Wedge Capital Management L L P NC Sells 27,481 Shares of Murphy Oil Corporation $MUR

Wedge Capital Management L L P NC decreased its stake in Murphy Oil Corporation (NYSE:MUR) by 6.4% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 400,193 shares of the oil and gas producer’s stock after selling 27,481 shares during the quarter. Wedge Capital Management L L P NC owned about 0.28% of Murphy Oil worth $13,030,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. CIBC Private Wealth Group LLC purchased a new stake in Murphy Oil during the 4th quarter valued at $26,000. Leonteq Securities AG purchased a new position in Murphy Oil during the first quarter worth $29,000. Valued Wealth Advisors LLC boosted its stake in Murphy Oil by 14,700.0% during the first quarter. Valued Wealth Advisors LLC now owns 740 shares of the oil and gas producer’s stock worth $31,000 after buying an additional 735 shares during the period. Torren Management LLC bought a new position in Murphy Oil during the fourth quarter valued at $37,000. Finally, Farther Finance Advisors LLC increased its position in Murphy Oil by 72.9% during the fourth quarter. Farther Finance Advisors LLC now owns 1,701 shares of the oil and gas producer’s stock valued at $53,000 after acquiring an additional 717 shares during the last quarter. Institutional investors own 78.31% of the company’s stock.

Murphy Oil Stock Down 1.4%

Shares of MUR opened at $35.22 on Thursday. The firm has a fifty day moving average price of $35.99 and a 200-day moving average price of $36.34. The company has a current ratio of 0.85, a quick ratio of 0.80 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $5.05 billion, a P/E ratio of 17.44 and a beta of 0.50. Murphy Oil Corporation has a 12-month low of $21.86 and a 12-month high of $43.34.

Murphy Oil (NYSE:MUR) last posted its quarterly earnings results on Wednesday, August 5th. The oil and gas producer reported $1.55 EPS for the quarter, missing the consensus estimate of $1.57 by ($0.02). Murphy Oil had a return on equity of 6.63% and a net margin of 9.74%.The company had revenue of $926.33 million during the quarter, compared to analysts’ expectations of $888.51 million. During the same period in the prior year, the business earned $0.27 EPS. The company’s quarterly revenue was up 33.5% on a year-over-year basis. Equities research analysts expect that Murphy Oil Corporation will post 2.93 earnings per share for the current year.

Murphy Oil Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, August 17th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.0%. Murphy Oil’s dividend payout ratio (DPR) is 69.31%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on MUR shares. Jefferies Financial Group lowered shares of Murphy Oil from a “buy” rating to an “underperform” rating in a report on Thursday, June 4th. Wall Street Zen downgraded shares of Murphy Oil from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. UBS Group reduced their price objective on shares of Murphy Oil from $41.00 to $38.00 and set a “neutral” rating on the stock in a research report on Friday, August 7th. Mizuho raised shares of Murphy Oil to a “hold” rating in a research note on Friday, July 31st. Finally, KeyCorp upgraded Murphy Oil from a “sector weight” rating to an “overweight” rating and set a $48.00 target price for the company in a research report on Thursday, June 4th. Four analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Murphy Oil currently has a consensus rating of “Hold” and an average target price of $38.25.

Murphy Oil Company Profile

Murphy Oil Corporation is an independent upstream oil and gas company engaged in the exploration, development and production of crude oil, natural gas and natural gas liquids. The company’s operations encompass conventional onshore and offshore reservoirs, with an emphasis on liquids-rich properties and deepwater assets. Through a combination of proprietary technologies and strategic joint ventures, Murphy Oil seeks to optimize recovery rates and manage its portfolio to balance long-term resource development with operational flexibility.

Murphy Oil’s exploration and production activities are geographically diversified.