M&T Bank Corp Buys 39,772 Shares of Murphy Oil Corporation (NYSE:MUR)

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

A number of other institutional investors and hedge funds have also recently modified their holdings of MUR. Ameriprise Financial Inc. lifted its holdings in shares of Murphy Oil by 61.9% in the fourth quarter. Ameriprise Financial Inc. now owns 2,147,590 shares of the oil and gas producer's stock worth $64,986,000 after buying an additional 821,427 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Murphy Oil by 108.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,529,528 shares of the oil and gas producer's stock worth $46,284,000 after buying an additional 794,730 shares in the last quarter. Bessemer Group Inc. lifted its holdings in shares of Murphy Oil by 886,485.1% in the fourth quarter. Bessemer Group Inc. now owns 594,012 shares of the oil and gas producer's stock worth $17,976,000 after buying an additional 593,945 shares in the last quarter. HITE Hedge Asset Management LLC lifted its holdings in shares of Murphy Oil by 418.9% in the fourth quarter. HITE Hedge Asset Management LLC now owns 645,252 shares of the oil and gas producer's stock worth $19,525,000 after buying an additional 520,894 shares in the last quarter. Finally, Corigliano Investment Advisers LLC purchased a new stake in shares of Murphy Oil in the fourth quarter worth about $11,023,000. 78.31% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MUR has been the topic of a number of recent analyst reports. Barclays increased their price target on shares of Murphy Oil from $22.00 to $23.00 and gave the stock an "underweight" rating in a report on Monday, July 7th. Johnson Rice downgraded shares of Murphy Oil from an "accumulate" rating to a "hold" rating in a report on Wednesday, May 21st. UBS Group lowered their target price 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. Piper Sandler lowered their target price on shares of Murphy Oil from $35.00 to $30.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 13th. Finally, Wells Fargo & Company set a $24.00 target price on shares of Murphy Oil and gave the company an "equal weight" rating in a research note on Thursday, June 26th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat, Murphy Oil presently has an average rating of "Hold" and an average target price of $29.46.

Murphy Oil Trading Up 1.7%

Shares of Murphy Oil stock traded up $0.41 on Thursday, hitting $24.73. The stock had a trading volume of 2,314,982 shares, compared to its average volume of 2,398,977. The company has a quick ratio of 0.69, a current ratio of 0.76 and a debt-to-equity ratio of 0.28. Murphy Oil Corporation has a one year low of $18.95 and a one year high of $42.84. The stock has a market cap of $3.53 billion, a price-to-earnings ratio of 9.51 and a beta of 1.09. The stock's 50-day simple moving average is $23.29 and its two-hundred day simple moving average is $25.26.

Murphy Oil (NYSE:MUR - Get Free Report) last issued its earnings results on Wednesday, May 7th. The oil and gas producer reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $684.89 million. During the same quarter last year, the business earned $0.85 earnings per share. The business's revenue was down 15.4% on a year-over-year basis. As a group, sell-side analysts predict that Murphy Oil Corporation will post 2.94 EPS for the current year.

Murphy Oil Company 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.