Institutional investors increase stakes in Murphy Oil, which still pays dividends despite financial misses.
Hotchkis & Wiley and other institutional investors have increased their stakes in Murphy Oil, now owning 78.31% of the company's stock. Despite missing earnings and revenue estimates, Murphy Oil reported a net margin of 14.78% and a return on equity of 9.22%, and recently announced a quarterly dividend of $0.30 per share. Meanwhile, Murphy USA, a convenience store operator, saw institutional investors buy shares, and it beat earnings estimates with $7.20 EPS for the quarter, declaring a quarterly dividend of $0.48 per share.
4 months ago
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