Price Capital Management Inc. Takes $1.16 Million Position in Murphy Oil Co. (MUR)
Price Capital Management Inc. purchased a new position in Murphy Oil Co. (NYSE:MUR) during the fourth quarter, HoldingsChannel.com reports. The firm purchased 37,366 shares of the oil and gas producer’s stock, valued at approximately $1,160,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Advisor Group Inc. increased its position in shares of Murphy Oil by 8.0% in the second quarter. Advisor Group Inc. now owns 4,071 shares of the oil and gas producer’s stock worth $105,000 after purchasing an additional 301 shares during the period. Acadian Asset Management LLC bought a new position in shares of Murphy Oil in the fourth quarter worth $197,000. Murphy Pohlad Asset Management LLC bought a new position in shares of Murphy Oil in the third quarter worth $216,000. Gofen & Glossberg LLC IL bought a new position in shares of Murphy Oil in the fourth quarter worth $220,000. Finally, Advisor Partners LLC bought a new position in shares of Murphy Oil in the fourth quarter worth $227,000. Institutional investors own 96.96% of the company’s stock.
Shares of Murphy Oil Co. (NYSE:MUR) opened at $26.69 on Friday. The company has a current ratio of 1.64, a quick ratio of 1.60 and a debt-to-equity ratio of 0.63. Murphy Oil Co. has a twelve month low of $22.21 and a twelve month high of $35.16.
The company also recently declared a quarterly dividend, which will be paid on Monday, March 5th. Stockholders of record on Tuesday, February 20th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.75%. The ex-dividend date is Friday, February 16th. Murphy Oil’s dividend payout ratio (DPR) is currently -55.56%.
A number of research analysts have issued reports on the company. Barclays lifted their target price on Murphy Oil from $29.00 to $34.00 and gave the company an “equal weight” rating in a research report on Friday, February 2nd. ValuEngine cut Murphy Oil from a “hold” rating to a “sell” rating in a research report on Friday, February 2nd. Stephens set a $37.00 target price on Murphy Oil and gave the company a “buy” rating in a research report on Monday, January 22nd. Morgan Stanley lifted their target price on Murphy Oil from $23.00 to $26.00 and gave the company an “underweight” rating in a research report on Wednesday, October 18th. Finally, Cowen set a $34.00 target price on Murphy Oil and gave the company a “hold” rating in a research report on Thursday, January 18th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company. Murphy Oil has an average rating of “Hold” and a consensus target price of $31.83.
In other news, VP John B. Gardner sold 3,783 shares of the business’s stock in a transaction dated 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 legal filing with the SEC, which is available through the SEC website. Also, insider Eugene T. Coleman sold 33,435 shares of the business’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $28.88, for a total value of $965,602.80. Following the sale, the insider now owns 57,246 shares in the company, valued at $1,653,264.48. The disclosure for this sale can be found here. Insiders own 6.89% of the company’s stock.
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About Murphy Oil
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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