Murphy Oil Co. (NYSE:MUR) Shares Sold by International Assets Investment Management LLC

International Assets Investment Management LLC trimmed its holdings in shares of Murphy Oil Co. (NYSE:MUR) by 97.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 48,037 shares of the oil and gas producer’s stock after selling 1,579,231 shares during the period. International Assets Investment Management LLC’s holdings in Murphy Oil were worth $1,487,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in MUR. Everence Capital Management Inc. purchased a new stake in Murphy Oil during the fourth quarter worth approximately $276,000. JPMorgan Chase & Co. increased its stake in Murphy Oil by 26.7% in the third quarter. JPMorgan Chase & Co. now owns 1,595,260 shares of the oil and gas producer’s stock valued at $53,824,000 after purchasing an additional 336,372 shares during the last quarter. Neo Ivy Capital Management raised its holdings in Murphy Oil by 597.6% during the third quarter. Neo Ivy Capital Management now owns 71,154 shares of the oil and gas producer’s stock worth $2,400,000 after purchasing an additional 60,954 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Murphy Oil by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 3,548,711 shares of the oil and gas producer’s stock worth $119,755,000 after buying an additional 45,432 shares during the last quarter. Finally, M&T Bank Corp acquired a new position in shares of Murphy Oil in the 3rd quarter valued at $238,000. 78.31% of the stock is owned by institutional investors and hedge funds.

Murphy Oil Price Performance

Shares of NYSE MUR opened at $32.75 on Thursday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.71 and a quick ratio of 0.65. The company has a market cap of $4.78 billion, a PE ratio of 10.56 and a beta of 2.17. The stock has a fifty day moving average price of $31.23 and a 200 day moving average price of $35.02. Murphy Oil Co. has a 1-year low of $27.75 and a 1-year high of $49.14.

Murphy Oil (NYSE:MUR) last released its earnings results on Thursday, November 7th. The oil and gas producer reported $0.74 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.02). Murphy Oil had a return on equity of 9.22% and a net margin of 14.78%. The firm had revenue of $758.33 million during the quarter, compared to analyst estimates of $759.74 million. During the same quarter last year, the business posted $1.59 EPS. The firm’s revenue was down 21.0% on a year-over-year basis. Sell-side analysts forecast that Murphy Oil Co. will post 3.15 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on MUR. UBS Group cut their price target on shares of Murphy Oil from $38.00 to $34.00 and set a “neutral” rating on the stock in a research note on Monday, December 9th. JPMorgan Chase & Co. cut their target price on Murphy Oil from $47.00 to $39.00 and set a “neutral” rating on the stock in a research report on Thursday, September 12th. KeyCorp decreased their target price on Murphy Oil from $54.00 to $50.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. The Goldman Sachs Group dropped their price target on Murphy Oil from $44.00 to $39.00 and set a “neutral” rating on the stock in a research note on Monday, October 7th. Finally, Piper Sandler reduced their price objective on Murphy Oil from $42.00 to $39.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. Ten investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Murphy Oil currently has an average rating of “Hold” and an average target price of $39.58.

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.