Kingsview Wealth Management LLC Purchases New Stake in Murphy Oil Corporation $MUR

Kingsview Wealth Management LLC purchased a new stake in shares of Murphy Oil Corporation (NYSE:MUR) during the third quarter, HoldingsChannel reports. The institutional investor purchased 118,676 shares of the oil and gas producer’s stock, valued at approximately $3,372,000.

Several other large investors also recently made changes to their positions in the business. Smartleaf Asset Management LLC raised its stake in shares of Murphy Oil by 67.3% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,094 shares of the oil and gas producer’s stock valued at $32,000 after acquiring an additional 440 shares during the period. Allworth Financial LP increased its holdings in Murphy Oil by 39.7% in the 2nd quarter. Allworth Financial LP now owns 2,440 shares of the oil and gas producer’s stock valued at $55,000 after purchasing an additional 693 shares in the last quarter. Hantz Financial Services Inc. raised its position in Murphy Oil by 494.0% in the second quarter. Hantz Financial Services Inc. now owns 2,786 shares of the oil and gas producer’s stock valued at $63,000 after purchasing an additional 2,317 shares during the period. EverSource Wealth Advisors LLC raised its position in Murphy Oil by 437.8% in the second quarter. EverSource Wealth Advisors LLC now owns 3,802 shares of the oil and gas producer’s stock valued at $86,000 after purchasing an additional 3,095 shares during the period. Finally, MAI Capital Management lifted its stake in shares of Murphy Oil by 11.9% during the second quarter. MAI Capital Management now owns 5,723 shares of the oil and gas producer’s stock worth $129,000 after purchasing an additional 608 shares in the last quarter. Institutional investors and hedge funds own 78.31% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on MUR shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Murphy Oil in a research report on Monday, December 29th. Wells Fargo & Company upped their price target on Murphy Oil from $28.00 to $32.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 27th. Wall Street Zen downgraded shares of Murphy Oil from a “hold” rating to a “sell” rating in a research report on Saturday, February 28th. Scotiabank reissued a “sector perform” rating and set a $31.00 target price on shares of Murphy Oil in a research report on Friday, January 16th. Finally, UBS Group restated a “neutral” rating and issued a $30.00 target price on shares of Murphy Oil in a research note on Monday, February 2nd. Thirteen equities research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, Murphy Oil has an average rating of “Reduce” and an average price target of $29.42.

Murphy Oil Stock Performance

Shares of MUR opened at $34.06 on Thursday. The business’s 50 day moving average is $32.21 and its two-hundred day moving average is $29.84. Murphy Oil Corporation has a 52-week low of $18.94 and a 52-week high of $36.08. The firm has a market cap of $4.86 billion, a price-to-earnings ratio of 47.31 and a beta of 0.72. The company has a quick ratio of 0.71, a current ratio of 0.77 and a debt-to-equity ratio of 0.26.

Murphy Oil (NYSE:MUR) last released its quarterly earnings results on Wednesday, January 28th. The oil and gas producer reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.21. The business had revenue of $613.08 million during the quarter, compared to the consensus estimate of $650.90 million. Murphy Oil had a net margin of 3.83% and a return on equity of 3.73%. The business’s quarterly revenue was down 6.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.35 earnings per share. Analysts forecast that Murphy Oil Corporation will post 2.94 EPS for the current fiscal year.

Murphy Oil Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Tuesday, February 17th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend was Tuesday, February 17th. This is an increase from Murphy Oil’s previous quarterly dividend of $0.33. Murphy Oil’s payout ratio is presently 194.44%.

Murphy Oil 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.