Reston Wealth Management LLC Makes New $27,000 Investment in Murphy Oil Co. (NYSE:MUR)

Reston Wealth Management LLC bought a new position in Murphy Oil Co. (NYSE:MUR) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 800 shares of the oil and gas producer’s stock, valued at approximately $27,000.

A number of other large investors have also bought and sold shares of the company. US Bancorp DE increased its position in Murphy Oil by 7.8% in the third quarter. US Bancorp DE now owns 55,075 shares of the oil and gas producer’s stock worth $1,858,000 after buying an additional 4,004 shares during the last quarter. Klein Pavlis & Peasley Financial Inc. bought a new position in shares of Murphy Oil in the third quarter worth $796,000. State of Alaska Department of Revenue boosted its holdings in shares of Murphy Oil by 3.9% in the third quarter. State of Alaska Department of Revenue now owns 16,475 shares of the oil and gas producer’s stock worth $555,000 after acquiring an additional 620 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Murphy Oil by 90.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,758 shares of the oil and gas producer’s stock worth $59,000 after acquiring an additional 833 shares during the period. Finally, International Assets Investment Management LLC boosted its holdings in shares of Murphy Oil by 3,191.6% in the third quarter. International Assets Investment Management LLC now owns 1,627,268 shares of the oil and gas producer’s stock worth $54,904,000 after acquiring an additional 1,577,831 shares during the period. 78.31% of the stock is owned by hedge funds and other institutional investors.

Murphy Oil Stock Down 1.1 %

Shares of NYSE:MUR opened at $31.12 on Friday. Murphy Oil Co. has a 1 year low of $30.99 and a 1 year high of $49.14. The company has a market cap of $4.54 billion, a PE ratio of 8.19 and a beta of 2.20. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.82 and a quick ratio of 0.76. The stock’s 50-day moving average is $34.69 and its 200 day moving average is $39.03.

Murphy Oil (NYSE:MUR) last announced its quarterly earnings results on Thursday, August 8th. The oil and gas producer reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.08. Murphy Oil had a return on equity of 11.68% and a net margin of 17.32%. The company had revenue of $802.80 million for the quarter, compared to the consensus estimate of $813.97 million. During the same quarter in the previous year, the business earned $0.79 EPS. Murphy Oil’s revenue was down 1.4% compared to the same quarter last year. Sell-side analysts anticipate that Murphy Oil Co. will post 3.45 EPS for the current year.

Murphy Oil Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be issued a dividend of $0.30 per share. The ex-dividend date is Monday, November 18th. This represents a $1.20 dividend on an annualized basis and a yield of 3.86%. Murphy Oil’s dividend payout ratio is presently 31.58%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on MUR. Wells Fargo & Company cut their price target on Murphy Oil from $41.00 to $39.00 and set an “equal weight” rating for the company in a report on Friday, September 27th. Barclays dropped their price objective on Murphy Oil from $46.00 to $38.00 and set an “equal weight” rating for the company in a research note on Thursday, October 3rd. Piper Sandler dropped their price objective on Murphy Oil from $44.00 to $43.00 and set an “overweight” rating for the company in a research note on Tuesday, October 15th. Truist Financial dropped their price objective on Murphy Oil from $55.00 to $42.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Finally, The Goldman Sachs Group dropped their price objective on Murphy Oil from $44.00 to $39.00 and set a “neutral” rating for the company in a research note on Monday, October 7th. Ten research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $41.17.

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.