Assenagon Asset Management S.A. Sells 267,708 Shares of Murphy Oil Co. (NYSE:MUR)

Assenagon Asset Management S.A. lessened its stake in Murphy Oil Co. (NYSE:MURFree Report) by 32.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 569,532 shares of the oil and gas producer’s stock after selling 267,708 shares during the period. Assenagon Asset Management S.A. owned approximately 0.37% of Murphy Oil worth $24,296,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Geode Capital Management LLC boosted its stake in shares of Murphy Oil by 6.2% during the 2nd quarter. Geode Capital Management LLC now owns 2,980,347 shares of the oil and gas producer’s stock worth $114,147,000 after acquiring an additional 173,730 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Murphy Oil by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 16,816,692 shares of the oil and gas producer’s stock worth $762,637,000 after acquiring an additional 137,059 shares during the last quarter. Comerica Bank purchased a new position in shares of Murphy Oil during the 3rd quarter worth $4,937,000. BlackRock Inc. boosted its stake in shares of Murphy Oil by 9.6% during the 2nd quarter. BlackRock Inc. now owns 20,022,597 shares of the oil and gas producer’s stock worth $766,865,000 after acquiring an additional 1,758,945 shares during the last quarter. Finally, Inspire Investing LLC boosted its stake in shares of Murphy Oil by 21.1% during the 3rd quarter. Inspire Investing LLC now owns 31,974 shares of the oil and gas producer’s stock worth $1,450,000 after acquiring an additional 5,574 shares during the last quarter. Institutional investors own 78.31% of the company’s stock.

Insider Buying and Selling

In related news, CEO Roger W. Jenkins sold 110,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $40.39, for a total transaction of $4,442,900.00. Following the completion of the sale, the chief executive officer now directly owns 1,035,190 shares in the company, valued at $41,811,324.10. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Murphy Oil news, CEO Roger W. Jenkins sold 110,000 shares of Murphy Oil stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $40.39, for a total transaction of $4,442,900.00. Following the completion of the sale, the chief executive officer now directly owns 1,035,190 shares in the company, valued at $41,811,324.10. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Louis W. Utsch sold 30,260 shares of Murphy Oil stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $39.94, for a total transaction of $1,208,584.40. Following the sale, the vice president now owns 9,504 shares of the company’s stock, valued at $379,589.76. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 156,260 shares of company stock worth $6,322,644. Insiders own 6.20% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. KeyCorp dropped their price target on shares of Murphy Oil from $53.00 to $50.00 and set an “overweight” rating on the stock in a research note on Thursday, January 11th. UBS Group lowered their target price on shares of Murphy Oil from $45.00 to $43.00 and set a “neutral” rating on the stock in a research note on Monday, January 29th. Truist Financial restated a “buy” rating and set a $57.00 target price on shares of Murphy Oil in a research note on Tuesday, November 28th. Roth Mkm restated a “buy” rating on shares of Murphy Oil in a research note on Wednesday, March 20th. Finally, Mizuho restated a “buy” rating and set a $53.00 target price (up previously from $50.00) on shares of Murphy Oil in a research note on Thursday, March 21st. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $46.90.

Read Our Latest Research Report on Murphy Oil

Murphy Oil Stock Down 1.2 %

MUR stock opened at $44.75 on Wednesday. The firm has a market cap of $6.83 billion, a PE ratio of 10.60 and a beta of 2.20. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.82 and a current ratio of 0.89. The firm’s fifty day moving average is $40.06 and its 200 day moving average is $42.36. Murphy Oil Co. has a one year low of $32.80 and a one year high of $48.47.

Murphy Oil (NYSE:MURGet Free Report) last posted its quarterly earnings results on Thursday, January 25th. The oil and gas producer reported $0.90 earnings per share for the quarter, missing the consensus estimate of $1.00 by ($0.10). Murphy Oil had a return on equity of 13.02% and a net margin of 19.12%. The business had revenue of $844.20 million during the quarter, compared to analysts’ expectations of $852.24 million. During the same period in the prior year, the business posted $1.10 earnings per share. The business’s quarterly revenue was down 13.4% on a year-over-year basis. On average, research analysts forecast that Murphy Oil Co. will post 4.22 EPS for the current year.

Murphy Oil Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 4th. Investors of record on Tuesday, February 20th were given a dividend of $0.30 per share. This is a boost from Murphy Oil’s previous quarterly dividend of $0.28. This represents a $1.20 annualized dividend and a yield of 2.68%. The ex-dividend date of this dividend was Friday, February 16th. Murphy Oil’s dividend payout ratio (DPR) is presently 28.44%.

Murphy Oil Profile

(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.

Further Reading

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

Receive News & Ratings for Murphy Oil Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Murphy Oil and related companies with MarketBeat.com's FREE daily email newsletter.