oil from $54.00 to $50.00 and set an "overweight" rating on the stock in a report on Wednesday, October 16th. 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 report on Thursday, October 10th. Barclays dropped their price target on shares of Murphy Oil from $38.00 to $37.00 and set an "equal weight" rating on the stock in a research report on Monday, November 11th. Piper Sandler decreased their price target on shares of Murphy Oil from $43.00 to $42.00 and set an "overweight" rating for the company in a report on Monday, November 18th. Finally, JPMorgan Chase & Co. cut their price objective on Murphy Oil from $47.00 to $39.00 and set a "neutral" rating for the company in a research report on Thursday, September 12th. Ten analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, Murphy Oil currently has an average rating of "Hold" and a consensus target price of $40.25.

Murphy Oil Price Performance

Shares of NYSE:MUR traded up $0.11 during trading on Wednesday, reaching $30.38. The stock had a trading volume of 869,439 shares, compared to its average volume of 1,652,384. The stock has a market capitalization of $4.43 billion, a PE ratio of 9.76 and a beta of 2.18. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.71 and a quick ratio of 0.65. Murphy Oil Co. has a 52 week low of $29.84 and a 52 week high of $49.14. The business's 50-day moving average price is $32.92 and its 200 day moving average price is $36.53.

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

Murphy Oil Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 18th were given a $0.30 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $1.20 dividend on an annualized basis and a yield of 3.95%. Murphy Oil's payout ratio is 38.71%.

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.