Norges Bank Acquires New Stake in Murphy Oil Co. (MUR)

Norges Bank purchased a new stake in Murphy Oil Co. (NYSE:MUR) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 2,495,094 shares of the oil and gas producer’s stock, valued at approximately $58,361,000. Norges Bank owned 1.44% of Murphy Oil as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. First Mercantile Trust Co. boosted its stake in shares of Murphy Oil by 109.2% in the 4th quarter. First Mercantile Trust Co. now owns 1,360 shares of the oil and gas producer’s stock valued at $32,000 after purchasing an additional 710 shares in the last quarter. Enlightenment Research LLC purchased a new stake in shares of Murphy Oil in the 4th quarter valued at $61,000. Oregon Public Employees Retirement Fund boosted its stake in shares of Murphy Oil by 2,265.2% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,513,637 shares of the oil and gas producer’s stock valued at $65,000 after purchasing an additional 1,449,640 shares in the last quarter. Murphy Pohlad Asset Management LLC purchased a new stake in shares of Murphy Oil in the 4th quarter valued at $117,000. Finally, Oppenheimer Asset Management Inc. purchased a new stake in shares of Murphy Oil in the 4th quarter valued at $119,000. 87.50% of the stock is currently owned by institutional investors.

NYSE:MUR traded up $0.13 on Wednesday, reaching $28.34. 1,477 shares of the stock traded hands, compared to its average volume of 1,846,758. The firm has a market cap of $4.94 billion, a P/E ratio of 22.39 and a beta of 2.21. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.94 and a current ratio of 1.04. Murphy Oil Co. has a 12 month low of $21.51 and a 12 month high of $36.53.

Murphy Oil (NYSE:MUR) last released its quarterly earnings data on Thursday, January 31st. The oil and gas producer reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.04. The business had revenue of $692.01 million during the quarter, compared to analyst estimates of $668.85 million. Murphy Oil had a net margin of 15.99% and a return on equity of 4.51%. During the same period last year, the business earned $0.08 EPS. On average, equities research analysts predict that Murphy Oil Co. will post 1.05 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 20th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, May 17th. This represents a $1.00 dividend on an annualized basis and a yield of 3.53%. Murphy Oil’s dividend payout ratio is currently 79.37%.

A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Murphy Oil from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a research note on Tuesday. Goldman Sachs Group raised shares of Murphy Oil from a “sell” rating to a “neutral” rating and increased their price target for the company from $29.00 to $31.50 in a research report on Friday, April 12th. Morgan Stanley set a $23.00 price target on shares of Murphy Oil and gave the company a “sell” rating in a research report on Friday, March 22nd. Credit Suisse Group set a $31.00 price target on shares of Murphy Oil and gave the company a “hold” rating in a research report on Thursday, February 14th. Finally, TheStreet raised shares of Murphy Oil from a “c+” rating to a “b” rating in a research report on Friday, February 1st. One analyst has rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company’s stock. Murphy Oil currently has a consensus rating of “Hold” and an average target price of $34.46.

In other Murphy Oil news, VP John B. Gardner sold 8,364 shares of the firm’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $28.94, for a total transaction of $242,054.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 6.46% of the stock is currently owned by company insiders.

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About Murphy Oil

Murphy Oil Corporation operates as an oil and gas exploration and production company in the United States, Canada, Malaysia, 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.

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Institutional Ownership by Quarter for Murphy Oil (NYSE:MUR)

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