Murphy Oil Corp. (NYSE:MUR) shares fell 8.1% during trading on Tuesday . The company traded as low as $30.00 and last traded at $30.02, with a volume of 1,668,309 shares traded. The stock had previously closed at $32.66.

A number of research firms have recently commented on MUR. Zacks Investment Research cut shares of Murphy Oil Corp. from a “buy” rating to a “hold” rating in a research report on Monday, April 25th. Goldman Sachs Group Inc. boosted their target price on shares of Murphy Oil Corp. from $19.00 to $20.00 and gave the stock a “sell” rating in a research report on Thursday, May 5th. JPMorgan Chase & Co. reaffirmed a “hold” rating on shares of Murphy Oil Corp. in a report on Thursday, June 30th. Credit Suisse Group AG reaffirmed a “hold” rating on shares of Murphy Oil Corp. in a report on Sunday, May 8th. Finally, Raymond James Financial Inc. raised shares of Murphy Oil Corp. from an “underperform” rating to a “market perform” rating in a report on Monday, June 20th. Three investment analysts have rated the stock with a sell rating and twelve have given a hold rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $30.43.

The company’s market capitalization is $5.44 billion. The firm has a 50 day moving average of $30.56 and a 200-day moving average of $25.23.

Murphy Oil Corp. (NYSE:MUR) last posted its quarterly earnings data on Wednesday, May 4th. The company reported ($0.66) earnings per share for the quarter, beating the consensus estimate of ($0.71) by $0.05. During the same period in the prior year, the company posted $0.02 earnings per share. The business earned $430.30 million during the quarter, compared to the consensus estimate of $446.29 million. The firm’s revenue was down 53.3% compared to the same quarter last year. On average, analysts forecast that Murphy Oil Corp. will post ($1.83) EPS for the current fiscal year.

In related news, VP John B. Gardner sold 1,246 shares of the firm’s stock in a transaction on Monday, May 23rd. The stock was sold at an average price of $29.39, for a total value of $36,619.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Allan J. Misner sold 7,163 shares of the firm’s stock in a transaction on Tuesday, May 10th. The stock was sold at an average price of $29.39, for a total value of $210,520.57. Following the completion of the transaction, the vice president now directly owns 100 shares of the company’s stock, valued at $2,939. The disclosure for this sale can be found here.

Other hedge funds and institutional investors have recently modified their holdings of the company. Old Mutual Global Investors UK Ltd. boosted its position in shares of Murphy Oil Corp. by 126,962.6% in the fourth quarter. Old Mutual Global Investors UK Ltd. now owns 115,627 shares of the company’s stock valued at $2,595,000 after buying an additional 115,536 shares during the period. New York State Common Retirement Fund boosted its position in shares of Murphy Oil Corp. by 51.9% in the fourth quarter. New York State Common Retirement Fund now owns 620,027 shares of the company’s stock valued at $13,920,000 after buying an additional 211,827 shares during the period. Comerica Bank boosted its position in shares of Murphy Oil Corp. by 15.3% in the fourth quarter. Comerica Bank now owns 192,850 shares of the company’s stock valued at $3,724,000 after buying an additional 25,537 shares during the period. Engineers Gate Manager LP boosted its position in shares of Murphy Oil Corp. by 54.1% in the fourth quarter. Engineers Gate Manager LP now owns 292,717 shares of the company’s stock valued at $6,571,000 after buying an additional 102,757 shares during the period. Finally, PNC Financial Services Group Inc. boosted its position in shares of Murphy Oil Corp. by 17.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 75,432 shares of the company’s stock valued at $1,693,000 after buying an additional 11,264 shares during the period.

Murphy Oil Corporation is an oil and gas exploration and production company. The Company’s exploration and production business explores for and produces crude oil, natural gas and natural gas liquids across the world. The Company’s exploration and production activities are subdivided into four geographic segments, including the United States, Canada, Malaysia and all other countries.

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