Allianz Asset Management GmbH Has $14.43 Million Holdings in Murphy Oil Corporation $MUR

Allianz Asset Management GmbH raised its holdings in Murphy Oil Corporation (NYSE:MUR) by 255.3% in the third quarter, Holdings Channel reports. The fund owned 508,012 shares of the oil and gas producer’s stock after acquiring an additional 365,011 shares during the period. Allianz Asset Management GmbH’s holdings in Murphy Oil were worth $14,433,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of MUR. Strs Ohio lifted its holdings in shares of Murphy Oil by 11.1% during the 3rd quarter. Strs Ohio now owns 5,000 shares of the oil and gas producer’s stock valued at $142,000 after purchasing an additional 500 shares in the last quarter. Arizona State Retirement System raised its holdings in Murphy Oil by 1.4% during the 3rd quarter. Arizona State Retirement System now owns 40,119 shares of the oil and gas producer’s stock worth $1,140,000 after buying an additional 551 shares during the period. Franklin Resources Inc. raised its holdings in Murphy Oil by 0.7% during the 2nd quarter. Franklin Resources Inc. now owns 87,933 shares of the oil and gas producer’s stock worth $1,978,000 after buying an additional 581 shares during the period. MAI Capital Management lifted its stake in Murphy Oil by 11.9% in the second quarter. MAI Capital Management now owns 5,723 shares of the oil and gas producer’s stock valued at $129,000 after buying an additional 608 shares in the last quarter. Finally, Allworth Financial LP boosted its holdings in shares of Murphy Oil by 39.7% in the second quarter. Allworth Financial LP now owns 2,440 shares of the oil and gas producer’s stock valued at $55,000 after buying an additional 693 shares during the period. 78.31% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on MUR. The Goldman Sachs Group raised their price objective on shares of Murphy Oil from $23.00 to $26.00 and gave the stock a “neutral” rating in a report on Thursday, January 22nd. Morgan Stanley lowered their target price on Murphy Oil from $27.00 to $25.00 and set an “underweight” rating for the company in a report on Friday, January 23rd. Wells Fargo & Company boosted their price target on Murphy Oil from $28.00 to $32.00 and gave the company an “equal weight” rating in a report on Tuesday, January 27th. Barclays reduced their price objective on Murphy Oil from $31.00 to $29.00 and set an “underweight” rating for the company in a research report on Friday, January 30th. Finally, UBS Group reissued a “neutral” rating and issued a $30.00 target price on shares of Murphy Oil in a research report on Monday, February 2nd. Thirteen research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $29.17.

Murphy Oil Trading Up 5.3%

Shares of NYSE:MUR opened at $32.14 on Friday. The company’s 50-day moving average price is $31.85 and its two-hundred day moving average price is $28.73. Murphy Oil Corporation has a one year low of $18.94 and a one year high of $35.19. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.77 and a quick ratio of 0.87. The stock has a market capitalization of $4.59 billion, a PE ratio of 44.64 and a beta of 0.78.

Murphy Oil (NYSE:MUR) last released its earnings results on Wednesday, January 28th. The oil and gas producer reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.21. Murphy Oil had a return on equity of 3.75% and a net margin of 3.83%.The business had revenue of $613.08 million for the quarter, compared to the consensus estimate of $650.90 million. During the same quarter in the previous year, the business earned $0.35 earnings per share. Murphy Oil’s quarterly revenue was down 6.9% on a year-over-year basis. On average, equities analysts forecast that Murphy Oil Corporation will post 2.94 EPS for the current fiscal year.

Murphy Oil Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Tuesday, February 17th will be given a dividend of $0.35 per share. This is a positive change from Murphy Oil’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $1.40 annualized dividend and a dividend yield of 4.4%. Murphy Oil’s payout ratio is presently 180.56%.

Murphy Oil Company Profile

Murphy Oil Corporation is an independent upstream oil and gas company engaged in the exploration, development and production of crude oil, natural gas and natural gas liquids. The company’s operations encompass conventional onshore and offshore reservoirs, with an emphasis on liquids-rich properties and deepwater assets. Through a combination of proprietary technologies and strategic joint ventures, Murphy Oil seeks to optimize recovery rates and manage its portfolio to balance long-term resource development with operational flexibility.

Murphy Oil’s exploration and production activities are geographically diversified.