Harbor Capital Advisors Inc. Purchases 14,024 Shares of Murphy Oil Co. (NYSE:MUR)

Harbor Capital Advisors Inc. boosted its position in Murphy Oil Co. (NYSE:MUR) by 132.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,619 shares of the oil and gas producer’s stock after purchasing an additional 14,024 shares during the period. Harbor Capital Advisors Inc.’s holdings in Murphy Oil were worth $831,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the stock. Signaturefd LLC increased its position in shares of Murphy Oil by 14.5% during the second quarter. Signaturefd LLC now owns 2,441 shares of the oil and gas producer’s stock worth $101,000 after acquiring an additional 310 shares during the period. Northwestern Mutual Wealth Management Co. increased its position in shares of Murphy Oil by 16.2% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,140 shares of the oil and gas producer’s stock worth $129,000 after acquiring an additional 438 shares during the period. Clear Creek Financial Management LLC increased its position in shares of Murphy Oil by 8.1% during the third quarter. Clear Creek Financial Management LLC now owns 6,574 shares of the oil and gas producer’s stock worth $222,000 after acquiring an additional 494 shares during the period. Mather Group LLC. increased its position in shares of Murphy Oil by 1,015.7% during the second quarter. Mather Group LLC. now owns 569 shares of the oil and gas producer’s stock worth $26,000 after acquiring an additional 518 shares during the period. Finally, International Assets Investment Management LLC increased its position in shares of Murphy Oil by 1.1% during the second quarter. International Assets Investment Management LLC now owns 49,437 shares of the oil and gas producer’s stock worth $2,039,000 after acquiring an additional 537 shares during the period. 78.31% of the stock is owned by hedge funds and other institutional investors.

Murphy Oil Trading Up 4.9 %

NYSE:MUR opened at $32.82 on Thursday. Murphy Oil Co. has a 12 month low of $30.99 and a 12 month high of $49.14. The firm has a fifty day simple moving average of $34.19 and a 200-day simple moving average of $38.59. The company has a current ratio of 0.82, a quick ratio of 0.76 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $4.79 billion, a P/E ratio of 8.64 and a beta of 2.21.

Murphy Oil (NYSE:MUR) last posted its quarterly earnings data on Thursday, August 8th. The oil and gas producer reported $0.81 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 business had revenue of $802.80 million during the quarter, compared to the consensus estimate of $813.97 million. During the same period in the previous year, the firm posted $0.79 earnings per share. The business’s revenue for the quarter was down 1.4% compared to the same quarter last year. On average, equities research analysts anticipate that Murphy Oil Co. will post 3.45 earnings per share for the current year.

Murphy Oil Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be paid a dividend of $0.30 per share. The ex-dividend date is Monday, November 18th. This represents a $1.20 annualized dividend and a dividend yield of 3.66%. Murphy Oil’s payout ratio is currently 31.58%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on MUR. Truist Financial reduced their target price on shares of Murphy Oil from $55.00 to $42.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. JPMorgan Chase & Co. cut their price objective on shares of Murphy Oil from $47.00 to $39.00 and set a “neutral” rating on the stock in a report on Thursday, September 12th. KeyCorp cut their price objective on shares of Murphy Oil from $54.00 to $50.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Wells Fargo & Company cut their price objective on shares of Murphy Oil from $41.00 to $39.00 and set an “equal weight” rating on the stock in a report on Friday, September 27th. Finally, Scotiabank cut their price objective on shares of Murphy Oil from $47.00 to $36.00 and set a “sector perform” rating on the stock in a report on Thursday, October 10th. Ten investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $41.17.

About Murphy Oil

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