Poplar Forest Capital LLC lifted its position in Murphy Oil Corporation (NYSE:MUR - Free Report) by 16.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 397,174 shares of the oil and gas producer's stock after acquiring an additional 57,466 shares during the period. Murphy Oil accounts for approximately 2.0% of Poplar Forest Capital LLC's investment portfolio, making the stock its 25th biggest holding. Poplar Forest Capital LLC owned about 0.28% of Murphy Oil worth $11,280,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in the business. Ameriprise Financial Inc. raised its holdings in Murphy Oil by 61.9% in the 4th 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 last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Murphy Oil by 108.2% during the 4th 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 during the last quarter. Bessemer Group Inc. increased its holdings in shares of Murphy Oil by 886,485.1% during the 4th 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 during the last quarter. HITE Hedge Asset Management LLC increased its holdings in shares of Murphy Oil by 418.9% during the 4th 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 during the last quarter. Finally, Corigliano Investment Advisers LLC acquired a new stake in shares of Murphy Oil during the 4th quarter worth approximately $11,023,000. 78.31% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of brokerages have recently weighed in on MUR. Roth Capital lowered shares of Murphy Oil from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $27.00 to $25.00 in a report on Thursday, May 15th. KeyCorp restated a "sector weight" rating on shares of Murphy Oil in a research note on Monday, April 21st. Scotiabank restated a "sector perform" rating and issued a $26.00 price objective (up from $22.00) on shares of Murphy Oil in a research note on Friday, July 11th. Morgan Stanley lowered their target price on shares of Murphy Oil from $27.00 to $26.00 and set an "underweight" rating on the stock in a report on Friday, May 23rd. Finally, 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 report on Monday, April 7th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $29.46.
Read Our Latest Report on MUR
Murphy Oil Stock Up 4.0%
Shares of NYSE:MUR opened at $25.30 on Wednesday. The stock has a market capitalization of $3.61 billion, a price-to-earnings ratio of 9.73 and a beta of 1.09. Murphy Oil Corporation has a 1-year low of $18.95 and a 1-year high of $41.81. The company's fifty day moving average is $23.41 and its two-hundred day moving average is $25.10. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.69 and a current ratio of 0.76.
Murphy Oil (NYSE:MUR - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The oil and gas producer reported $0.56 earnings per share for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $684.89 million. During the same quarter last year, the company earned $0.85 EPS. The company's revenue for the quarter was down 15.4% compared to the same quarter last year. Equities analysts anticipate that Murphy Oil Corporation will post 2.94 EPS for the current year.
Murphy Oil Company Profile
(
Free Report)
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.
See Also
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Murphy Oil, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Murphy Oil wasn't on the list.
While Murphy Oil currently has a Reduce rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
