California Public Employees Retirement System Purchases 58,298 Shares of Murphy Oil Co. (NYSE:MUR)

California Public Employees Retirement System raised its position in Murphy Oil Co. (NYSE:MURGet Rating) by 46.1% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 184,631 shares of the oil and gas producer’s stock after buying an additional 58,298 shares during the quarter. California Public Employees Retirement System’s holdings in Murphy Oil were worth $5,574,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in MUR. Lazard Asset Management LLC acquired a new stake in Murphy Oil in the second quarter valued at about $25,000. Quent Capital LLC boosted its stake in shares of Murphy Oil by 36.8% in the 1st quarter. Quent Capital LLC now owns 1,127 shares of the oil and gas producer’s stock valued at $46,000 after purchasing an additional 303 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Murphy Oil in the 1st quarter valued at approximately $77,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Murphy Oil by 50.9% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 2,198 shares of the oil and gas producer’s stock valued at $89,000 after purchasing an additional 741 shares during the last quarter. Finally, Canada Pension Plan Investment Board acquired a new position in Murphy Oil during the 1st quarter worth approximately $97,000. 77.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Murphy Oil

In related news, Director T Jay Collins sold 5,000 shares of Murphy Oil stock in a transaction on Tuesday, September 13th. The shares were sold at an average price of $40.32, for a total transaction of $201,600.00. Following the completion of the transaction, the director now owns 10,137 shares of the company’s stock, valued at $408,723.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Murphy Oil news, 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 completion of the sale, the chief financial officer now directly owns 39,894 shares of the company’s stock, valued at $1,957,199.64. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director T Jay Collins sold 5,000 shares of the company’s stock in a transaction dated Tuesday, September 13th. The shares were sold at an average price of $40.32, for a total transaction of $201,600.00. Following the transaction, the director now owns 10,137 shares in the company, valued at approximately $408,723.84. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 285,754 shares of company stock worth $14,117,095. Company insiders own 6.20% of the company’s stock.

Murphy Oil Price Performance

Shares of MUR opened at $47.45 on Friday. The business has a 50-day moving average of $43.92 and a 200-day moving average of $38.50. Murphy Oil Co. has a 1 year low of $23.50 and a 1 year high of $51.28. The company has a market capitalization of $7.38 billion, a price-to-earnings ratio of 7.99 and a beta of 2.47. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.78 and a quick ratio of 0.74.

Murphy Oil Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of analysts have weighed in on MUR shares. Piper Sandler boosted their target price on shares of Murphy Oil from $62.00 to $68.00 and gave the stock an “overweight” rating in a research note on Thursday, November 17th. StockNews.com lowered Murphy Oil from a “buy” rating to a “hold” rating in a research report on Wednesday, October 26th. Wells Fargo & Company increased their target price on Murphy Oil from $45.00 to $48.00 and gave the company an “equal weight” rating in a research report on Friday, November 4th. Truist Financial lifted their price target on Murphy Oil from $61.00 to $73.00 and gave the company a “buy” rating in a research note on Thursday, September 15th. Finally, The Goldman Sachs Group upped their price objective on Murphy Oil from $44.00 to $50.00 and gave the company a “neutral” rating in a research note on Wednesday. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $52.78.

About Murphy Oil

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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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