40,091 Shares in Murphy Oil Co. (NYSE:MUR) Bought by Summit Financial LLC

Summit Financial LLC bought a new stake in shares of Murphy Oil Co. (NYSE:MUR - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 40,091 shares of the oil and gas producer's stock, valued at approximately $1,213,000.

A number of other large investors also recently made changes to their positions in MUR. Arrowstreet Capital Limited Partnership increased its holdings in Murphy Oil by 108.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,529,528 shares of the oil and gas producer's stock valued at $46,284,000 after purchasing an additional 794,730 shares during the last quarter. Pictet Asset Management Holding SA grew its position in shares of Murphy Oil by 9.7% during the 4th quarter. Pictet Asset Management Holding SA now owns 20,146 shares of the oil and gas producer's stock worth $610,000 after buying an additional 1,778 shares during the period. New Age Alpha Advisors LLC bought a new stake in shares of Murphy Oil in the 4th quarter valued at about $3,148,000. Elo Mutual Pension Insurance Co acquired a new stake in shares of Murphy Oil in the 4th quarter valued at approximately $343,000. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its stake in Murphy Oil by 28.9% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 163,943 shares of the oil and gas producer's stock worth $4,961,000 after acquiring an additional 36,749 shares during the last quarter. Institutional investors and hedge funds own 78.31% of the company's stock.

Analyst Upgrades and Downgrades

MUR has been the topic of several analyst reports. Piper Sandler cut their target price on shares of Murphy Oil from $35.00 to $34.00 and set an "overweight" rating on the stock in a report on Thursday, March 6th. UBS Group reduced their target price on Murphy Oil from $34.00 to $32.00 and set a "neutral" rating on the stock in a report on Monday, February 3rd. Truist Financial cut Murphy Oil from a "buy" rating to a "hold" rating and lowered their target price for the stock from $42.00 to $31.00 in a research note on Friday, January 31st. Wells Fargo & Company reaffirmed an "equal weight" rating on shares of Murphy Oil in a research note on Monday, February 3rd. Finally, Morgan Stanley reduced their price target on Murphy Oil from $37.00 to $32.00 and set an "underweight" rating for the company in a research report on Thursday, March 27th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $34.92.

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Insider Transactions at Murphy Oil

In other Murphy Oil news, Director Claiborne P. Deming acquired 50,000 shares of the company's stock in a transaction on Tuesday, February 4th. The stock was acquired at an average price of $26.47 per share, for a total transaction of $1,323,500.00. Following the purchase, the director now directly owns 931,651 shares of the company's stock, valued at $24,660,801.97. This trade represents a 5.67 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Meenambigai Palanivelu bought 1,573 shares of the firm's stock in a transaction on Wednesday, February 5th. The shares were acquired at an average price of $26.70 per share, for a total transaction of $41,999.10. Following the transaction, the vice president now owns 37,065 shares in the company, valued at approximately $989,635.50. This represents a 4.43 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 5.92% of the company's stock.

Murphy Oil Stock Performance

Shares of MUR stock traded down $3.81 during trading on Thursday, reaching $25.41. 3,907,385 shares of the company's stock were exchanged, compared to its average volume of 1,913,768. Murphy Oil Co. has a twelve month low of $22.90 and a twelve month high of $49.14. The firm's fifty day moving average price is $27.10 and its 200-day moving average price is $30.56. The company has a quick ratio of 0.77, a current ratio of 0.83 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $3.71 billion, a PE ratio of 9.44 and a beta of 2.18.

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

Murphy Oil Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Friday, May 16th will be given a dividend of $0.325 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $1.30 annualized dividend and a yield of 5.12%. Murphy Oil's dividend payout ratio (DPR) is presently 48.33%.

Murphy Oil 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.