Pacific Heights Asset Management LLC Has $12.78 Million Holdings in Murphy Oil Corporation (NYSE:MUR)

Pacific Heights Asset Management LLC grew its holdings in shares of Murphy Oil Corporation (NYSE:MUR - Free Report) by 350.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 450,000 shares of the oil and gas producer's stock after buying an additional 350,000 shares during the period. Pacific Heights Asset Management LLC owned 0.32% of Murphy Oil worth $12,780,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. increased its position in Murphy Oil by 0.9% in the 1st quarter. Principal Financial Group Inc. now owns 317,879 shares of the oil and gas producer's stock valued at $9,028,000 after acquiring an additional 2,713 shares during the period. Teacher Retirement System of Texas bought a new position in shares of Murphy Oil in the first quarter worth $577,000. New York State Teachers Retirement System increased its holdings in shares of Murphy Oil by 3.7% during the first quarter. New York State Teachers Retirement System now owns 208,759 shares of the oil and gas producer's stock valued at $5,929,000 after purchasing an additional 7,447 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Murphy Oil by 7,070.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 113,144 shares of the oil and gas producer's stock valued at $3,210,000 after purchasing an additional 111,566 shares during the period. Finally, Robeco Institutional Asset Management B.V. raised its stake in shares of Murphy Oil by 1,162.2% during the first quarter. Robeco Institutional Asset Management B.V. now owns 144,742 shares of the oil and gas producer's stock valued at $4,111,000 after purchasing an additional 133,275 shares in the last quarter. Institutional investors own 78.31% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Barclays decreased their target price on shares of Murphy Oil from $24.00 to $22.00 and set an "underweight" rating for the company in a research report on Friday, May 9th. Johnson Rice lowered shares of Murphy Oil from an "accumulate" rating to a "hold" rating in a research note on Wednesday, May 21st. Morgan Stanley decreased their price objective on shares of Murphy Oil from $27.00 to $26.00 and set an "underweight" rating for the company in a report on Friday, May 23rd. Piper Sandler lowered their price objective 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 Murphy Oil and gave the stock an "equal weight" rating in a report on Thursday, June 26th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $29.08.

Murphy Oil Price Performance

MUR stock traded down $0.68 on Friday, hitting $23.94. 844,209 shares of the company's stock traded hands, compared to its average volume of 2,353,806. The stock has a market cap of $3.42 billion, a price-to-earnings ratio of 9.21 and a beta of 1.09. Murphy Oil Corporation has a 1-year low of $18.95 and a 1-year high of $43.02. The company has a current ratio of 0.76, a quick ratio of 0.69 and a debt-to-equity ratio of 0.28. The stock has a fifty day moving average of $22.47 and a 200-day moving average of $25.50.

Murphy Oil (NYSE:MUR - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The oil and gas producer reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.08. Murphy Oil had a return on equity of 6.81% and a net margin of 13.47%. The company had revenue of $665.71 million for the quarter, compared to analysts' expectations of $684.89 million. During the same quarter in the prior year, the company earned $0.85 earnings per share. The firm's revenue was down 15.4% on a year-over-year basis. On average, analysts forecast that Murphy Oil Corporation will post 2.94 EPS 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.