Murphy Oil Corporation $MUR is Flax Pond Capital LLC's 2nd Largest Position

Key Points

• Flax Pond Capital reduced its Murphy Oil stake by 16% in the first quarter, selling 35,700 shares and retaining 187,256 shares worth approximately $7.7 million. Murphy Oil remains the firm’s second-largest holding at 6.2% of its portfolio.
• Murphy Oil reported quarterly earnings of $0.32 per share, exceeding estimates of $0.29, while revenue rose 9% year over year to $732.35 million.
• Analyst sentiment remains cautious, with the stock carrying a consensus “Hold” rating and an average price target of $38.33. Shares recently opened at $38.23, within a 12-month range of $21.86 to $43.34.

Flax Pond Capital LLC lowered its holdings in shares of Murphy Oil Corporation (NYSE:MUR - Free Report) by 16.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 187,256 shares of the oil and gas producer's stock after selling 35,700 shares during the period. Murphy Oil accounts for 6.2% of Flax Pond Capital LLC's investment portfolio, making the stock its 2nd largest holding. Flax Pond Capital LLC owned 0.13% of Murphy Oil worth $7,724,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Bank of America Corp DE grew its stake in shares of Murphy Oil by 3.4% in the 1st quarter. Bank of America Corp DE now owns 1,836,056 shares of the oil and gas producer's stock valued at $75,737,000 after purchasing an additional 60,190 shares during the last quarter. Kentucky Retirement Systems purchased a new position in Murphy Oil in the 1st quarter valued at $599,000. Bull Harbor Capital LLC purchased a new position in Murphy Oil during the 1st quarter worth $244,000. EverSource Wealth Advisors LLC lifted its stake in shares of Murphy Oil by 32.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,352 shares of the oil and gas producer's stock worth $97,000 after acquiring an additional 581 shares during the period. Finally, California State Teachers Retirement System increased its stake in shares of Murphy Oil by 23.9% during the first quarter. California State Teachers Retirement System now owns 159,349 shares of the oil and gas producer's stock worth $6,573,000 after acquiring an additional 30,732 shares during the period. 78.31% of the stock is owned by hedge funds and other institutional investors.

Murphy Oil Price Performance

Shares of NYSE:MUR opened at $38.23 on Friday. The firm has a market capitalization of $5.48 billion, a price-to-earnings ratio of 64.80 and a beta of 0.52. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.83 and a quick ratio of 0.77. The business's 50 day simple moving average is $36.18 and its 200-day simple moving average is $36.12. 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 released its quarterly earnings data on Wednesday, May 6th. The oil and gas producer reported $0.32 earnings per share for the quarter, beating the consensus estimate 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. Murphy Oil's quarterly revenue was up 9.0% on a year-over-year basis. As a group, equities analysts forecast that Murphy Oil Corporation will post 3.13 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on MUR shares. Roth Capital reaffirmed a "neutral" rating and issued a $36.00 price objective on shares of Murphy Oil in a report on Thursday, May 7th. Wall Street Zen cut Murphy Oil from a "buy" rating to a "hold" rating in a report on Saturday, June 27th. UBS Group decreased their price target on Murphy Oil from $44.00 to $41.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 21st. Barclays upped their price objective on Murphy Oil from $36.00 to $43.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 26th. Finally, Morgan Stanley decreased their target price on shares of Murphy Oil from $37.00 to $35.00 and set an "underweight" rating on the stock in a research report on Monday, June 29th. Three research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $38.33.

Murphy Oil Profile

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.

Want to see what other hedge funds are holding MUR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Murphy Oil Corporation (NYSE:MUR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.