JPMorgan Chase & Co. Purchases 336,372 Shares of Murphy Oil Co. (NYSE:MUR)

JPMorgan Chase & Co. lifted its position in shares of Murphy Oil Co. (NYSE:MUR) by 26.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,595,260 shares of the oil and gas producer’s stock after purchasing an additional 336,372 shares during the quarter. JPMorgan Chase & Co. owned 1.09% of Murphy Oil worth $53,824,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Victory Capital Management Inc. grew its position in shares of Murphy Oil by 14.7% in the 2nd quarter. Victory Capital Management Inc. now owns 920,131 shares of the oil and gas producer’s stock valued at $37,946,000 after purchasing an additional 118,074 shares during the period. Los Angeles Capital Management LLC bought a new position in Murphy Oil in the second quarter valued at approximately $712,000. LSV Asset Management boosted its holdings in shares of Murphy Oil by 16.9% in the second quarter. LSV Asset Management now owns 428,114 shares of the oil and gas producer’s stock valued at $17,655,000 after buying an additional 61,850 shares during the period. Poplar Forest Capital LLC increased its position in shares of Murphy Oil by 1.4% during the second quarter. Poplar Forest Capital LLC now owns 334,433 shares of the oil and gas producer’s stock worth $13,792,000 after acquiring an additional 4,504 shares in the last quarter. Finally, Quest Partners LLC raised its holdings in shares of Murphy Oil by 47.5% during the second quarter. Quest Partners LLC now owns 28,886 shares of the oil and gas producer’s stock worth $1,191,000 after acquiring an additional 9,303 shares during the period. Institutional investors and hedge funds own 78.31% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. UBS Group lowered their target price on Murphy Oil from $38.00 to $34.00 and set a “neutral” rating for the company in a report on Monday, December 9th. Truist Financial dropped their target price on Murphy Oil from $55.00 to $42.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Morgan Stanley reduced their price target on Murphy Oil from $43.00 to $39.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. Wells Fargo & Company lowered their price objective on shares of Murphy Oil from $39.00 to $35.00 and set an “equal weight” rating on the stock in a report on Monday, December 9th. Finally, BMO Capital Markets cut their price objective on shares of Murphy Oil from $42.00 to $40.00 and set a “market perform” rating on the stock in a research report on Friday, October 4th. Ten research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Murphy Oil currently has an average rating of “Hold” and a consensus price target of $39.58.

Murphy Oil Stock Down 0.4 %

Murphy Oil stock opened at $30.85 on Friday. Murphy Oil Co. has a fifty-two week low of $27.75 and a fifty-two week high of $49.14. 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 firm has a market capitalization of $4.50 billion, a PE ratio of 9.95 and a beta of 2.17. The company’s 50-day moving average is $31.22 and its 200-day moving average is $35.18.

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