Murphy Oil Co. (NYSE:MUR) Sees Large Growth in Short Interest

by · The Cerbat Gem

Murphy Oil Co. (NYSE:MUR – Get Free Report) was the target of a large growth in short interest in February. As of February 28th, there was short interest totalling 19,530,000 shares, a growth of 19.8% from the February 13th total of 16,300,000 shares. Based on an average trading volume of 2,500,000 shares, the days-to-cover ratio is currently 7.8 days. Currently, 14.2% of the company’s stock are sold short.

Wall Street Analyst Weigh In

A number of equities analysts have commented on MUR shares. JPMorgan Chase & Co. cut their price objective on shares of Murphy Oil from $33.00 to $28.00 and set a “neutral” rating on the stock in a report on Thursday, March 13th. Morgan Stanley reiterated an “underweight” rating and issued a $37.00 price objective on shares of Murphy Oil in a report on Wednesday, January 22nd. Barclays cut their price objective on shares of Murphy Oil from $34.00 to $32.00 and set an “equal weight” rating on the stock in a report on Tuesday. Wells Fargo & Company reiterated an “equal weight” rating on shares of Murphy Oil in a report on Monday, February 3rd. Finally, Roth Capital set a $37.00 price objective on shares of Murphy Oil in a report on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $35.31.

View Our Latest Stock Report on MUR

Murphy Oil Stock Performance

Shares of NYSE:MUR traded down $0.54 during trading on Tuesday, reaching $26.12. 2,152,794 shares of the company’s stock traded hands, compared to its average volume of 1,740,273. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.83 and a quick ratio of 0.77. Murphy Oil has a 12 month low of $22.90 and a 12 month high of $49.14. The company has a 50 day moving average of $28.25 and a 200-day moving average of $31.11. The stock has a market capitalization of $3.81 billion, a P/E ratio of 9.71 and a beta of 2.18.

Murphy Oil (NYSE:MUR – Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The oil and gas producer reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.27). Murphy Oil had a net margin of 13.44% and a return on equity of 7.66%. During the same quarter in the prior year, the company posted $0.90 EPS. On average, equities analysts expect that Murphy Oil will post 2.94 EPS for the current year.

Murphy Oil Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 18th were given a dividend of $0.325 per share. This represents a $1.30 dividend on an annualized basis and a dividend yield of 4.98%. The ex-dividend date was Tuesday, February 18th. This is an increase from Murphy Oil’s previous quarterly dividend of $0.30. Murphy Oil’s dividend payout ratio is currently 48.33%.

Insider Activity at Murphy Oil

In other Murphy Oil news, VP Meenambigai Palanivelu bought 1,573 shares of Murphy Oil stock in a transaction that occurred on Wednesday, February 5th. The shares were acquired at an average price of $26.70 per share, for a total transaction of $41,999.10. Following the acquisition, the vice president now owns 37,065 shares of the company’s stock, valued at $989,635.50. The trade was a 4.43 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Claiborne P. Deming bought 50,000 shares of Murphy Oil stock in a transaction that occurred on Tuesday, February 4th. The shares were acquired at an average price of $26.47 per share, for a total transaction of $1,323,500.00. Following the acquisition, the director now directly owns 931,651 shares in the company, valued at approximately $24,660,801.97. This represents a 5.67 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 5.92% of the company’s stock.

Institutional Investors Weigh In On Murphy Oil

A number of institutional investors have recently modified their holdings of MUR. Huntington National Bank grew its position in Murphy Oil by 342.8% in the 4th quarter. Huntington National Bank now owns 828 shares of the oil and gas producer’s stock worth $25,000 after purchasing an additional 641 shares during the last quarter. GeoWealth Management LLC bought a new position in Murphy Oil in the 4th quarter worth about $39,000. Lindbrook Capital LLC grew its position in Murphy Oil by 60.5% in the 4th quarter. Lindbrook Capital LLC now owns 1,441 shares of the oil and gas producer’s stock worth $44,000 after purchasing an additional 543 shares during the last quarter. Headlands Technologies LLC grew its position in Murphy Oil by 32.9% in the 4th quarter. Headlands Technologies LLC now owns 1,903 shares of the oil and gas producer’s stock worth $58,000 after purchasing an additional 471 shares during the last quarter. Finally, Jones Financial Companies Lllp grew its position in Murphy Oil by 32.9% in the 4th quarter. Jones Financial Companies Lllp now owns 2,284 shares of the oil and gas producer’s stock worth $69,000 after purchasing an additional 565 shares during the last quarter. Institutional investors own 78.31% of the company’s stock.

About Murphy Oil

(Get Free Report)

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.

Featured Stories