James Investment Research Inc. lowered its stake in shares of Murphy Oil Co. (NYSE:MUR) by 8.9% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 65,430 shares of the oil and gas producer’s stock after selling 6,380 shares during the period. James Investment Research Inc.’s holdings in Murphy Oil were worth $2,181,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Qube Research & Technologies Ltd acquired a new position in shares of Murphy Oil during the second quarter valued at about $126,000. Legacy Financial Advisors Inc. acquired a new position in shares of Murphy Oil during the second quarter valued at about $135,000. North Star Investment Management Corp. acquired a new position in shares of Murphy Oil during the second quarter valued at about $142,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in shares of Murphy Oil during the second quarter valued at about $201,000. Finally, Foundation Resource Management Inc. acquired a new position in shares of Murphy Oil during the second quarter valued at about $203,000. 89.62% of the stock is owned by institutional investors and hedge funds.
NYSE:MUR opened at $31.86 on Thursday. Murphy Oil Co. has a 12-month low of $24.39 and a 12-month high of $36.53. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.46 and a quick ratio of 1.35. The stock has a market capitalization of $5.41 billion, a P/E ratio of 48.89 and a beta of 2.26.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Investors of record on Monday, November 12th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.14%. The ex-dividend date of this dividend is Thursday, November 8th. Murphy Oil’s dividend payout ratio (DPR) is presently -769.23%.
A number of research analysts have recently commented on the stock. Credit Suisse Group upped their price objective on shares of Murphy Oil from $37.00 to $39.00 and gave the company a “neutral” rating in a research report on Thursday, October 11th. Barclays upped their price objective on shares of Murphy Oil from $34.00 to $36.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 11th. Zacks Investment Research raised shares of Murphy Oil from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a research report on Tuesday, October 23rd. Mizuho assumed coverage on shares of Murphy Oil in a research report on Monday, July 23rd. They set an “underperform” rating and a $36.00 price objective for the company. Finally, Piper Jaffray Companies reaffirmed a “neutral” rating on shares of Murphy Oil in a research report on Friday, September 28th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $36.27.
Murphy Oil Profile
Murphy Oil Corporation operates as an oil and gas exploration and production company worldwide. 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. Murphy Oil Corporation was founded in 1950 and is headquartered in El Dorado, Arkansas.
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