Jennison Associates LLC Acquires New Position in Murphy Oil Co. (NYSE:MUR)

Jennison Associates LLC acquired a new stake in Murphy Oil Co. (NYSE:MUR) during the third quarter, according to its most recent 13F filing with the SEC. The fund acquired 40,993 shares of the oil and gas producer’s stock, valued at approximately $1,024,000.

A number of other institutional investors have also recently made changes to their positions in the stock. State of Alaska Department of Revenue raised its stake in Murphy Oil by 2.1% in the 3rd quarter. State of Alaska Department of Revenue now owns 22,895 shares of the oil and gas producer’s stock valued at $571,000 after acquiring an additional 479 shares during the period. Van ECK Associates Corp increased its position in shares of Murphy Oil by 4.0% during the second quarter. Van ECK Associates Corp now owns 14,166 shares of the oil and gas producer’s stock valued at $330,000 after buying an additional 540 shares during the period. State Board of Administration of Florida Retirement System increased its position in shares of Murphy Oil by 0.7% during the third quarter. State Board of Administration of Florida Retirement System now owns 80,258 shares of the oil and gas producer’s stock valued at $2,004,000 after buying an additional 540 shares during the period. Mercer Global Advisors Inc. ADV increased its position in shares of Murphy Oil by 4.7% during the second quarter. Mercer Global Advisors Inc. ADV now owns 12,831 shares of the oil and gas producer’s stock valued at $299,000 after buying an additional 578 shares during the period. Finally, Shell Asset Management Co. increased its position in shares of Murphy Oil by 5.7% during the second quarter. Shell Asset Management Co. now owns 15,966 shares of the oil and gas producer’s stock valued at $372,000 after buying an additional 860 shares during the period. Institutional investors and hedge funds own 78.19% of the company’s stock.

In other Murphy Oil news, SVP Thomas J. Mireles sold 3,500 shares of the stock in a transaction on Wednesday, November 10th. The stock was sold at an average price of $28.45, for a total value of $99,575.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Elisabeth W. Keller sold 11,022 shares of the firm’s stock in a transaction on Tuesday, November 9th. The shares were sold at an average price of $29.88, for a total value of $329,337.36. The disclosure for this sale can be found here. 6.47% of the stock is currently owned by corporate insiders.

Shares of Murphy Oil stock opened at $31.87 on Friday. The company has a quick ratio of 0.68, a current ratio of 0.73 and a debt-to-equity ratio of 0.64. The company has a market cap of $4.92 billion, a PE ratio of -11.85 and a beta of 2.93. The business has a 50 day moving average of $27.84 and a 200 day moving average of $24.96. Murphy Oil Co. has a 52 week low of $11.66 and a 52 week high of $32.12.

Murphy Oil (NYSE:MUR) last announced its earnings results on Thursday, November 4th. The oil and gas producer reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.09. The company had revenue of $630.70 million during the quarter, compared to the consensus estimate of $582.77 million. Murphy Oil had a positive return on equity of 2.99% and a negative net margin of 21.90%. The firm’s revenue for the quarter was up 49.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.15) earnings per share. On average, research analysts anticipate that Murphy Oil Co. will post 1.37 earnings per share for the current year.

Several equities research analysts have recently weighed in on the company. Mizuho decreased their price target on Murphy Oil from $34.00 to $33.00 in a research report on Monday, January 3rd. JPMorgan Chase & Co. upgraded shares of Murphy Oil from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $29.00 to $37.00 in a research report on Tuesday, December 7th. Truist upped their price objective on shares of Murphy Oil from $40.00 to $43.00 in a research report on Friday. Morgan Stanley upped their price objective on shares of Murphy Oil from $28.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 6th. Finally, Zacks Investment Research lowered Murphy Oil from a “buy” rating to a “hold” rating and set a $32.00 price objective for the company. in a research note on Tuesday, November 9th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Murphy Oil has an average rating of “Buy” and a consensus price target of $30.73.

Murphy Oil Profile

Murphy Oil Corp. is a holding company, which engages in the exploration and production of oil and natural gas. It operates through the Exploration and Production and Corporate and Other segment. The Exploration and Production segment includes the United States, Canada, and all other countries. The Corporate and Other segment focuses on interest income, other gains and losses, interest expense, and unallocated overhead.

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Institutional Ownership by Quarter for Murphy Oil (NYSE:MUR)

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