Bank of New York Mellon Corp Reduces Stock Holdings in Murphy Oil Corporation (NYSE:MUR)

Bank of New York Mellon Corp reduced its position in Murphy Oil Corporation (NYSE:MUR - Free Report) by 5.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,753,890 shares of the oil and gas producer's stock after selling 103,812 shares during the period. Bank of New York Mellon Corp owned about 1.23% of Murphy Oil worth $49,810,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in MUR. Jones Financial Companies Lllp lifted its stake in shares of 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 valued at $69,000 after purchasing an additional 565 shares during the period. Proficio Capital Partners LLC acquired a new position in shares of Murphy Oil in the 4th quarter valued at $678,000. Raymond James Financial Inc. acquired a new position in shares of Murphy Oil in the 4th quarter valued at $3,846,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Murphy Oil by 2.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 35,926 shares of the oil and gas producer's stock valued at $1,087,000 after purchasing an additional 885 shares during the period. Finally, Independent Advisor Alliance lifted its stake in shares of Murphy Oil by 8.0% in the 4th quarter. Independent Advisor Alliance now owns 12,805 shares of the oil and gas producer's stock valued at $387,000 after purchasing an additional 948 shares during the period. 78.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MUR has been the subject of several analyst reports. UBS Group decreased their target price on shares of Murphy Oil from $28.00 to $23.00 and set a "neutral" rating for the company in a research note on Monday, April 7th. Wells Fargo & Company set a $24.00 price objective on shares of Murphy Oil and gave the stock an "equal weight" rating in a research report on Thursday, June 26th. Roth Capital cut shares of Murphy Oil from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $27.00 to $25.00 in a research report on Thursday, May 15th. Johnson Rice cut shares of Murphy Oil from an "accumulate" rating to a "hold" rating in a research report on Wednesday, May 21st. Finally, Mizuho cut shares of Murphy Oil from an "outperform" rating to a "neutral" rating and reduced their price objective for the stock from $32.00 to $31.00 in a research report on Tuesday, May 13th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $29.46.

Murphy Oil Price Performance

Shares of Murphy Oil stock traded up $0.41 during trading hours on Thursday, reaching $24.73. 2,314,982 shares of the company's stock were exchanged, compared to its average volume of 2,398,977. Murphy Oil Corporation has a 1 year low of $18.95 and a 1 year high of $42.84. The company has a market capitalization of $3.53 billion, a P/E ratio of 9.51 and a beta of 1.09. The business has a fifty day moving average of $23.29 and a two-hundred day moving average of $25.26. The company has a quick ratio of 0.69, a current ratio of 0.76 and a debt-to-equity ratio of 0.28.

Murphy Oil (NYSE:MUR - Get Free Report) last released its earnings results on Wednesday, May 7th. The oil and gas producer reported $0.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.48 by $0.08. Murphy Oil had a net margin of 13.47% and a return on equity of 6.81%. The business had revenue of $665.71 million during the quarter, compared to analyst estimates of $684.89 million. During the same quarter in the prior year, the firm earned $0.85 earnings per share. The company's revenue for the quarter was down 15.4% compared to the same quarter last year. As a group, research analysts predict that Murphy Oil Corporation will post 2.94 earnings per share for the current fiscal year.

Murphy Oil Profile

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.