Murphy Oil Corporation (NYSE:MUR) Holdings Lifted by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. grew its position in Murphy Oil Corporation (NYSE:MUR - Free Report) by 9.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 338,114 shares of the oil and gas producer's stock after purchasing an additional 30,176 shares during the period. Envestnet Asset Management Inc. owned approximately 0.24% of Murphy Oil worth $9,602,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of MUR. Proficio Capital Partners LLC bought a new position in Murphy Oil in the 4th quarter worth about $678,000. Raymond James Financial Inc. bought a new position in Murphy Oil in the 4th quarter worth about $3,846,000. Corient Private Wealth LLC grew its position in Murphy Oil by 4.1% in the 4th quarter. Corient Private Wealth LLC now owns 54,739 shares of the oil and gas producer's stock worth $1,656,000 after purchasing an additional 2,133 shares during the last quarter. Cibc World Markets Corp bought a new position in Murphy Oil in the 4th quarter worth about $406,000. Finally, Xponance Inc. grew its position in Murphy Oil by 2.9% in the 4th quarter. Xponance Inc. now owns 19,916 shares of the oil and gas producer's stock worth $603,000 after purchasing an additional 570 shares during the last quarter. Institutional investors own 78.31% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Wells Fargo & Company set a $24.00 target price on shares of Murphy Oil and gave the stock an "equal weight" rating in a research report on Thursday, June 26th. KeyCorp reiterated a "sector weight" rating on shares of Murphy Oil in a report on Monday, April 21st. Piper Sandler decreased their price objective 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. Scotiabank reiterated a "sector perform" rating and issued a $26.00 price objective (up from $22.00) on shares of Murphy Oil in a report on Friday, July 11th. Finally, Johnson Rice cut shares of Murphy Oil from an "accumulate" rating to a "hold" rating in a report on Wednesday, May 21st. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $29.46.

Murphy Oil Stock Down 1.0%

MUR stock opened at $24.49 on Monday. Murphy Oil Corporation has a 12 month low of $18.95 and a 12 month high of $41.81. The firm has a market cap of $3.50 billion, a PE ratio of 9.42 and a beta of 1.09. The firm has a 50 day simple moving average of $23.35 and a 200 day simple moving average of $25.15. 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 (NYSE:MUR - Get Free Report) last released its earnings results on Wednesday, May 7th. The oil and gas producer reported $0.56 EPS for the quarter, beating 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 business had revenue of $665.71 million during the quarter, compared to analyst estimates of $684.89 million. During the same period in the prior year, the business earned $0.85 earnings per share. The business's quarterly revenue was down 15.4% on a year-over-year basis. Equities research analysts forecast that Murphy Oil Corporation will post 2.94 earnings per share for the current fiscal 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.

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