Victory Capital Management Inc. Cuts Position in Murphy Oil Corporation (NYSE:MUR)

Victory Capital Management Inc. decreased its position in Murphy Oil Corporation (NYSE:MUR - Free Report) by 7.9% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 833,009 shares of the oil and gas producer's stock after selling 71,440 shares during the period. Victory Capital Management Inc. owned about 0.58% of Murphy Oil worth $23,657,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in MUR. LSV Asset Management raised its holdings in shares of Murphy Oil by 4.3% in the 4th quarter. LSV Asset Management now owns 2,807,277 shares of the oil and gas producer's stock worth $84,948,000 after purchasing an additional 114,656 shares during the period. Northern Trust Corp increased its holdings in Murphy Oil by 5.1% during the 4th quarter. Northern Trust Corp now owns 2,234,585 shares of the oil and gas producer's stock worth $67,619,000 after purchasing an additional 107,871 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in Murphy Oil by 61.9% during the 4th quarter. Ameriprise Financial Inc. now owns 2,147,590 shares of the oil and gas producer's stock worth $64,986,000 after purchasing an additional 821,427 shares during the last quarter. American Century Companies Inc. increased its holdings in Murphy Oil by 20.4% during the 4th quarter. American Century Companies Inc. now owns 1,674,590 shares of the oil and gas producer's stock worth $50,673,000 after purchasing an additional 283,695 shares during the last quarter. Finally, Cadence Bank increased its holdings in Murphy Oil by 0.6% during the 4th quarter. Cadence Bank now owns 1,658,227 shares of the oil and gas producer's stock worth $50,178,000 after purchasing an additional 9,800 shares during the last quarter. Institutional investors and hedge funds own 78.31% of the company's stock.

Murphy Oil Stock Down 0.8%

NYSE MUR opened at $24.29 on Tuesday. The stock has a fifty day moving average of $23.35 and a 200-day moving average of $25.15. The stock has a market capitalization of $3.47 billion, a P/E ratio of 9.95 and a beta of 1.09. Murphy Oil Corporation has a 52 week low of $18.95 and a 52 week high of $41.81. 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 posted its earnings results on Wednesday, May 7th. The oil and gas producer reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.08. The firm had revenue of $665.71 million for the quarter, compared to analyst estimates of $684.89 million. Murphy Oil had a return on equity of 6.81% and a net margin of 13.47%. The company's revenue for the quarter 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. On average, equities research analysts forecast that Murphy Oil Corporation will post 2.94 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on MUR. KeyCorp restated a "sector weight" rating on shares of Murphy Oil in a report on Monday, April 21st. Barclays upped their price objective on Murphy Oil from $22.00 to $23.00 and gave the company an "underweight" rating in a report on Monday, July 7th. Roth Capital downgraded 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 report on Thursday, May 15th. Scotiabank reaffirmed a "sector perform" rating and set a $26.00 target price (up from $22.00) on shares of Murphy Oil in a report on Friday, July 11th. Finally, Piper Sandler reduced their target price on Murphy Oil from $35.00 to $30.00 and set an "overweight" rating for the company in a report on Tuesday, May 13th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $29.46.

About Murphy Oil

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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