Murphy Oil Co. (NYSE:MUR) Position Lessened by Aigen Investment Management LP

Aigen Investment Management LP lowered its position in Murphy Oil Co. (NYSE:MUR) by 57.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,946 shares of the oil and gas producer’s stock after selling 14,701 shares during the quarter. Aigen Investment Management LP’s holdings in Murphy Oil were worth $369,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of MUR. Dimensional Fund Advisors LP increased its holdings 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 buying an additional 262,256 shares during the last quarter. Earnest Partners LLC increased its stake in shares of Murphy Oil by 7.7% during the 1st quarter. Earnest Partners LLC now owns 2,737,409 shares of the oil and gas producer’s stock worth $125,100,000 after purchasing an additional 195,906 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Murphy Oil by 5.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,138,985 shares of the oil and gas producer’s stock valued at $88,212,000 after purchasing an additional 107,462 shares in the last quarter. International Assets Investment Management LLC lifted its stake in shares of Murphy Oil by 3,191.6% in the 3rd 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 purchasing an additional 1,577,831 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in Murphy Oil by 90.5% in the second quarter. Assenagon Asset Management S.A. now owns 1,092,374 shares of the oil and gas producer’s stock worth $45,050,000 after purchasing an additional 518,904 shares in the last quarter. 78.31% of the stock is owned by institutional investors and hedge funds.

Murphy Oil Stock Performance

NYSE MUR opened at $33.33 on Friday. The company’s fifty day moving average is $33.78 and its two-hundred day moving average is $38.09. Murphy Oil Co. has a 52-week low of $30.99 and a 52-week high of $49.14. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.71 and a quick ratio of 0.65. The firm has a market capitalization of $4.86 billion, a price-to-earnings ratio of 10.75 and a beta of 2.21.

Murphy Oil (NYSE:MUR) last released its earnings results on Thursday, November 7th. The oil and gas producer reported $0.74 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.02). The firm had revenue of $758.33 million for the quarter, compared to analyst estimates of $759.74 million. Murphy Oil had a return on equity of 9.22% and a net margin of 14.78%. The firm’s quarterly revenue was down 21.0% compared to the same quarter last year. During the same period last year, the business earned $1.59 earnings per share. Equities research analysts forecast that Murphy Oil Co. will post 3.33 EPS for the current year.

Murphy Oil Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be paid a $0.30 dividend. The ex-dividend date is Monday, November 18th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.60%. Murphy Oil’s payout ratio is 38.71%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MUR. Wolfe Research started coverage on Murphy Oil in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. JPMorgan Chase & Co. cut their price objective on Murphy Oil from $47.00 to $39.00 and set a “neutral” rating on the stock in a research note on Thursday, September 12th. Piper Sandler decreased their target price on Murphy Oil from $44.00 to $43.00 and set an “overweight” rating for the company in a research report on Tuesday, October 15th. BMO Capital Markets dropped their price target on shares of Murphy Oil from $42.00 to $40.00 and set a “market perform” rating on the stock in a research report on Friday, October 4th. Finally, KeyCorp decreased their price objective on shares of Murphy Oil from $54.00 to $50.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Ten investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $41.08.

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.