Truist Financial Corp cut its stake in shares of Murphy Oil Co. (NYSE:MUR – Get Rating) by 32.5% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 30,456 shares of the oil and gas producer’s stock after selling 14,668 shares during the period. Truist Financial Corp’s holdings in Murphy Oil were worth $1,071,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of MUR. Prudential Financial Inc. increased its holdings in Murphy Oil by 293.0% during the 2nd quarter. Prudential Financial Inc. now owns 1,404,552 shares of the oil and gas producer’s stock worth $42,409,000 after purchasing an additional 1,047,146 shares during the last quarter. Encompass Capital Advisors LLC purchased a new stake in Murphy Oil during the 2nd quarter worth approximately $31,190,000. Point72 Asset Management L.P. purchased a new stake in Murphy Oil during the 2nd quarter worth approximately $23,246,000. BlackRock Inc. increased its holdings in Murphy Oil by 4.4% during the 1st quarter. BlackRock Inc. now owns 17,444,116 shares of the oil and gas producer’s stock worth $704,568,000 after purchasing an additional 729,319 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Murphy Oil by 153.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,196,944 shares of the oil and gas producer’s stock worth $36,137,000 after purchasing an additional 724,779 shares during the last quarter. 77.55% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several research firms have issued reports on MUR. Morgan Stanley dropped their price objective on Murphy Oil from $48.00 to $47.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 14th. Wells Fargo & Company lowered their price target on Murphy Oil from $48.00 to $44.00 and set an “equal weight” rating for the company in a report on Tuesday, January 10th. StockNews.com downgraded Murphy Oil from a “buy” rating to a “hold” rating in a report on Thursday, December 15th. The Goldman Sachs Group boosted their price target on Murphy Oil from $44.00 to $50.00 and gave the company a “neutral” rating in a report on Wednesday, November 23rd. Finally, JPMorgan Chase & Co. upgraded Murphy Oil from a “neutral” rating to an “overweight” rating and set a $56.00 price target for the company in a report on Monday, December 5th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $49.56.
Murphy Oil Trading Up 1.2 %
Murphy Oil (NYSE:MUR – Get Rating) last announced its quarterly earnings results on Thursday, November 3rd. The oil and gas producer reported $1.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.56 by $0.28. Murphy Oil had a return on equity of 17.20% and a net margin of 25.27%. The company had revenue of $1.30 billion during the quarter, compared to analyst estimates of $930.51 million. Equities research analysts predict that Murphy Oil Co. will post 5.97 EPS for the current year.
Insiders Place Their Bets
In other Murphy Oil news, Director Robert Madison Murphy sold 30,000 shares of the business’s stock in a transaction on Monday, October 24th. The stock was sold at an average price of $48.00, for a total transaction of $1,440,000.00. Following the completion of the transaction, the director now owns 1,643,616 shares in the company, valued at approximately $78,893,568. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Thomas J. Mireles sold 15,000 shares of the business’s stock in a transaction on Tuesday, November 15th. The stock was sold at an average price of $49.06, for a total transaction of $735,900.00. Following the sale, the chief financial officer now directly owns 39,894 shares of the company’s stock, valued at $1,957,199.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert Madison Murphy sold 30,000 shares of the business’s stock in a transaction on Monday, October 24th. The stock was sold at an average price of $48.00, for a total value of $1,440,000.00. Following the sale, the director now directly owns 1,643,616 shares in the company, valued at $78,893,568. The disclosure for this sale can be found here. In the last quarter, insiders sold 240,754 shares of company stock worth $12,055,495. 6.20% of the stock is owned by company insiders.
About Murphy Oil
Murphy Oil Corporation, together with its subsidiaries, operates as an oil and natural 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.
- Get a free copy of the StockNews.com research report on Murphy Oil (MUR)
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