Mirae Asset Global Investments Co. Ltd. Purchases 111,566 Shares of Murphy Oil Corporation (NYSE:MUR)

Mirae Asset Global Investments Co. Ltd. grew its stake in Murphy Oil Corporation (NYSE:MUR) by 7,070.1% during the 1st quarter, Holdings Channel.com reports. The firm owned 113,144 shares of the oil and gas producer’s stock after acquiring an additional 111,566 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Murphy Oil were worth $3,210,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Huntington National Bank raised its position in shares of Murphy Oil by 342.8% in the fourth quarter. Huntington National Bank now owns 828 shares of the oil and gas producer’s stock valued at $25,000 after buying an additional 641 shares in the last quarter. Riverview Trust Co acquired a new position in Murphy Oil in the 1st quarter valued at $26,000. GeoWealth Management LLC bought a new stake in shares of Murphy Oil during the 4th quarter valued at $39,000. Lindbrook Capital LLC grew its holdings in shares of Murphy Oil by 60.5% during the 4th quarter. Lindbrook Capital LLC now owns 1,441 shares of the oil and gas producer’s stock worth $44,000 after purchasing an additional 543 shares in the last quarter. Finally, Byrne Asset Management LLC acquired a new position in Murphy Oil in the first quarter valued at about $44,000. 78.31% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on MUR shares. Wells Fargo & Company set a $24.00 target price on shares of Murphy Oil and gave the company an “equal weight” rating in a report on Thursday, June 26th. Johnson Rice downgraded shares of Murphy Oil from an “accumulate” rating to a “hold” rating in a research report on Wednesday, May 21st. Piper Sandler reduced their target price on Murphy Oil from $35.00 to $30.00 and set an “overweight” rating on the stock in a report on Tuesday, May 13th. Roth Capital lowered Murphy Oil from a “buy” rating to a “neutral” rating and decreased their price target for the company from $27.00 to $25.00 in a research note on Thursday, May 15th. Finally, Morgan Stanley dropped their price objective on Murphy Oil from $27.00 to $26.00 and set an “underweight” rating for the company in a research report on Friday, May 23rd. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $29.08.

Murphy Oil Price Performance

Shares of NYSE:MUR opened at $24.61 on Thursday. The firm’s fifty day moving average is $22.41 and its 200-day moving average is $25.54. Murphy Oil Corporation has a 52 week low of $18.95 and a 52 week high of $43.02. The firm has a market cap of $3.51 billion, a PE ratio of 9.47 and a beta of 1.09. 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 released its quarterly earnings results on Wednesday, May 7th. The oil and gas producer reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.08. The firm had revenue of $665.71 million during the quarter, compared to analyst estimates of $684.89 million. Murphy Oil had a net margin of 13.47% and a return on equity of 6.81%. The company’s revenue was down 15.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.85 EPS. Sell-side analysts predict that Murphy Oil Corporation will post 2.94 earnings per share for the current 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.