Murphy Oil Corporation $MUR Position Trimmed by JPMorgan Chase & Co.

JPMorgan Chase & Co. reduced its holdings in Murphy Oil Corporation by 26.2% in Q2, now owning 825,128 shares worth $18.57 million. Other institutional investors adjusted their positions, with 78.31% of Murphy Oil's stock held by institutions. Murphy Oil's stock is trading at $32.74, with a market cap of $4.67 billion. Analysts have mixed ratings, with a consensus "Reduce" rating and an average target price of $28.50. Murphy Oil announced a quarterly dividend of $0.325 per share, yielding 4.0%.

JPMorgan Chase & Co. decreased its holdings in Murphy Oil Corporation (NYSE:MUR - Free Report) by 26.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 825,128 shares of the oil and gas producer's stock after selling 292,410 shares during the period. JPMorgan Chase & Co. owned about 0.58% of Murphy Oil worth $18,565,000 as of its most recent SEC filing.

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Other institutional investors have also made changes to their positions in the company. Avantax Advisory Services Inc. acquired a new position in Murphy Oil in the 1st quarter valued at approximately $223,000. Cetera Investment Advisers grew its holdings in shares of Murphy Oil by 46.8% during the 1st quarter. Cetera Investment Advisers now owns 28,652 shares of the oil and gas producer's stock valued at $814,000 after acquiring an additional 9,134 shares in the last quarter. LPL Financial LLC increased its stake in shares of Murphy Oil by 15.7% in the first quarter. LPL Financial LLC now owns 74,510 shares of the oil and gas producer's stock worth $2,116,000 after acquiring an additional 10,124 shares during the last quarter. US Bancorp DE raised its holdings in shares of Murphy Oil by 33.2% during the first quarter. US Bancorp DE now owns 73,640 shares of the oil and gas producer's stock worth $2,091,000 after acquiring an additional 18,346 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Murphy Oil by 210.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 5,610,766 shares of the oil and gas producer's stock valued at $159,346,000 after purchasing an additional 3,805,565 shares during the last quarter. 78.31% of the stock is currently owned by institutional investors and hedge funds.

Murphy Oil Trading Up 0.7%

NYSE:MUR opened at $32.74 on Friday. The company's 50 day moving average is $29.40 and its 200-day moving average is $26.10. The company has a quick ratio of 0.87, a current ratio of 0.94 and a debt-to-equity ratio of 0.27. Murphy Oil Corporation has a 12 month low of $18.94 and a 12 month high of $34.52. The firm has a market cap of $4.67 billion, a price-to-earnings ratio of 33.41 and a beta of 0.81.

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Murphy Oil (NYSE:MUR - Get Free Report) last released its earnings results on Monday, March 21st. The oil and gas producer reported ($0.09) earnings per share for the quarter. The firm had revenue of $440.08 million for the quarter. Murphy Oil had a return on equity of 4.30% and a net margin of 5.16%. Equities analysts anticipate that Murphy Oil Corporation will post 2.94 EPS for the current year.

Murphy Oil Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Monday, November 17th were paid a dividend of $0.325 per share. The ex-dividend date was Monday, November 17th. This represents a $1.30 annualized dividend and a yield of 4.0%. Murphy Oil's dividend payout ratio is presently 132.65%.

Wall Street Analysts Forecast Growth

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Several brokerages have weighed in on MUR. UBS Group upped their target price on Murphy Oil from $24.00 to $27.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 14th. Piper Sandler restated a "neutral" rating and issued a $34.00 price objective on shares of Murphy Oil in a report on Tuesday, November 18th. Wall Street Zen cut shares of Murphy Oil from a "hold" rating to a "sell" rating in a research note on Saturday, November 22nd. Mizuho boosted their target price on shares of Murphy Oil from $29.00 to $30.00 and gave the stock a "neutral" rating in a research report on Thursday, November 6th. Finally, Evercore ISI dropped their price target on shares of Murphy Oil from $23.00 to $22.00 and set an "in-line" rating on the stock in a research note on Monday, October 6th. Thirteen research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, Murphy Oil presently has a consensus rating of "Reduce" and an average target price of $28.50.

Check Out Our Latest Stock Report on MUR

About Murphy Oil

(Free Report)

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.

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