Pacific Heights Asset Management LLC Boosts Stock Position in Murphy Oil Corporation (NYSE:MUR)

Pacific Heights Asset Management LLC lifted its holdings in Murphy Oil Corporation (NYSE:MUR - Free Report) by 350.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 450,000 shares of the oil and gas producer's stock after purchasing an additional 350,000 shares during the quarter. Pacific Heights Asset Management LLC owned 0.32% of Murphy Oil worth $12,780,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cerity Partners LLC grew its holdings in shares of Murphy Oil by 18.6% in the fourth quarter. Cerity Partners LLC now owns 9,576 shares of the oil and gas producer's stock valued at $304,000 after purchasing an additional 1,503 shares in the last quarter. Foundry Partners LLC boosted its stake in Murphy Oil by 17.9% during the fourth quarter. Foundry Partners LLC now owns 227,680 shares of the oil and gas producer's stock worth $6,890,000 after buying an additional 34,620 shares during the period. Oppenheimer Asset Management Inc. increased its position in Murphy Oil by 14.2% during the first quarter. Oppenheimer Asset Management Inc. now owns 214,258 shares of the oil and gas producer's stock valued at $6,085,000 after acquiring an additional 26,563 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in 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 acquiring an additional 111,566 shares during the last quarter. Finally, Proficio Capital Partners LLC purchased a new stake in shares of Murphy Oil in the fourth quarter valued at $678,000. 78.31% of the stock is owned by hedge funds and other institutional investors.

Murphy Oil Stock Down 2.4%

Shares of MUR stock traded down $0.59 on Monday, hitting $23.88. The stock had a trading volume of 2,374,758 shares, compared to its average volume of 2,359,690. The company has a quick ratio of 0.69, a current ratio of 0.76 and a debt-to-equity ratio of 0.28. The business has a 50 day moving average price of $22.58 and a 200 day moving average price of $25.40. The company has a market cap of $3.41 billion, a PE ratio of 9.18 and a beta of 1.09. Murphy Oil Corporation has a one year low of $18.95 and a one year high of $43.02.

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, beating the consensus estimate of $0.48 by $0.08. The firm had revenue of $665.71 million during the quarter, compared to the consensus estimate of $684.89 million. Murphy Oil had a return on equity of 6.81% and a net margin of 13.47%. The firm's quarterly revenue was down 15.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.85 earnings per share. Research analysts anticipate that Murphy Oil Corporation will post 2.94 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MUR has been the topic of several recent analyst reports. KeyCorp reissued a "sector weight" rating on shares of Murphy Oil in a research note on Monday, April 21st. Roth Capital downgraded shares of Murphy Oil from a "buy" rating to a "neutral" rating and reduced their target price for the company from $27.00 to $25.00 in a research note on Thursday, May 15th. Mizuho downgraded shares of Murphy Oil from an "outperform" rating to a "neutral" rating and reduced their target price for the company from $32.00 to $31.00 in a research note on Tuesday, May 13th. Piper Sandler reduced their target price 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, UBS Group reduced their target price on shares of Murphy Oil from $28.00 to $23.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, Murphy Oil has an average rating of "Hold" and an average target price of $29.15.

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.