Energy-focused hedge fund Encompass Capital Advisors has established a new position in Murphy Oil Corp. The firm acquired 2.25 million shares valued at approximately $73.26 million, giving it a 2.61% weight in its reported portfolio. Encompass is known for its fundamental long/short equity strategies focusing on the energy sector.
This investment was disclosed in a quarterly 13F filing, reflecting a position held as of June 30, 2026. The move coincided with a strong second quarter for Murphy Oil, which saw its net income surge to $232 million, up from $22 million a year prior, primarily due to higher commodity prices. During that period, Murphy also announced a significant oil discovery offshore in Côte d'Ivoire and raised its capital expenditure guidance for the year.