NorthCoast Asset Management LLC Sells 2,826 Shares of Murphy Oil Corporation (MUR)
NorthCoast Asset Management LLC lowered its stake in Murphy Oil Corporation (NYSE:MUR) by 4.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 58,575 shares of the oil and gas producer’s stock after selling 2,826 shares during the period. NorthCoast Asset Management LLC’s holdings in Murphy Oil Corporation were worth $1,556,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in MUR. Advisor Group Inc. boosted its stake in shares of Murphy Oil Corporation by 8.0% in the second quarter. Advisor Group Inc. now owns 4,071 shares of the oil and gas producer’s stock valued at $105,000 after buying an additional 301 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in shares of Murphy Oil Corporation by 24.6% in the second quarter. Daiwa Securities Group Inc. now owns 4,860 shares of the oil and gas producer’s stock valued at $125,000 after buying an additional 960 shares in the last quarter. ING Groep NV boosted its stake in shares of Murphy Oil Corporation by 0.5% in the second quarter. ING Groep NV now owns 8,313 shares of the oil and gas producer’s stock valued at $213,000 after buying an additional 39 shares in the last quarter. Murphy Pohlad Asset Management LLC purchased a new stake in shares of Murphy Oil Corporation in the third quarter valued at approximately $216,000. Finally, Advisor Partners LLC boosted its stake in shares of Murphy Oil Corporation by 6.9% in the second quarter. Advisor Partners LLC now owns 9,081 shares of the oil and gas producer’s stock valued at $233,000 after buying an additional 590 shares in the last quarter. 98.36% of the stock is currently owned by institutional investors and hedge funds.
Murphy Oil Corporation (NYSE:MUR) traded up $0.47 on Friday, reaching $28.67. The company’s stock had a trading volume of 1,068,890 shares, compared to its average volume of 2,320,157. The company has a current ratio of 1.74, a quick ratio of 1.60 and a debt-to-equity ratio of 0.58. Murphy Oil Corporation has a one year low of $22.21 and a one year high of $35.19.
Murphy Oil Corporation (NYSE:MUR) last posted its earnings results on Wednesday, November 1st. The oil and gas producer reported ($0.03) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.14) by $0.11. The company had revenue of $498.31 million for the quarter, compared to the consensus estimate of $460.17 million. Murphy Oil Corporation had a negative return on equity of 1.25% and a negative net margin of 4.15%. Murphy Oil Corporation’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.18) earnings per share. equities analysts anticipate that Murphy Oil Corporation will post -0.2 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Monday, November 13th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, November 10th. This represents a $1.00 dividend on an annualized basis and a yield of 3.49%. Murphy Oil Corporation’s payout ratio is -196.08%.
A number of analysts recently weighed in on MUR shares. Piper Jaffray Companies set a $23.00 price target on Murphy Oil Corporation and gave the company a “hold” rating in a research note on Friday, August 25th. Cowen Inc restated a “hold” rating and issued a $30.00 price target on shares of Murphy Oil Corporation in a research note on Sunday, September 17th. Zacks Investment Research downgraded Murphy Oil Corporation from a “buy” rating to a “hold” rating in a research note on Monday, October 30th. Morgan Stanley lifted their price target on Murphy Oil Corporation from $23.00 to $26.00 and gave the company an “underweight” rating in a research note on Wednesday, October 18th. Finally, ValuEngine downgraded Murphy Oil Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, August 23rd. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the stock. Murphy Oil Corporation currently has a consensus rating of “Hold” and an average target price of $30.27.
In other Murphy Oil Corporation news, VP John B. Gardner sold 3,783 shares of the business’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $27.84, for a total transaction of $105,318.72. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Robert Madison Murphy sold 6,325 shares of the business’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $28.55, for a total value of $180,578.75. The disclosure for this sale can be found here. Over the last quarter, insiders have acquired 76,000 shares of company stock worth $17,750. 6.89% of the stock is owned by company insiders.
About Murphy Oil Corporation
Murphy Oil Corporation (Murphy) is an oil and gas exploration and production company. The Company’s exploration and production business explores for and produces crude oil, natural gas and natural gas liquids across the world. Its exploration and production activities are subdivided into four geographic segments: the United States, Canada, Malaysia and all other countries.
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