M&T Bank Corp Acquires Shares of 7,054 Murphy Oil Co. (NYSE:MUR)

M&T Bank Corp bought a new position in Murphy Oil Co. (NYSE:MUR) in the third quarter, HoldingsChannel.com reports. The fund bought 7,054 shares of the oil and gas producer’s stock, valued at approximately $238,000.

A number of other large investors also recently modified their holdings of the stock. Covestor Ltd raised its position in Murphy Oil by 266.8% in the 3rd quarter. Covestor Ltd now owns 741 shares of the oil and gas producer’s stock worth $25,000 after purchasing an additional 539 shares during the last quarter. Reston Wealth Management LLC bought a new stake in shares of Murphy Oil during the third quarter worth $27,000. Compass Wealth Management LLC acquired a new position in shares of Murphy Oil during the third quarter valued at $42,000. Headlands Technologies LLC boosted its holdings in Murphy Oil by 1,434.5% in the second quarter. Headlands Technologies LLC now owns 1,289 shares of the oil and gas producer’s stock valued at $53,000 after acquiring an additional 1,205 shares during the last quarter. Finally, Bruce G. Allen Investments LLC boosted its stake in shares of Murphy Oil by 106.5% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 1,470 shares of the oil and gas producer’s stock valued at $50,000 after purchasing an additional 758 shares during the last quarter. 78.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

MUR has been the topic of several recent research reports. The Goldman Sachs Group reduced their price target on Murphy Oil from $44.00 to $39.00 and set a “neutral” rating on the stock in a research report on Monday, October 7th. Truist Financial reduced their price objective on shares of Murphy Oil from $55.00 to $42.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Morgan Stanley lowered their target price on shares of Murphy Oil from $43.00 to $39.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th. Barclays reduced their price target on shares of Murphy Oil from $38.00 to $37.00 and set an “equal weight” rating on the stock in a research report on Monday, November 11th. Finally, Wells Fargo & Company lowered their price target on Murphy Oil from $39.00 to $35.00 and set an “equal weight” rating for the company in a report on Monday, December 9th. Ten investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Murphy Oil currently has an average rating of “Hold” and an average target price of $39.58.

Murphy Oil Trading Down 1.3 %

Shares of NYSE:MUR opened at $28.14 on Friday. The company’s 50-day moving average price is $32.10 and its two-hundred day moving average price is $35.99. Murphy Oil Co. has a one year low of $28.09 and a one year high of $49.14. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.71 and a quick ratio of 0.65. The stock has a market capitalization of $4.10 billion, a PE ratio of 9.08 and a beta of 2.18.

Murphy Oil (NYSE:MUR) last released its earnings results on Thursday, November 7th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.02). The company had revenue of $758.33 million for the quarter, compared to the consensus estimate of $759.74 million. Murphy Oil had a return on equity of 9.22% and a net margin of 14.78%. The business’s revenue was down 21.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.59 EPS. On average, equities analysts forecast that Murphy Oil Co. will post 3.15 EPS for the current fiscal year.

Murphy Oil Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 18th were issued a dividend of $0.30 per share. The ex-dividend date was Monday, November 18th. This represents a $1.20 dividend on an annualized basis and a yield of 4.26%. Murphy Oil’s payout ratio is 38.71%.

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.