Sat Sep 28 13:36:40 UTC 2024: ## Thrivent Financial Boosts Stake in Murphy Oil as Hedge Funds Show Interest

**New York, NY – September 28, 2024** – Thrivent Financial for Lutherans significantly increased its holdings in Murphy Oil Co. (NYSE:MUR) during the second quarter, according to a recent filing with the Securities & Exchange Commission. The firm acquired an additional 23,801 shares, boosting its ownership by 21.6% to 134,189 shares, representing approximately 0.09% of the oil and gas producer’s outstanding stock.

This move by Thrivent Financial follows a trend of increased institutional interest in Murphy Oil. Several other hedge funds also adjusted their positions in the company during recent quarters. Lindbrook Capital LLC, Signaturefd LLC, CWM LLC, and State of Michigan Retirement System all increased their stakes in the company, indicating a positive outlook on its future performance.

Murphy Oil’s stock opened at $33.74 on Friday, with a 1-year low of $32.53 and a 1-year high of $49.14. The company’s market cap stands at $5.15 billion, boasting a price-to-earnings ratio of 9.40 and a beta of 2.21.

The company recently declared a quarterly dividend of $0.30 per share, representing an annualized dividend of $1.20 and a yield of 3.56%.

Analysts have mixed opinions on the stock. Barclays downgraded its price target to $46.00 while Mizuho and Piper Sandler also lowered their targets. However, several analysts maintain a “buy” rating on the stock, citing potential for growth in the oil and gas sector.

**Overall, the recent activity by Thrivent Financial and other institutional investors suggests a positive outlook for Murphy Oil. However, the company’s future performance will depend on several factors, including oil prices and global economic conditions.**

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