Murphy Oil Corporation (NYSE:MUR) Shares Purchased by LSV Asset Management

Key Points

• LSV Asset Management has significantly increased its stake in Murphy Oil Corporation by 29.4%, owning over 3.6 million shares valued at approximately $103.2 million.
• Analysts have mixed views on Murphy Oil, with a consensus rating of "Hold" and a target price of $29.46, while a few firms have set lower price objectives.
• Murphy Oil's shares recently dropped by 4.7%, with the company's earnings per share for the last quarter reported at $0.56, surpassing analyst expectations but with a revenue decline compared to the previous year.

LSV Asset Management increased its holdings in shares of Murphy Oil Corporation (NYSE:MUR - Free Report) by 29.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,633,023 shares of the oil and gas producer's stock after buying an additional 825,746 shares during the quarter. LSV Asset Management owned about 2.55% of Murphy Oil worth $103,178,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in MUR. Huntington National Bank lifted its holdings in shares of Murphy Oil by 342.8% during the 4th quarter. Huntington National Bank now owns 828 shares of the oil and gas producer's stock worth $25,000 after acquiring an additional 641 shares during the period. Riverview Trust Co acquired a new position in Murphy Oil during the first quarter worth approximately $26,000. GeoWealth Management LLC purchased a new position in Murphy Oil during the fourth quarter worth approximately $39,000. Byrne Asset Management LLC acquired a new position in shares of Murphy Oil in the 1st quarter valued at $44,000. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Murphy Oil by 177.8% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,725 shares of the oil and gas producer's stock valued at $49,000 after purchasing an additional 1,104 shares during the last quarter. 78.31% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently commented on MUR. Wells Fargo & Company set a $24.00 price objective on Murphy Oil and gave the stock an "equal weight" rating in a report on Thursday, June 26th. KeyCorp restated a "sector weight" rating on shares of Murphy Oil in a research note on Monday, April 21st. Morgan Stanley cut their price objective on Murphy Oil from $27.00 to $26.00 and set an "underweight" rating on the stock in a report on Friday, May 23rd. UBS Group decreased their target price on Murphy Oil from $28.00 to $23.00 and set a "neutral" rating for the company in a report on Monday, April 7th. Finally, Piper Sandler dropped their target price on shares of Murphy Oil from $35.00 to $30.00 and set an "overweight" rating for the company in a research report on Tuesday, May 13th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $29.46.

Murphy Oil Stock Down 4.7%

Shares of NYSE:MUR opened at $23.65 on Friday. The company has a market capitalization of $3.38 billion, a price-to-earnings ratio of 9.10 and a beta of 1.13. The company has a 50 day moving average of $24.08 and a two-hundred day moving average of $24.72. Murphy Oil Corporation has a 52-week low of $18.94 and a 52-week high of $39.46. 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 (NYSE:MUR - Get Free Report) last announced its earnings results on Wednesday, May 7th. The oil and gas producer reported $0.56 earnings per share 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 the consensus estimate of $684.89 million. During the same period in the prior year, the firm earned $0.85 earnings per share. The business's quarterly revenue was down 15.4% compared to the same quarter last year. As a group, 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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