Murphy Oil Corp. (NYSE:MUR) dropped 3.1% during trading on Monday . The company traded as low as $29.70 and last traded at $29.70, with a volume of 1,127,393 shares changing hands. The stock had previously closed at $30.66.

MUR has been the topic of a number of recent research reports. Zacks Investment Research upgraded Murphy Oil Corp. from a “hold” rating to a “buy” rating and set a $29.00 target price on the stock in a research report on Tuesday, March 22nd. Simmons upped their target price on Murphy Oil Corp. to $17.00 in a research report on Friday, March 25th. Barclays PLC upped their target price on Murphy Oil Corp. from $23.00 to $27.00 and gave the company an “equal weight” rating in a research report on Friday, April 8th. Goldman Sachs Group Inc. upped their target price on Murphy Oil Corp. from $19.00 to $20.00 and gave the company a “sell” rating in a research report on Thursday, May 5th. Finally, Credit Suisse Group AG reiterated a “hold” rating on shares of Murphy Oil Corp. in a research report on Sunday, May 8th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $31.50.

The stock’s market capitalization is $5.42 billion. The company’s 50-day moving average is $30.71 and its 200-day moving average is $25.46.

Murphy Oil Corp. (NYSE:MUR) last released its quarterly earnings results on Wednesday, May 4th. The company reported ($0.66) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.71) by $0.05. The firm had revenue of $430.30 million for the quarter, compared to analysts’ expectations of $446.29 million. During the same quarter in the prior year, the business earned $0.02 EPS. The company’s quarterly revenue was down 53.3% compared to the same quarter last year. On average, analysts predict that Murphy Oil Corp. will post ($1.70) earnings per share for the current year.

In other Murphy Oil Corp. news, VP John B. Gardner sold 1,246 shares of Murphy Oil Corp. stock in a transaction that occurred 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 filing with the SEC, which can be accessed through the SEC website. Also, VP Allan J. Misner sold 7,163 shares of Murphy Oil Corp. stock in a transaction that occurred on Tuesday, May 10th. The shares were 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 owns 100 shares in the company, valued at $2,939. The disclosure for this sale can be found here.

Several hedge funds and institutional investors recently made changes to their positions in the stock. Gulf International Bank UK Ltd increased its position in shares of Murphy Oil Corp. by 1.0% in the fourth quarter. Gulf International Bank UK Ltd now owns 50,267 shares of the company’s stock valued at $1,128,000 after buying an additional 500 shares during the period. BNP Paribas Arbitrage SA increased its position in shares of Murphy Oil Corp. by 1,615.9% in the fourth quarter. BNP Paribas Arbitrage SA now owns 51,184 shares of the company’s stock valued at $1,149,000 after buying an additional 48,201 shares during the period. Suntrust Banks Inc. increased its position in shares of Murphy Oil Corp. by 30.8% in the fourth quarter. Suntrust Banks Inc. now owns 62,678 shares of the company’s stock valued at $1,405,000 after buying an additional 14,775 shares during the period. TD Asset Management Inc. increased its position in shares of Murphy Oil Corp. by 1.5% in the fourth quarter. TD Asset Management Inc. now owns 75,128 shares of the company’s stock valued at $1,687,000 after buying an additional 1,100 shares during the period. Finally, PNC Financial Services Group Inc. increased 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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.