Kingsview Wealth Management LLC Makes New Investment in Murphy Oil Corporation $MUR

Kingsview Wealth Management LLC purchased a new stake in Murphy Oil Corporation (NYSE:MUR) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 118,676 shares of the oil and gas producer’s stock, valued at approximately $3,372,000. Kingsview Wealth Management LLC owned about 0.08% of Murphy Oil at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Smartleaf Asset Management LLC lifted its stake in Murphy Oil by 67.3% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,094 shares of the oil and gas producer’s stock valued at $32,000 after buying an additional 440 shares in the last quarter. Allworth Financial LP raised its holdings in shares of Murphy Oil by 39.7% in the second quarter. Allworth Financial LP now owns 2,440 shares of the oil and gas producer’s stock worth $55,000 after acquiring an additional 693 shares during the last quarter. Hantz Financial Services Inc. lifted its position in shares of Murphy Oil by 494.0% in the second quarter. Hantz Financial Services Inc. now owns 2,786 shares of the oil and gas producer’s stock valued at $63,000 after acquiring an additional 2,317 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Murphy Oil by 437.8% in the second quarter. EverSource Wealth Advisors LLC now owns 3,802 shares of the oil and gas producer’s stock valued at $86,000 after acquiring an additional 3,095 shares in the last quarter. Finally, Strs Ohio boosted its stake in shares of Murphy Oil by 11.1% during the third quarter. Strs Ohio now owns 5,000 shares of the oil and gas producer’s stock valued at $142,000 after acquiring an additional 500 shares during the last quarter. 78.31% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MUR has been the topic of a number of recent research reports. Weiss Ratings restated a “hold (c)” rating on shares of Murphy Oil in a report on Monday, December 29th. KeyCorp reissued a “sector weight” rating on shares of Murphy Oil in a research report on Thursday, January 29th. Scotiabank reissued a “sector perform” rating and set a $31.00 price objective on shares of Murphy Oil in a research note on Friday, January 16th. UBS Group reaffirmed a “neutral” rating and issued a $30.00 target price on shares of Murphy Oil in a research note on Monday, February 2nd. Finally, Piper Sandler cut their price target on Murphy Oil from $34.00 to $32.00 and set a “neutral” rating for the company in a report on Monday, February 2nd. Thirteen research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Reduce” and an average price target of $29.42.

Murphy Oil Price Performance

Murphy Oil stock opened at $34.06 on Thursday. Murphy Oil Corporation has a 1 year low of $18.94 and a 1 year high of $36.08. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.71 and a current ratio of 0.77. The firm has a 50 day moving average price of $32.21 and a 200 day moving average price of $29.84. The company has a market cap of $4.86 billion, a price-to-earnings ratio of 47.31 and a beta of 0.72.

Murphy Oil (NYSE:MUR) last announced its quarterly earnings results on Wednesday, January 28th. The oil and gas producer reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.21. Murphy Oil had a net margin of 3.83% and a return on equity of 3.73%. The company had revenue of $613.08 million for the quarter, compared to analyst estimates of $650.90 million. During the same quarter last year, the business earned $0.35 EPS. Murphy Oil’s revenue for the quarter was down 6.9% on a year-over-year basis. Sell-side analysts predict that Murphy Oil Corporation will post 2.94 earnings per share for the current year.

Murphy Oil Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Shareholders of record on Tuesday, February 17th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 4.1%. This is a boost from Murphy Oil’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Tuesday, February 17th. Murphy Oil’s dividend payout ratio (DPR) is presently 194.44%.

About Murphy Oil

Murphy Oil Corporation is an independent upstream oil and gas company engaged in the exploration, development and production of crude oil, natural gas and natural gas liquids. The company’s operations encompass conventional onshore and offshore reservoirs, with an emphasis on liquids-rich properties and deepwater assets. Through a combination of proprietary technologies and strategic joint ventures, Murphy Oil seeks to optimize recovery rates and manage its portfolio to balance long-term resource development with operational flexibility.

Murphy Oil’s exploration and production activities are geographically diversified.