Principal Financial Group Inc. increased its position in Murphy Oil Corporation (NYSE:MUR) by 171.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,018,113 shares of the oil and gas producer’s stock after purchasing an additional 642,930 shares during the quarter. Principal Financial Group Inc. owned 0.59% of Murphy Oil Corporation worth $27,041,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Laurion Capital Management LP boosted its stake in shares of Murphy Oil Corporation by 2,553.1% in the second quarter. Laurion Capital Management LP now owns 214,900 shares of the oil and gas producer’s stock valued at $5,508,000 after purchasing an additional 206,800 shares during the period. Shell Asset Management Co. boosted its stake in shares of Murphy Oil Corporation by 103.3% in the third quarter. Shell Asset Management Co. now owns 26,101 shares of the oil and gas producer’s stock valued at $1,485,000 after purchasing an additional 13,262 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in shares of Murphy Oil Corporation by 10.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,028,206 shares of the oil and gas producer’s stock valued at $26,353,000 after purchasing an additional 93,234 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Murphy Oil Corporation by 18.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 75,962 shares of the oil and gas producer’s stock valued at $1,947,000 after purchasing an additional 11,755 shares during the period. Finally, LSV Asset Management boosted its stake in shares of Murphy Oil Corporation by 3.8% in the second quarter. LSV Asset Management now owns 1,130,900 shares of the oil and gas producer’s stock valued at $28,984,000 after purchasing an additional 41,663 shares during the period. Institutional investors and hedge funds own 98.36% of the company’s stock.

Murphy Oil Corporation (NYSE:MUR) opened at $27.99 on Monday. Murphy Oil Corporation has a 52 week low of $22.21 and a 52 week high of $35.19. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.74 and a quick ratio of 1.60.

Murphy Oil Corporation (NYSE:MUR) last posted its quarterly earnings results on Wednesday, November 1st. The oil and gas producer reported ($0.03) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.14) by $0.11. Murphy Oil Corporation had a negative net margin of 4.15% and a negative return on equity of 1.25%. The company had revenue of $498.31 million for the quarter, compared to the consensus estimate of $460.17 million. During the same period last year, the firm posted ($0.18) EPS. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. analysts expect that Murphy Oil Corporation will post -0.2 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Monday, November 13th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, November 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.57%. Murphy Oil Corporation’s payout ratio is currently -196.08%.

In other news, Director Robert Madison Murphy sold 6,325 shares of the firm’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $28.55, for a total value of $180,578.75. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last 90 days, insiders bought 76,000 shares of company stock worth $17,750. Insiders own 6.89% of the company’s stock.

Several research analysts have recently weighed in on MUR shares. Morgan Stanley upped their target price on shares of Murphy Oil Corporation from $23.00 to $26.00 and gave the company an “underweight” rating in a research note on Wednesday, October 18th. Zacks Investment Research upgraded shares of Murphy Oil Corporation from a “hold” rating to a “buy” rating and set a $28.00 target price for the company in a research note on Friday, October 27th. Scotiabank set a $27.00 target price on shares of Murphy Oil Corporation and gave the company a “hold” rating in a research note on Friday, August 11th. Piper Jaffray Companies reiterated a “hold” rating and set a $31.00 price objective on shares of Murphy Oil Corporation in a research note on Thursday, August 10th. Finally, ValuEngine downgraded shares of Murphy Oil Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, August 23rd. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $30.27.

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About Murphy Oil Corporation

Murphy Oil Corporation (Murphy) is an oil and gas exploration and production company. The Company’s exploration and production business explores for and produces crude oil, natural gas and natural gas liquids across the world. Its exploration and production activities are subdivided into four geographic segments: the United States, Canada, Malaysia and all other countries.

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

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