Seven Eight Capital LP buys 31,944 shares of Murphy Oil Co. (NYSE:MUR)

Seven Eight Capital LP raised its position in Murphy Oil Co. (NYSE:MUR – Free Report) by 392.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 40,075 shares of the oil and gas producer’s stock after buying an additional 31,944 shares during the quarter. Seven Eight Capital LP’s holdings in Murphy Oil were worth $1,653,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have added to or reduced their stakes in MUR. Assenagon Asset Management SA raised its position in Murphy Oil by 90.5% in the 2nd quarter. Assenagon Asset Management SA now owns 1,092,374 shares of the oil and gas producer’s stock, valued at $45,050,000 after acquired another 518,904 shares during the period. Invenomic Capital Management LP bought a new stake in shares of Murphy Oil in the 4th quarter valued at about $16,349,000. Dimensional Fund Advisors LP boosted its stake 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 valued at $340,400,000 after purchasing an additional 262,256 shares during the period. FM Investments LLC purchased a new stake in shares of Murphy Oil in the second quarter valued at about $10,182,000. Finally, Vaughan Nelson Investment Management LP boosted its stake in Murphy Oil by 23.0% in the first quarter. Vaughan Nelson Investment Management LP now owns 1,132,305 shares of the oil and gas producer’s stock worth $51,746,000 after acquiring an additional 212,100 shares during the period. Institutional investors own 78.31% of the company’s shares.

Changes in Analyst Ratings

MUR has been the subject of several analyst reports. Scotiabank lowered shares of Murphy Oil from a “strong-buy” rating to a “hold” rating in a report on Friday, August 9th. StockNews.com downgraded shares of Murphy Oil from a “buy” rating to a “hold” rating in a research note on Tuesday, June 18th. Wolfe Research initiated coverage on shares of Murphy Oil in a research report on Thursday, July 18th. They set a “peer perform” rating for the stock. Piper Sandler cut their price objective on shares of Murphy Oil from $54.00 to $44.00 and set an “overweight” rating for the company in a research report on Thursday, August 15th. Finally, JPMorgan Chase & Co. cut their price target on Murphy Oil from $47.00 to $39.00 and set a “neutral” rating on the stock in a research report on Thursday, September 12th. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $45.00.

Check out the latest Murphy Oil Research Report

Murphy oil price performance

Shares of MUR stock opened at $35.29 on Thursday. The company has a quick ratio of 0.76, a current ratio of 0.82, and a debt-to-equity ratio of 0.23. The company’s fifty day moving average is $37.96 and its 200 day moving average is $41.35. The stock has a market cap of $5.38 billion, a price-to-earnings ratio of 9.83 and a beta of 2.21. Murphy Oil Co. it has a twelve month low of $33.15 and a twelve month high of $49.14.

Murphy Oil (NYSE:MUR – Get Your Free Report ) last posted its earnings results on Thursday, August 8th. The oil and gas producer reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.08. Murphy Oil had a net margin of 17.32% and a return on equity of 11.68%. The firm had revenue of $802.80 million for the quarter, compared to the consensus estimate of $813.97 million. In the same quarter last year, the firm posted earnings of $0.79 per share. The company’s revenue fell 1.4% year-over-year. Research analysts expect that Murphy Oil Co. to post 3.99 EPS for the current fiscal year.

Murphy Oil announces dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 19th were issued a dividend of $0.30 per share. This represents an annualized dividend of $1.20 and a yield of 3.40%. The ex-dividend date of this dividend was Monday, August 19. Murphy Oil’s dividend payout ratio is currently 33.43%.

Murphy Oil Company Profile

(Free report)

Murphy Oil Corporation, together with its subsidiaries, operates as an oil and gas exploration and production company in the United States, Canada and internationally. Explores 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.

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