State Board of Administration of Florida Retirement System Sells 155,284 Shares of Murphy Oil Co. (NYSE:MUR)

State Board of Administration of Florida Retirement System lowered its position in Murphy Oil Co. (NYSE:MUR) by 66.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 79,718 shares of the oil and gas producer’s stock after selling 155,284 shares during the period. State Board of Administration of Florida Retirement System owned about 0.05% of Murphy Oil worth $1,856,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Citigroup Inc. increased its position in shares of Murphy Oil by 17.0% in the 2nd quarter. Citigroup Inc. now owns 263,640 shares of the oil and gas producer’s stock valued at $6,138,000 after buying an additional 38,339 shares in the last quarter. Rafferty Asset Management LLC bought a new position in Murphy Oil during the 2nd quarter worth about $7,585,000. Affinity Wealth Management LLC bought a new position in Murphy Oil during the 2nd quarter worth about $344,000. Meeder Asset Management Inc. increased its holdings in Murphy Oil by 37.2% during the 2nd quarter. Meeder Asset Management Inc. now owns 1,830 shares of the oil and gas producer’s stock worth $43,000 after purchasing an additional 496 shares in the last quarter. Finally, Ameritas Investment Partners Inc. increased its holdings in Murphy Oil by 28.8% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 51,396 shares of the oil and gas producer’s stock worth $1,196,000 after purchasing an additional 11,492 shares in the last quarter. Institutional investors and hedge funds own 79.01% of the company’s stock.

Shares of NYSE:MUR opened at $22.31 on Friday. Murphy Oil Co. has a 52-week low of $7.00 and a 52-week high of $25.97. The company has a market capitalization of $3.45 billion, a P/E ratio of -4.48 and a beta of 3.22. The company has a 50-day simple moving average of $21.06 and a 200 day simple moving average of $20.50. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.68 and a current ratio of 0.72.

Murphy Oil (NYSE:MUR) last issued its earnings results on Thursday, August 5th. The oil and gas producer reported $0.59 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.33. Murphy Oil had a negative net margin of 45.55% and a positive return on equity of 1.50%. The business had revenue of $549.60 million during the quarter, compared to the consensus estimate of $597.00 million. During the same period last year, the business posted ($0.71) EPS. Murphy Oil’s revenue was up 159.9% on a year-over-year basis. As a group, equities analysts forecast that Murphy Oil Co. will post 1.32 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 1st. Shareholders of record on Monday, August 16th were given a dividend of $0.125 per share. The ex-dividend date was Friday, August 13th. This represents a $0.50 annualized dividend and a yield of 2.24%. Murphy Oil’s dividend payout ratio (DPR) is presently -40.00%.

A number of research firms have issued reports on MUR. Truist Securities increased their target price on Murphy Oil from $24.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, July 1st. Morgan Stanley increased their target price on Murphy Oil from $21.00 to $28.00 and gave the stock an “equal weight” rating in a report on Friday, June 18th. TheStreet upgraded Murphy Oil from a “d+” rating to a “c-” rating in a report on Monday, August 16th. Truist increased their price objective on shares of Murphy Oil from $24.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, July 1st. They noted that the move was a valuation call. Finally, Mizuho increased their price objective on shares of Murphy Oil from $24.00 to $28.00 and gave the stock a “neutral” rating in a research note on Thursday, July 15th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $23.88.

About Murphy Oil

Murphy Oil Corp. is a holding company, which engages in the exploration and production of oil and natural gas. It operates through the Exploration and Production and Corporate and Other segment. The Exploration and Production segment includes the United States, Canada, and all other countries. The Corporate and Other segment focuses on interest income, other gains and losses, interest expense, and unallocated overhead.

Read More: Hold Rating

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

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