Bayforest Capital Ltd Has $412,000 Stock Holdings in Murphy Oil Corporation (NYSE:MUR)

Bayforest Capital Ltd raised its stake in Murphy Oil Corporation (NYSE:MUR) by 4,974.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 14,514 shares of the oil and gas producer’s stock after buying an additional 14,228 shares during the quarter. Bayforest Capital Ltd’s holdings in Murphy Oil were worth $412,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. LSV Asset Management increased its stake in shares of Murphy Oil by 4.3% during 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 last quarter. Northern Trust Corp increased its stake in shares of 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 stake in shares of 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. Pacer Advisors Inc. increased its stake in shares of Murphy Oil by 8,530.7% during the 1st quarter. Pacer Advisors Inc. now owns 1,763,345 shares of the oil and gas producer’s stock worth $50,079,000 after purchasing an additional 1,742,914 shares during the last quarter. Finally, Cadence Bank increased its stake in shares of 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.

Analysts Set New Price Targets

Several brokerages have recently commented on MUR. Barclays increased their price target on shares of Murphy Oil from $22.00 to $23.00 and gave the stock an “underweight” rating in a research note on Monday, July 7th. Mizuho downgraded shares of Murphy Oil from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $32.00 to $31.00 in a report on Tuesday, May 13th. Johnson Rice downgraded shares of Murphy Oil from an “accumulate” rating to a “hold” rating in a report on Wednesday, May 21st. Morgan Stanley decreased their price objective on shares of Murphy Oil from $27.00 to $26.00 and set an “underweight” rating for the company in a report on Friday, May 23rd. Finally, Piper Sandler decreased their price objective on shares of 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 given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Murphy Oil currently has an average rating of “Hold” and an average target price of $29.46.

Murphy Oil Stock Down 5.1%

Shares of NYSE MUR opened at $25.58 on Thursday. The stock has a market cap of $3.65 billion, a PE ratio of 9.84 and a beta of 1.09. The business has a fifty day moving average of $23.94 and a two-hundred day moving average of $24.91. Murphy Oil Corporation has a 52-week low of $18.94 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) last announced its earnings results on Wednesday, May 7th. The oil and gas producer reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.08. Murphy Oil had a net margin of 13.47% and a return on equity of 6.81%. The business had revenue of $665.71 million during the quarter, compared to analysts’ expectations of $684.89 million. During the same quarter last year, the company posted $0.85 EPS. The firm’s revenue for the quarter was down 15.4% on a year-over-year basis. As a group, equities research analysts expect that Murphy Oil Corporation will post 2.94 earnings per share for the current fiscal year.

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.