BNP Paribas Financial Markets Increases Stake in Murphy Oil Co. (NYSE:MUR)

BNP Paribas Financial Markets raised its position in Murphy Oil Co. (NYSE:MUR) by 3.9% in the 1st quarter, Holdings Channel reports. The fund owned 113,677 shares of the oil and gas producer’s stock after acquiring an additional 4,259 shares during the period. BNP Paribas Financial Markets’ holdings in Murphy Oil were worth $5,195,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in MUR. Comerica Bank purchased a new stake in Murphy Oil in the 3rd quarter valued at approximately $4,937,000. American Century Companies Inc. boosted its stake in shares of Murphy Oil by 3.5% in the third quarter. American Century Companies Inc. now owns 811,128 shares of the oil and gas producer’s stock valued at $36,785,000 after buying an additional 27,373 shares in the last quarter. Headinvest LLC acquired a new position in Murphy Oil during the third quarter worth $70,000. Teachers Retirement System of The State of Kentucky raised its position in Murphy Oil by 93.8% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 50,010 shares of the oil and gas producer’s stock worth $2,268,000 after acquiring an additional 24,204 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Murphy Oil by 0.8% in the third quarter. Vanguard Group Inc. now owns 16,816,692 shares of the oil and gas producer’s stock valued at $762,637,000 after acquiring an additional 137,059 shares during the period. Hedge funds and other institutional investors own 78.31% of the company’s stock.

Analysts Set New Price Targets

MUR has been the subject of a number of research analyst reports. StockNews.com downgraded shares of Murphy Oil from a “buy” rating to a “hold” rating in a report on Tuesday, June 18th. JPMorgan Chase & Co. boosted their price target on Murphy Oil from $51.00 to $52.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. Piper Sandler raised their price objective on Murphy Oil from $49.00 to $55.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. Roth Mkm reiterated a “buy” rating on shares of Murphy Oil in a research report on Wednesday, March 20th. Finally, KeyCorp raised their price target on Murphy Oil from $50.00 to $54.00 and gave the company an “overweight” rating in a research report on Monday, April 22nd. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Murphy Oil currently has a consensus rating of “Moderate Buy” and an average target price of $51.00.

Murphy Oil Trading Up 2.4 %

Murphy Oil stock opened at $41.27 on Friday. The stock has a 50-day moving average price of $41.49 and a 200 day moving average price of $41.94. Murphy Oil Co. has a 52 week low of $36.95 and a 52 week high of $49.14. The stock has a market cap of $6.30 billion, a PE ratio of 11.50 and a beta of 2.25. The company has a current ratio of 0.93, a quick ratio of 0.87 and a debt-to-equity ratio of 0.24.

Murphy Oil (NYSE:MUR) last issued its quarterly earnings results on Thursday, May 2nd. The oil and gas producer reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.03. The business had revenue of $794.80 million during the quarter, compared to the consensus estimate of $750.94 million. Murphy Oil had a net margin of 16.40% and a return on equity of 11.75%. The company’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.24 earnings per share. Equities research analysts predict that Murphy Oil Co. will post 4.23 earnings per share for the current fiscal year.

Murphy Oil 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.