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Mackenzie Financial Corp Sells 77,239 Shares of Murphy Oil Corporation (NYSE:MUR)

Murphy Oil logo with Energy background

Mackenzie Financial Corp cut its holdings in Murphy Oil Corporation (NYSE:MUR - Free Report) by 20.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 305,403 shares of the oil and gas producer's stock after selling 77,239 shares during the period. Mackenzie Financial Corp owned approximately 0.21% of Murphy Oil worth $8,673,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. LPL Financial LLC lifted its position in shares of Murphy Oil by 15.7% during the 1st quarter. LPL Financial LLC now owns 74,510 shares of the oil and gas producer's stock valued at $2,116,000 after acquiring an additional 10,124 shares during the period. Pacer Advisors Inc. increased its stake in Murphy Oil by 8,530.7% in the first quarter. Pacer Advisors Inc. now owns 1,763,345 shares of the oil and gas producer's stock valued at $50,079,000 after purchasing an additional 1,742,914 shares in the last quarter. Cetera Investment Advisers raised its holdings in shares of Murphy Oil by 46.8% during the first quarter. Cetera Investment Advisers now owns 28,652 shares of the oil and gas producer's stock valued at $814,000 after purchasing an additional 9,134 shares during the period. Avantax Advisory Services Inc. bought a new position in shares of Murphy Oil during the 1st quarter worth about $223,000. Finally, AE Wealth Management LLC bought a new position in shares of Murphy Oil during the 1st quarter worth about $243,000. 78.31% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on MUR shares. Barclays boosted their target price on Murphy Oil from $22.00 to $23.00 and gave the company an "underweight" rating in a research report on Monday, July 7th. Piper Sandler decreased their price objective on Murphy Oil from $35.00 to $30.00 and set an "overweight" rating for the company in a report on Tuesday, May 13th. Wells Fargo & Company set a $24.00 target price on Murphy Oil and gave the stock an "equal weight" rating in a report on Thursday, June 26th. Mizuho downgraded shares of Murphy Oil from an "outperform" rating to a "neutral" rating and reduced their price target for the company from $32.00 to $31.00 in a research report on Tuesday, May 13th. Finally, UBS Group lowered their price objective on shares of Murphy Oil from $28.00 to $23.00 and set a "neutral" rating on the stock in a report on Monday, April 7th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $29.46.

Read Our Latest Report on MUR

Murphy Oil Stock Performance

Shares of MUR stock opened at $24.82 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.76 and a quick ratio of 0.69. The firm has a 50-day moving average of $24.02 and a 200-day moving average of $24.85. Murphy Oil Corporation has a one year low of $18.94 and a one year high of $41.81. The company has a market cap of $3.54 billion, a P/E ratio of 9.55 and a beta of 1.09.

Murphy Oil (NYSE:MUR - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $665.71 million during the quarter, compared to the consensus estimate of $684.89 million. Murphy Oil had a net margin of 13.47% and a return on equity of 6.81%. The firm's quarterly revenue was down 15.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.85 EPS. Equities research analysts forecast that Murphy Oil Corporation will post 2.94 EPS for the current fiscal year.

About Murphy Oil

(Free Report)

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.

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Institutional Ownership by Quarter for Murphy Oil (NYSE:MUR)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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