Jennison Associates LLC Invests $1.02 Million in Murphy Oil Co. (NYSE:MUR)

Jennison Associates LLC purchased a new position in shares of Murphy Oil Co. (NYSE:MUR) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 40,993 shares of the oil and gas producer’s stock, valued at approximately $1,024,000.

A number of other hedge funds have also modified their holdings of the business. State of Alaska Department of Revenue boosted its position in Murphy Oil by 2.1% during the third quarter. State of Alaska Department of Revenue now owns 22,895 shares of the oil and gas producer’s stock worth $571,000 after purchasing an additional 479 shares in the last quarter. Van ECK Associates Corp boosted its position in 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 worth $330,000 after purchasing an additional 540 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its position in 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 worth $2,004,000 after purchasing an additional 540 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its position in 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 worth $299,000 after purchasing an additional 578 shares in the last quarter. Finally, Shell Asset Management Co. boosted its position in 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 worth $372,000 after purchasing an additional 860 shares in the last quarter. Institutional investors own 78.19% of the company’s stock.

MUR has been the subject of a number of research analyst reports. Wells Fargo & Company raised Murphy Oil from an “underweight” rating to an “equal weight” rating in a report on Wednesday, January 5th. Morgan Stanley increased their target price on Murphy Oil from $28.00 to $32.00 and gave the company an “equal weight” rating in a report on Wednesday, October 6th. JPMorgan Chase & Co. raised Murphy Oil from a “neutral” rating to an “overweight” rating and increased their target price for the company from $29.00 to $37.00 in a report on Tuesday, December 7th. Mizuho reduced their target price on Murphy Oil from $34.00 to $33.00 in a report on Monday, January 3rd. Finally, Truist Securities increased their target price on Murphy Oil from $40.00 to $43.00 in a report on Friday. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Murphy Oil currently has an average rating of “Buy” and a consensus target price of $30.73.

In related news, SVP Thomas J. Mireles sold 3,500 shares of Murphy Oil 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Elisabeth W. Keller sold 11,022 shares of Murphy Oil 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. Company insiders own 6.47% of the company’s stock.

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

Murphy Oil (NYSE:MUR) last released its quarterly earnings results on Thursday, November 4th. The oil and gas producer reported $0.24 EPS for the quarter, topping the consensus estimate of $0.15 by $0.09. Murphy Oil had a positive return on equity of 2.99% and a negative net margin of 21.90%. The business had revenue of $630.70 million during the quarter, compared to analyst estimates of $582.77 million. During the same period last year, the business posted ($0.15) earnings per share. The company’s quarterly revenue was up 49.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Murphy Oil Co. will post 1.37 EPS for the current year.

About Murphy Oil

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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