Murphy Oil Corporation (NYSE:MUR) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its stake in shares of Murphy Oil Corporation (NYSE:MUR - Free Report) by 5.6% in the first quarter, according to its most recent disclosure with the 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 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MUR. Cerity Partners LLC boosted its position in Murphy Oil by 18.6% during the fourth quarter. Cerity Partners LLC now owns 9,576 shares of the oil and gas producer's stock worth $304,000 after acquiring an additional 1,503 shares during the last quarter. Foundry Partners LLC boosted its holdings in shares of Murphy Oil by 17.9% during the 4th quarter. Foundry Partners LLC now owns 227,680 shares of the oil and gas producer's stock worth $6,890,000 after purchasing an additional 34,620 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Murphy Oil by 146.5% during the 1st quarter. GAMMA Investing LLC now owns 3,106 shares of the oil and gas producer's stock worth $88,000 after purchasing an additional 1,846 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Murphy Oil by 7,070.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 113,144 shares of the oil and gas producer's stock valued at $3,210,000 after purchasing an additional 111,566 shares in the last quarter. Finally, Pacific Heights Asset Management LLC increased its holdings in shares of Murphy Oil by 350.0% in the first quarter. Pacific Heights Asset Management LLC now owns 450,000 shares of the oil and gas producer's stock valued at $12,780,000 after purchasing an additional 350,000 shares during the last quarter. 78.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on MUR. Johnson Rice cut Murphy Oil from an "accumulate" rating to a "hold" rating in a report on Wednesday, May 21st. Mizuho lowered shares of Murphy Oil from an "outperform" rating to a "neutral" rating and dropped their price objective for the company from $32.00 to $31.00 in a report on Tuesday, May 13th. KeyCorp restated a "sector weight" rating on shares of Murphy Oil in a research report on Monday, April 21st. Barclays boosted their target price on shares of Murphy Oil from $22.00 to $23.00 and gave the company an "underweight" rating in a report on Monday, July 7th. Finally, UBS Group cut their price target on shares of Murphy Oil from $28.00 to $23.00 and set a "neutral" rating for the company in a report on Monday, April 7th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $29.46.

Murphy Oil Stock Down 0.5%

NYSE MUR traded down $0.12 on Tuesday, hitting $25.83. 261,147 shares of the stock were exchanged, compared to its average volume of 2,384,687. Murphy Oil Corporation has a fifty-two week low of $18.95 and a fifty-two week high of $43.02. The company has a 50-day moving average price of $22.97 and a 200-day moving average price of $25.32. The company has a quick ratio of 0.69, a current ratio of 0.76 and a debt-to-equity ratio of 0.28. The company has a market cap of $3.69 billion, a PE ratio of 9.91 and a beta of 1.09.

Murphy Oil (NYSE:MUR - Get Free Report) last issued its earnings results on Wednesday, May 7th. The oil and gas producer reported $0.56 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 firm had revenue of $665.71 million during the quarter, compared to the consensus estimate of $684.89 million. During the same quarter in the previous year, the firm posted $0.85 earnings per share. The company's revenue was down 15.4% compared to the same quarter last year. Sell-side analysts anticipate that Murphy Oil Corporation will post 2.94 EPS for the current fiscal year.

About Murphy Oil

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.