Grace & White Inc. NY increased its position in Murphy Oil Co. (NYSE:MUR) by 15.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 440,210 shares of the oil and gas producer’s stock after buying an additional 60,054 shares during the quarter. Murphy Oil comprises approximately 2.3% of Grace & White Inc. NY’s holdings, making the stock its 8th largest position. Grace & White Inc. NY’s holdings in Murphy Oil were worth $9,733,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. United Asset Strategies Inc. lifted its holdings in shares of Murphy Oil by 3.8% in the second quarter. United Asset Strategies Inc. now owns 18,599 shares of the oil and gas producer’s stock valued at $458,000 after buying an additional 675 shares during the period. Robinson Value Management Ltd. purchased a new stake in shares of Murphy Oil during the second quarter valued at $1,788,000. Sawtooth Solutions LLC lifted its holdings in shares of Murphy Oil by 133.1% during the second quarter. Sawtooth Solutions LLC now owns 28,459 shares of the oil and gas producer’s stock valued at $702,000 after purchasing an additional 16,252 shares during the last quarter. State of New Jersey Common Pension Fund D lifted its holdings in shares of Murphy Oil by 12.6% during the second quarter. State of New Jersey Common Pension Fund D now owns 100,000 shares of the oil and gas producer’s stock valued at $2,465,000 after purchasing an additional 11,200 shares during the last quarter. Finally, First Trust Advisors LP lifted its holdings in shares of Murphy Oil by 64.1% during the second quarter. First Trust Advisors LP now owns 471,302 shares of the oil and gas producer’s stock valued at $11,618,000 after purchasing an additional 184,133 shares during the last quarter. Institutional investors and hedge funds own 90.22% of the company’s stock.
Shares of Murphy Oil stock opened at $19.31 on Wednesday. The stock has a 50-day moving average price of $20.76 and a 200 day moving average price of $23.39. The company has a market cap of $3.09 billion, a P/E ratio of 15.33 and a beta of 2.03. The company has a current ratio of 1.25, a quick ratio of 1.21 and a debt-to-equity ratio of 0.91. Murphy Oil Co. has a 1 year low of $17.04 and a 1 year high of $33.29.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 5.18%. The ex-dividend date of this dividend is Friday, November 15th. Murphy Oil’s dividend payout ratio is currently 79.37%.
In related news, Director Walentin Mirosh sold 1,360 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $18.52, for a total value of $25,187.20. Following the completion of the sale, the director now directly owns 25,365 shares of the company’s stock, valued at approximately $469,759.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 6.46% of the stock is currently owned by corporate insiders.
Several equities research analysts have recently commented on MUR shares. Goldman Sachs Group raised Murphy Oil from a “neutral” rating to a “buy” rating and set a $30.00 target price for the company in a report on Tuesday, July 23rd. ValuEngine raised Murphy Oil from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Credit Suisse Group reduced their target price on Murphy Oil from $30.00 to $25.00 and set a “neutral” rating for the company in a report on Friday, August 9th. Capital One Financial started coverage on Murphy Oil in a report on Wednesday, July 10th. They set an “overweight” rating and a $37.00 target price for the company. Finally, BMO Capital Markets started coverage on Murphy Oil in a report on Monday, September 30th. They set an “outperform” rating and a $27.00 target price for the company. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $30.47.
About Murphy Oil
Murphy Oil Corporation operates as an oil and gas exploration and production company in the United States, Canada, Malaysia, 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.
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