CI Investments Inc. Acquires 50,216 Shares of Murphy Oil Corporation $MUR

Key Points

• CI Investments Inc. boosted its Murphy Oil stake by 160.4% in the first quarter, buying 50,216 additional shares and bringing its total holdings to 81,513 shares worth about $3.36 million.
• Murphy Oil’s latest quarterly results beat expectations, with EPS of $0.32 versus $0.29 expected and revenue of $732.35 million, up 9% from a year earlier.
• Wall Street remains cautious on the stock: analysts’ consensus rating is Hold, with an average price target of $38.33, while shares recently opened at $39.38.

CI Investments Inc. increased its stake in shares of Murphy Oil Corporation (NYSE:MUR - Free Report) by 160.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 81,513 shares of the oil and gas producer's stock after acquiring an additional 50,216 shares during the period. CI Investments Inc. owned about 0.06% of Murphy Oil worth $3,362,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in MUR. SG Americas Securities LLC raised its stake in shares of Murphy Oil by 32.0% during the fourth quarter. SG Americas Securities LLC now owns 122,420 shares of the oil and gas producer's stock valued at $3,826,000 after acquiring an additional 29,689 shares during the last quarter. Pacific Heights Asset Management LLC grew its stake in shares of Murphy Oil by 10.0% in the fourth quarter. Pacific Heights Asset Management LLC now owns 550,000 shares of the oil and gas producer's stock worth $17,188,000 after purchasing an additional 50,000 shares during the last quarter. State of Alaska Department of Revenue grew its stake in shares of Murphy Oil by 138.2% in the fourth quarter. State of Alaska Department of Revenue now owns 34,936 shares of the oil and gas producer's stock worth $1,090,000 after purchasing an additional 20,271 shares during the last quarter. Flax Pond Capital LLC acquired a new stake in Murphy Oil in the fourth quarter valued at $6,967,000. Finally, Y Intercept Hong Kong Ltd bought a new position in Murphy Oil during the 1st quarter worth $1,745,000. 78.31% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Murphy Oil in a report on Wednesday, June 24th. Jefferies Financial Group cut Murphy Oil from a "buy" rating to an "underperform" rating in a research note on Thursday, June 4th. UBS Group lowered their price objective on Murphy Oil from $44.00 to $41.00 and set a "neutral" rating for the company in a research report on Tuesday. Roth Capital reaffirmed a "neutral" rating and issued a $36.00 price objective on shares of Murphy Oil in a research note on Thursday, May 7th. Finally, Barclays upped their target price on Murphy Oil from $36.00 to $43.00 and gave the company an "equal weight" rating in a report on Tuesday, May 26th. Three research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Murphy Oil currently has an average rating of "Hold" and a consensus target price of $38.33.

Murphy Oil Price Performance

MUR stock opened at $39.38 on Friday. The company has a quick ratio of 0.77, a current ratio of 0.83 and a debt-to-equity ratio of 0.30. The firm has a market cap of $5.65 billion, a price-to-earnings ratio of 66.75 and a beta of 0.52. The company's fifty day simple moving average is $36.34 and its 200 day simple moving average is $35.89. Murphy Oil Corporation has a 12-month low of $21.86 and a 12-month high of $43.34.

Murphy Oil (NYSE:MUR - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The oil and gas producer reported $0.32 earnings per share for the quarter, topping analysts' consensus estimates of $0.29 by $0.03. Murphy Oil had a return on equity of 3.09% and a net margin of 3.02%.The firm had revenue of $732.35 million during the quarter, compared to the consensus estimate of $702.96 million. During the same period last year, the business posted $0.56 EPS. The business's revenue was up 9.0% compared to the same quarter last year. On average, analysts expect that Murphy Oil Corporation will post 3.09 earnings per share for the current year.

About Murphy Oil

Murphy Oil Corporation is an independent upstream oil and gas company engaged in the exploration, development and production of crude oil, natural gas and natural gas liquids. The company's operations encompass conventional onshore and offshore reservoirs, with an emphasis on liquids-rich properties and deepwater assets. Through a combination of proprietary technologies and strategic joint ventures, Murphy Oil seeks to optimize recovery rates and manage its portfolio to balance long-term resource development with operational flexibility.

Murphy Oil's exploration and production activities are geographically diversified.

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