State of New Jersey Common Pension Fund D Boosts Stock Holdings in Murphy Oil Co. (NYSE:MUR)

State of New Jersey Common Pension Fund D lifted its holdings in Murphy Oil Co. (NYSE:MUR) by 15.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 51,295 shares of the oil and gas producer’s stock after acquiring an additional 6,812 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Murphy Oil were worth $1,731,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MUR. Covestor Ltd grew its stake in Murphy Oil by 266.8% in the third quarter. Covestor Ltd now owns 741 shares of the oil and gas producer’s stock valued at $25,000 after purchasing an additional 539 shares during the last quarter. Mather Group LLC. grew its position in shares of Murphy Oil by 1,015.7% in the 2nd quarter. Mather Group LLC. now owns 569 shares of the oil and gas producer’s stock worth $26,000 after buying an additional 518 shares during the last quarter. Reston Wealth Management LLC bought a new position in shares of Murphy Oil during the 3rd quarter worth approximately $27,000. Compass Wealth Management LLC purchased a new stake in Murphy Oil during the third quarter valued at approximately $42,000. Finally, Bruce G. Allen Investments LLC boosted its stake in Murphy Oil by 106.5% in the third quarter. Bruce G. Allen Investments LLC now owns 1,470 shares of the oil and gas producer’s stock valued at $50,000 after acquiring an additional 758 shares in the last quarter. 78.31% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on the company. UBS Group decreased their price objective on Murphy Oil from $39.00 to $38.00 and set a “neutral” rating for the company in a report on Monday. Wells Fargo & Company decreased their price target on Murphy Oil from $41.00 to $39.00 and set an “equal weight” rating for the company in a research note on Friday, September 27th. The Goldman Sachs Group cut their price objective on shares of Murphy Oil from $44.00 to $39.00 and set a “neutral” rating on the stock in a report on Monday, October 7th. Truist Financial lowered their target price on shares of Murphy Oil from $55.00 to $42.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Finally, Piper Sandler dropped their target price on shares of Murphy Oil from $43.00 to $42.00 and set an “overweight” rating on the stock in a research report on Monday. Ten research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Murphy Oil currently has an average rating of “Hold” and a consensus target price of $40.92.

Murphy Oil Trading Up 2.5 %

NYSE MUR opened at $33.00 on Tuesday. The company has a fifty day moving average of $33.71 and a 200 day moving average of $37.82. The company has a market capitalization of $4.81 billion, a PE ratio of 10.65 and a beta of 2.21. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.71 and a quick ratio of 0.65. Murphy Oil Co. has a 1 year low of $30.99 and a 1 year high of $49.14.

Murphy Oil (NYSE:MUR) last issued its earnings results on Thursday, November 7th. The oil and gas producer reported $0.74 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.02). The company had revenue of $758.33 million during the quarter, compared to analysts’ expectations of $759.74 million. Murphy Oil had a return on equity of 9.22% and a net margin of 14.78%. The firm’s quarterly revenue was down 21.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.59 EPS. Research analysts forecast that Murphy Oil Co. will post 3.3 earnings per share for the current year.

Murphy Oil Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.64%. The ex-dividend date is Monday, November 18th. Murphy Oil’s dividend payout ratio (DPR) is 38.71%.

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.