Louisiana State Employees Retirement System Takes Position in Murphy Oil Corporation $MUR

Louisiana State Employees Retirement System bought a new stake in Murphy Oil Corporation (NYSE:MUR) in the 1st quarter, HoldingsChannel.com reports. The firm bought 38,900 shares of the oil and gas producer’s stock, valued at approximately $1,605,000.

Other hedge funds have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Murphy Oil by 1.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 84,061 shares of the oil and gas producer’s stock worth $2,387,000 after acquiring an additional 1,419 shares during the period. United Services Automobile Association acquired a new stake in shares of Murphy Oil during the 1st quarter valued at about $265,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Murphy Oil by 22.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 249,094 shares of the oil and gas producer’s stock valued at $7,074,000 after purchasing an additional 45,841 shares in the last quarter. Cetera Investment Advisers raised its holdings in Murphy Oil by 9.8% in the 2nd quarter. Cetera Investment Advisers now owns 31,471 shares of the oil and gas producer’s stock worth $708,000 after purchasing an additional 2,819 shares during the period. Finally, EverSource Wealth Advisors LLC raised its holdings in Murphy Oil by 437.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,802 shares of the oil and gas producer’s stock worth $86,000 after purchasing an additional 3,095 shares during the period. 78.31% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MUR has been the topic of several research analyst reports. Scotiabank reissued a “sector perform” rating and issued a $44.00 price objective on shares of Murphy Oil in a report on Wednesday, May 13th. UBS Group upped their target price on Murphy Oil from $43.00 to $44.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 15th. Piper Sandler upgraded Murphy Oil from a “neutral” rating to an “overweight” rating and increased their target price for the company from $33.00 to $41.00 in a research report on Thursday, March 12th. Morgan Stanley cut their price target on shares of Murphy Oil from $37.00 to $35.00 and set an “underweight” rating for the company in a report on Monday. Finally, The Goldman Sachs Group upped their price objective on shares of Murphy Oil from $29.00 to $33.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 11th. Three research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Murphy Oil currently has a consensus rating of “Hold” and an average price target of $38.58.

Murphy Oil Stock Down 3.0%

NYSE MUR opened at $31.59 on Thursday. The business has a fifty day moving average price of $37.71 and a 200 day moving average price of $35.52. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.77 and a current ratio of 0.83. The company has a market cap of $4.53 billion, a P/E ratio of 53.55 and a beta of 0.52. Murphy Oil Corporation has a one year low of $21.86 and a one year high of $43.34.

Murphy Oil (NYSE:MUR) last announced its earnings results on Wednesday, May 6th. The oil and gas producer reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.03. Murphy Oil had a net margin of 3.02% and a return on equity of 3.09%. The company had revenue of $732.35 million for the quarter, compared to analysts’ expectations of $702.96 million. During the same quarter in the previous year, the company posted $0.56 EPS. The firm’s quarterly revenue was up 9.0% on a year-over-year basis. Research analysts anticipate that Murphy Oil Corporation will post 3.13 EPS for the current fiscal year.

About Murphy Oil

Murphy Oil Corporation is an independent upstream oil and gas company engaged in the exploration, development and production of crude oil, natural gas and natural gas liquids. The company’s operations encompass conventional onshore and offshore reservoirs, with an emphasis on liquids-rich properties and deepwater assets. Through a combination of proprietary technologies and strategic joint ventures, Murphy Oil seeks to optimize recovery rates and manage its portfolio to balance long-term resource development with operational flexibility.

Murphy Oil’s exploration and production activities are geographically diversified.