Edgestream Partners L.P. Trims Stock Position in Murphy Oil Co. (NYSE:MUR)

Edgestream Partners L.P. cut its holdings in shares of Murphy Oil Co. (NYSE:MURGet Rating) by 38.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 89,660 shares of the oil and gas producer’s stock after selling 55,838 shares during the quarter. Edgestream Partners L.P. owned about 0.06% of Murphy Oil worth $2,707,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Lazard Asset Management LLC purchased a new position in Murphy Oil during the second quarter worth about $25,000. Quent Capital LLC lifted its position in Murphy Oil by 36.8% during the first quarter. Quent Capital LLC now owns 1,127 shares of the oil and gas producer’s stock worth $46,000 after buying an additional 303 shares during the period. Meeder Asset Management Inc. purchased a new position in Murphy Oil during the first quarter worth about $77,000. CoreCap Advisors LLC purchased a new position in Murphy Oil during the second quarter worth about $64,000. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in shares of Murphy Oil by 50.9% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 2,198 shares of the oil and gas producer’s stock worth $89,000 after purchasing an additional 741 shares during the period. 77.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Murphy Oil

In other news, CEO Roger W. Jenkins sold 150,000 shares of the business’s stock in a transaction on Friday, November 11th. The stock was sold at an average price of $50.52, for a total value of $7,578,000.00. Following the sale, the chief executive officer now owns 664,664 shares of the company’s stock, valued at approximately $33,578,825.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Roger W. Jenkins sold 150,000 shares of Murphy Oil stock in a transaction on Friday, November 11th. The stock was sold at an average price of $50.52, for a total transaction of $7,578,000.00. Following the transaction, the chief executive officer now owns 664,664 shares in the company, valued at $33,578,825.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Thomas J. Mireles sold 15,000 shares of Murphy Oil stock in a transaction on Tuesday, November 15th. The shares were sold at an average price of $49.06, for a total value of $735,900.00. Following the transaction, the chief financial officer now owns 39,894 shares in the company, valued at approximately $1,957,199.64. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 285,754 shares of company stock valued at $14,117,095. Corporate insiders own 6.20% of the company’s stock.

Murphy Oil Stock Down 1.2 %

Shares of Murphy Oil stock opened at $47.45 on Thursday. The business’s fifty day moving average price is $43.78 and its two-hundred day moving average price is $38.44. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.78 and a quick ratio of 0.74. The company has a market capitalization of $7.38 billion, a P/E ratio of 7.99 and a beta of 2.47. Murphy Oil Co. has a 1-year low of $23.50 and a 1-year high of $51.28.

Murphy Oil Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Monday, November 14th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date of this dividend is Thursday, November 10th. Murphy Oil’s dividend payout ratio is presently 16.84%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Jefferies Financial Group assumed coverage on Murphy Oil in a report on Wednesday, October 19th. They issued a “hold” rating and a $46.00 price objective on the stock. Mizuho boosted their price objective on Murphy Oil from $51.00 to $53.00 and gave the company a “buy” rating in a research report on Monday, October 24th. Morgan Stanley reduced their price objective on Murphy Oil from $49.00 to $48.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 19th. Piper Sandler boosted their price objective on Murphy Oil from $62.00 to $68.00 and gave the company an “overweight” rating in a research report on Thursday, November 17th. Finally, Truist Financial boosted their price objective on Murphy Oil from $61.00 to $73.00 and gave the company a “buy” rating in a research report on Thursday, September 15th. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $52.78.

Murphy Oil Profile

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Murphy Oil Corporation, together with its subsidiaries, operates as an oil and natural 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.

See Also

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Institutional Ownership by Quarter for Murphy Oil (NYSE:MUR)

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