Amalgamated Bank Reduces Stock Position in Murphy Oil Co. (NYSE:MUR)

Amalgamated Bank trimmed its stake in shares of Murphy Oil Co. (NYSE:MUR) by 3.1% in the 4th quarter, Holdings Channel reports. The firm owned 84,010 shares of the oil and gas producer’s stock after selling 2,679 shares during the period. Amalgamated Bank’s holdings in Murphy Oil were worth $3,584,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Bruce G. Allen Investments LLC purchased a new position in shares of Murphy Oil in the 4th quarter worth $29,000. Headinvest LLC bought a new position in Murphy Oil in the third quarter valued at about $70,000. GAMMA Investing LLC purchased a new position in Murphy Oil in the fourth quarter worth about $163,000. Trust Point Inc. bought a new stake in shares of Murphy Oil during the 4th quarter valued at about $206,000. Finally, Forum Financial Management LP purchased a new stake in shares of Murphy Oil during the 3rd quarter valued at about $209,000. Hedge funds and other institutional investors own 78.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MUR. Truist Financial boosted their target price on shares of Murphy Oil from $58.00 to $59.00 and gave the company a “buy” rating in a research report on Friday, April 5th. JPMorgan Chase & Co. boosted their price objective on shares of Murphy Oil from $51.00 to $52.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. Scotiabank cut Murphy Oil from a “sector outperform” rating to a “sector perform” rating and raised their target price for the stock from $46.00 to $50.00 in a report on Thursday, April 11th. Piper Sandler boosted their price target on Murphy Oil from $49.00 to $55.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Finally, Barclays started coverage on Murphy Oil in a research note on Wednesday, April 10th. They issued an “equal weight” rating and a $54.00 price objective on the stock. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Murphy Oil currently has an average rating of “Moderate Buy” and an average price target of $50.64.

Murphy Oil Stock Up 0.8 %

NYSE MUR opened at $44.95 on Friday. Murphy Oil Co. has a 12 month low of $32.80 and a 12 month high of $49.14. The stock’s 50 day moving average is $44.88 and its 200 day moving average is $42.60. The company has a current ratio of 0.93, a quick ratio of 0.87 and a debt-to-equity ratio of 0.24. The stock has a market cap of $6.86 billion, a PE ratio of 12.52 and a beta of 2.22.

Murphy Oil (NYSE:MUR) last issued its earnings results on Thursday, May 2nd. The oil and gas producer reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.03. Murphy Oil had a return on equity of 11.75% and a net margin of 16.40%. The firm had revenue of $794.80 million for the quarter, compared to analysts’ expectations of $750.94 million. During the same period in the previous year, the firm posted $1.24 earnings per share. The business’s revenue was down 5.4% compared to the same quarter last year. Research analysts predict that Murphy Oil Co. will post 4.64 EPS for the current fiscal year.

Murphy Oil Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.67%. The ex-dividend date is Friday, May 17th. Murphy Oil’s dividend payout ratio is presently 33.43%.

Insider Activity at Murphy Oil

In other Murphy Oil news, CEO Roger W. Jenkins sold 110,000 shares of Murphy Oil stock in a transaction on Friday, March 1st. The shares were sold at an average price of $40.39, for a total value of $4,442,900.00. Following the completion of the transaction, the chief executive officer now directly owns 1,035,190 shares of the company’s stock, valued at approximately $41,811,324.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, VP Maria A. Martinez sold 10,000 shares of the stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $43.35, for a total value of $433,500.00. Following the sale, the vice president now owns 40,590 shares of the company’s stock, valued at $1,759,576.50. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Roger W. Jenkins sold 110,000 shares of the stock in a transaction dated Friday, March 1st. The stock was 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 disclosure for this sale can be found here. Insiders have sold a total of 156,260 shares of company stock valued at $6,322,644 over the last 90 days. 5.92% of the stock is owned by corporate insiders.

Murphy Oil Profile

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.