Poplar Forest Capital LLC Sells 98,115 Shares of Murphy Oil Co. (NYSE:MUR)

Poplar Forest Capital LLC reduced its position in Murphy Oil Co. (NYSE:MUR - Free Report) by 22.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 339,708 shares of the oil and gas producer's stock after selling 98,115 shares during the period. Murphy Oil accounts for approximately 1.9% of Poplar Forest Capital LLC's portfolio, making the stock its 25th largest holding. Poplar Forest Capital LLC owned approximately 0.23% of Murphy Oil worth $10,280,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Lindenwold Advisors INC grew its position in shares of 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 in the last quarter. Harbor Capital Advisors Inc. lifted its holdings in shares of Murphy Oil by 1.8% in the fourth quarter. Harbor Capital Advisors Inc. now owns 25,069 shares of the oil and gas producer's stock worth $759,000 after buying an additional 450 shares in the last quarter. Clear Creek Financial Management LLC boosted its position in shares of Murphy Oil by 8.1% in the third quarter. Clear Creek Financial Management LLC now owns 6,574 shares of the oil and gas producer's stock valued at $222,000 after acquiring an additional 494 shares during the period. Covestor Ltd grew its stake in Murphy Oil by 266.8% during the third quarter. Covestor Ltd now owns 741 shares of the oil and gas producer's stock valued at $25,000 after acquiring an additional 539 shares in the last quarter. Finally, KBC Group NV increased its holdings in Murphy Oil by 14.5% during the 3rd quarter. KBC Group NV now owns 4,276 shares of the oil and gas producer's stock worth $144,000 after acquiring an additional 540 shares during the period. Institutional investors own 78.31% of the company's stock.

Murphy Oil Trading Down 6.9 %

Shares of Murphy Oil stock traded down $1.83 during midday trading on Monday, reaching $24.66. 1,697,170 shares of the company's stock traded hands, compared to its average volume of 2,609,321. The stock has a 50 day moving average of $29.36 and a 200-day moving average of $32.15. Murphy Oil Co. has a 12 month low of $24.85 and a 12 month high of $49.14. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.77 and a current ratio of 0.83. The company has a market cap of $3.60 billion, a PE ratio of 9.17 and a beta of 2.14.

Murphy Oil (NYSE:MUR - Get Free Report) last announced its earnings results on Thursday, January 30th. The oil and gas producer reported $0.35 earnings per share (EPS) 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 period in the prior year, the business posted $0.90 earnings per share. As a group, equities analysts expect that Murphy Oil Co. will post 2.94 EPS for the current fiscal year.

Murphy Oil Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Tuesday, February 18th will be paid a $0.325 dividend. This represents a $1.30 annualized dividend and a dividend yield of 5.27%. This is a positive change from Murphy Oil's previous quarterly dividend of $0.30. The ex-dividend date is Tuesday, February 18th. Murphy Oil's dividend payout ratio (DPR) is presently 48.33%.

Insider Activity at Murphy Oil

In other Murphy Oil news, VP Meenambigai Palanivelu bought 1,573 shares of the firm's stock in a transaction on Wednesday, February 5th. The stock was acquired at an average price of $26.70 per share, with a total value of $41,999.10. Following the transaction, the vice president now 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 acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Claiborne P. Deming purchased 50,000 shares of Murphy Oil stock in a transaction dated Tuesday, February 4th. The stock was bought at an average price of $26.47 per share, with a total value of $1,323,500.00. Following the completion of the purchase, the director now directly owns 931,651 shares of the company's stock, valued at approximately $24,660,801.97. This trade represents a 5.67 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 5.92% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on MUR. Mizuho cut their price target on shares of Murphy Oil from $50.00 to $45.00 and set an "outperform" rating for the company in a report on Monday, December 16th. UBS Group reduced their target price on Murphy Oil from $34.00 to $32.00 and set a "neutral" rating for the company in a research report on Monday, February 3rd. Piper Sandler decreased their target price on Murphy Oil from $39.00 to $35.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 29th. Barclays reiterated an "equal weight" rating on shares of Murphy Oil in a research report on Monday, February 3rd. Finally, Morgan Stanley restated an "underweight" rating and issued a $37.00 price objective on shares of Murphy Oil in a research report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Murphy Oil has an average rating of "Hold" and an average target price of $36.38.

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.