Pallas Capital Advisors LLC Purchases Shares of 16,308 Murphy Oil Corporation $MUR

Pallas Capital Advisors LLC purchased a new stake in Murphy Oil Corporation (NYSE:MUR) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 16,308 shares of the oil and gas producer’s stock, valued at approximately $367,000.

Several other hedge funds have also modified their holdings of MUR. Riverview Trust Co purchased a new stake in shares of Murphy Oil during the 1st quarter worth about $26,000. Brooklyn Investment Group grew its stake in shares of Murphy Oil by 3,989.7% in the 1st quarter. Brooklyn Investment Group now owns 1,186 shares of the oil and gas producer’s stock valued at $34,000 after buying an additional 1,157 shares during the period. Byrne Asset Management LLC purchased a new stake in shares of Murphy Oil in the 1st quarter valued at approximately $44,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Murphy Oil by 1,710.9% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,666 shares of the oil and gas producer’s stock worth $47,000 after purchasing an additional 1,574 shares during the period. Finally, MassMutual Private Wealth & Trust FSB boosted its position in shares of Murphy Oil by 177.8% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,725 shares of the oil and gas producer’s stock worth $49,000 after purchasing an additional 1,104 shares during the period. 78.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on the stock. UBS Group raised their price target on shares of Murphy Oil from $23.00 to $24.00 and gave the company a “neutral” rating in a research report on Wednesday, August 13th. Piper Sandler lifted their price target on shares of Murphy Oil from $30.00 to $32.00 and gave the stock an “overweight” rating in a research note on Thursday, August 14th. Barclays lifted their price objective on shares of Murphy Oil from $22.00 to $23.00 and gave the company an “underweight” rating in a research note on Monday, July 7th. Zacks Research downgraded shares of Murphy Oil from a “hold” rating to a “strong sell” rating in a report on Monday, September 15th. Finally, Scotiabank reissued a “sector perform” rating and set a $26.00 price objective (up previously from $22.00) on shares of Murphy Oil in a report on Friday, July 11th. One research analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Murphy Oil has an average rating of “Reduce” and a consensus price target of $29.54.

Murphy Oil Stock Down 1.8%

Shares of NYSE:MUR opened at $26.55 on Monday. The stock has a market capitalization of $3.79 billion, a price-to-earnings ratio of 13.76 and a beta of 1.15. Murphy Oil Corporation has a 1-year low of $18.94 and a 1-year high of $36.63. The company’s fifty day moving average is $24.76 and its two-hundred day moving average is $23.84. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.77 and a current ratio of 0.84.

Murphy Oil (NYSE:MUR) last announced its earnings results on Wednesday, August 6th. The oil and gas producer reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.06. Murphy Oil had a net margin of 10.20% and a return on equity of 5.25%. The firm had revenue of $695.57 million during the quarter, compared to analyst estimates of $632.51 million. During the same quarter in the prior year, the firm posted $0.81 EPS. Murphy Oil’s revenue was down 13.4% compared to the same quarter last year. Equities analysts anticipate that Murphy Oil Corporation will post 2.94 EPS for the current year.

Murphy Oil Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were given a dividend of $0.325 per share. This represents a $1.30 annualized dividend and a yield of 4.9%. The ex-dividend date of this dividend was Monday, August 18th. Murphy Oil’s dividend payout ratio (DPR) is presently 67.36%.

Murphy Oil Company 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.