Mirae Asset Global Investments Co. Ltd. Acquires 111,566 Shares of Murphy Oil Corporation (NYSE:MUR)

Mirae Asset Global Investments Co. Ltd. increased its holdings in Murphy Oil Corporation (NYSE:MUR - Free Report) by 7,070.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 113,144 shares of the oil and gas producer's stock after buying an additional 111,566 shares during the period. Mirae Asset Global Investments Co. Ltd. owned 0.08% of Murphy Oil worth $3,210,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Cerity Partners LLC raised 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 valued at $304,000 after purchasing an additional 1,503 shares in the last quarter. Foundry Partners LLC raised its position in Murphy Oil by 17.9% during the fourth quarter. Foundry Partners LLC now owns 227,680 shares of the oil and gas producer's stock valued at $6,890,000 after purchasing an additional 34,620 shares in the last quarter. Bank of New York Mellon Corp raised its position in Murphy Oil by 0.7% during the fourth quarter. Bank of New York Mellon Corp now owns 1,857,702 shares of the oil and gas producer's stock valued at $56,214,000 after purchasing an additional 13,263 shares in the last quarter. Oppenheimer Asset Management Inc. raised its position in Murphy Oil by 14.2% during the first quarter. Oppenheimer Asset Management Inc. now owns 214,258 shares of the oil and gas producer's stock valued at $6,085,000 after purchasing an additional 26,563 shares in the last quarter. Finally, Proficio Capital Partners LLC acquired a new position in shares of Murphy Oil during the fourth quarter worth $678,000. 78.31% of the stock is currently owned by institutional investors and hedge funds.

Murphy Oil Trading Down 2.7%

Shares of Murphy Oil stock traded down $0.68 during trading on Friday, hitting $23.94. The company's stock had a trading volume of 844,209 shares, compared to its average volume of 2,359,627. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.76 and a quick ratio of 0.69. Murphy Oil Corporation has a 52 week low of $18.95 and a 52 week high of $43.02. The stock has a market cap of $3.42 billion, a price-to-earnings ratio of 9.21 and a beta of 1.09. The stock has a 50-day moving average price of $22.53 and a two-hundred day moving average price of $25.45.

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

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Piper Sandler lowered their price target on shares of Murphy Oil from $35.00 to $30.00 and set an "overweight" rating for the company in a report on Tuesday, May 13th. Johnson Rice downgraded shares of Murphy Oil from an "accumulate" rating to a "hold" rating in a report on Wednesday, May 21st. JPMorgan Chase & Co. lowered their price target on shares of Murphy Oil from $33.00 to $28.00 and set a "neutral" rating for the company in a report on Thursday, March 13th. Mizuho downgraded shares of Murphy Oil from an "outperform" rating to a "neutral" rating and lowered their price target for the stock from $32.00 to $31.00 in a report on Tuesday, May 13th. Finally, Morgan Stanley lowered their price target on shares of Murphy Oil from $27.00 to $26.00 and set an "underweight" rating for the company in a report on Friday, May 23rd. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Murphy Oil presently has a consensus rating of "Hold" and an average price target of $29.08.

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.