M&T Bank Corp Has $1.33 Million Position in Murphy Oil Corporation (NYSE:MUR)

M&T Bank Corp grew its holdings in shares of Murphy Oil Corporation (NYSE:MUR - Free Report) by 578.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 46,652 shares of the oil and gas producer's stock after buying an additional 39,772 shares during the period. M&T Bank Corp's holdings in Murphy Oil were worth $1,325,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in MUR. LSV Asset Management increased its stake in Murphy Oil by 4.3% during the 4th quarter. LSV Asset Management now owns 2,807,277 shares of the oil and gas producer's stock valued at $84,948,000 after buying an additional 114,656 shares during the period. Northern Trust Corp boosted its holdings in shares of Murphy Oil by 5.1% in the fourth quarter. Northern Trust Corp now owns 2,234,585 shares of the oil and gas producer's stock valued at $67,619,000 after acquiring an additional 107,871 shares in the last quarter. Ameriprise Financial Inc. increased its stake in shares of Murphy Oil by 61.9% during the fourth quarter. Ameriprise Financial Inc. now owns 2,147,590 shares of the oil and gas producer's stock valued at $64,986,000 after acquiring an additional 821,427 shares during the period. American Century Companies Inc. raised its holdings in Murphy Oil by 20.4% during the fourth quarter. American Century Companies Inc. now owns 1,674,590 shares of the oil and gas producer's stock worth $50,673,000 after purchasing an additional 283,695 shares in the last quarter. Finally, Cadence Bank lifted its position in Murphy Oil by 0.6% in the fourth quarter. Cadence Bank now owns 1,658,227 shares of the oil and gas producer's stock worth $50,178,000 after purchasing an additional 9,800 shares during the period. 78.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Wells Fargo & Company set a $24.00 price target on Murphy Oil and gave the company an "equal weight" rating in a research report on Thursday, June 26th. Piper Sandler lowered their target price on Murphy Oil from $35.00 to $30.00 and set an "overweight" rating on the stock in a report on Tuesday, May 13th. Barclays boosted their price target on shares of Murphy Oil from $22.00 to $23.00 and gave the stock an "underweight" rating in a research report on Monday, July 7th. Johnson Rice lowered shares of Murphy Oil from an "accumulate" rating to a "hold" rating in a research report on Wednesday, May 21st. 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 research note on Monday, April 7th. 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $29.46.

Murphy Oil Trading Down 0.5%

Shares of NYSE:MUR traded down $0.12 during mid-day trading on Tuesday, hitting $25.83. The stock had a trading volume of 269,592 shares, compared to its average volume of 3,009,642. The company's 50 day moving average is $22.97 and its 200-day moving average is $25.32. Murphy Oil Corporation has a 12-month low of $18.94 and a 12-month high of $43.02. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.69 and a current ratio of 0.76. The company has a market cap of $3.69 billion, a PE ratio of 9.93 and a beta of 1.09.

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, beating analysts' consensus estimates of $0.48 by $0.08. Murphy Oil had a return on equity of 6.81% and a net margin of 13.47%. The company 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 company earned $0.85 earnings per share. The company's revenue for the quarter was down 15.4% on a year-over-year basis. On average, sell-side analysts predict that Murphy Oil Corporation will post 2.94 EPS for the current 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.