Point72 Hong Kong Ltd Sells 1,016 Shares of Murphy Oil Co. (NYSE:MUR)

Point72 Hong Kong Ltd decreased its position in shares of Murphy Oil Co. (NYSE:MUR) by 9.5% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,623 shares of the oil and gas producer’s stock after selling 1,016 shares during the quarter. Point72 Hong Kong Ltd’s holdings in Murphy Oil were worth $397,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in MUR. Lindbrook Capital LLC grew its position in shares of Murphy Oil by 47.7% during the 1st quarter. Lindbrook Capital LLC now owns 721 shares of the oil and gas producer’s stock worth $33,000 after buying an additional 233 shares during the period. Signaturefd LLC grew its position in shares of Murphy Oil by 14.5% during the 2nd quarter. Signaturefd LLC now owns 2,441 shares of the oil and gas producer’s stock worth $101,000 after buying an additional 310 shares during the period. CWM LLC grew its position in shares of Murphy Oil by 14.0% during the 1st quarter. CWM LLC now owns 2,547 shares of the oil and gas producer’s stock worth $116,000 after buying an additional 313 shares during the period. State of Michigan Retirement System grew its position in shares of Murphy Oil by 1.1% during the 1st quarter. State of Michigan Retirement System now owns 35,647 shares of the oil and gas producer’s stock worth $1,629,000 after buying an additional 400 shares during the period. Finally, Benjamin F. Edwards & Company Inc. grew its position in shares of Murphy Oil by 27.0% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 2,105 shares of the oil and gas producer’s stock worth $96,000 after buying an additional 447 shares during the period. Institutional investors own 78.31% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on MUR shares. Scotiabank downgraded shares of Murphy Oil from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 9th. Truist Financial reduced their price target on shares of Murphy Oil from $59.00 to $55.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. Morgan Stanley reduced their price target on shares of Murphy Oil from $43.00 to $39.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. JPMorgan Chase & Co. reduced their price target on shares of Murphy Oil from $47.00 to $39.00 and set a “neutral” rating for the company in a research report on Thursday, September 12th. Finally, Mizuho reduced their price target on shares of Murphy Oil from $59.00 to $50.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. Eight investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Murphy Oil currently has a consensus rating of “Hold” and an average target price of $45.00.

Murphy Oil Price Performance

Shares of NYSE:MUR opened at $32.80 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.76 and a debt-to-equity ratio of 0.23. The stock’s fifty day simple moving average is $37.05 and its two-hundred day simple moving average is $41.09. Murphy Oil Co. has a 1-year low of $32.53 and a 1-year high of $49.14. The stock has a market cap of $5.00 billion, a PE ratio of 9.14 and a beta of 2.21.

Murphy Oil (NYSE:MUR) last released its earnings results on Thursday, August 8th. The oil and gas producer reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.08. The company had revenue of $802.80 million for the quarter, compared to analysts’ expectations of $813.97 million. Murphy Oil had a return on equity of 11.68% and a net margin of 17.32%. The business’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.79 EPS. As a group, analysts forecast that Murphy Oil Co. will post 3.57 EPS for the current fiscal year.

Murphy Oil Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 19th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.66%. The ex-dividend date was Monday, August 19th. Murphy Oil’s payout ratio is 33.43%.

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.