Murphy Oil Co. (NYSE:MUR) Shares Sold by Great West Life Assurance Co. Can

Great West Life Assurance Co. Can decreased its holdings in Murphy Oil Co. (NYSE:MURGet Rating) by 0.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 98,327 shares of the oil and gas producer’s stock after selling 770 shares during the quarter. Great West Life Assurance Co. Can’s holdings in Murphy Oil were worth $3,454,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. International Assets Investment Management LLC acquired a new position in Murphy Oil in the third quarter worth approximately $1,612,000. NJ State Employees Deferred Compensation Plan grew its position in Murphy Oil by 53.3% in the third quarter. NJ State Employees Deferred Compensation Plan now owns 27,600 shares of the oil and gas producer’s stock worth $971,000 after buying an additional 9,600 shares during the last quarter. US Bancorp DE grew its position in Murphy Oil by 3.4% in the third quarter. US Bancorp DE now owns 23,269 shares of the oil and gas producer’s stock worth $818,000 after buying an additional 757 shares during the last quarter. Van ECK Associates Corp acquired a new position in Murphy Oil in the third quarter worth approximately $78,000. Finally, CWM LLC grew its position in Murphy Oil by 18.0% in the third quarter. CWM LLC now owns 2,387 shares of the oil and gas producer’s stock worth $84,000 after buying an additional 364 shares during the last quarter. Institutional investors and hedge funds own 77.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on MUR. Jefferies Financial Group began coverage on shares of Murphy Oil in a research report on Wednesday, October 19th. They issued a “hold” rating and a $46.00 price target on the stock. Piper Sandler lifted their price objective on shares of Murphy Oil from $62.00 to $68.00 and gave the stock an “overweight” rating in a research report on Thursday, November 17th. Mizuho reiterated a “buy” rating and set a $51.00 price objective (down from $53.00) on shares of Murphy Oil in a research report on Tuesday, January 10th. Truist Financial cut shares of Murphy Oil from a “buy” rating to a “hold” rating and set a $46.00 price objective on the stock. in a research report on Monday, December 12th. Finally, Wells Fargo & Company lowered their price objective on shares of Murphy Oil from $48.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 10th. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $49.56.

Murphy Oil Trading Up 1.0 %

Shares of NYSE:MUR opened at $42.56 on Tuesday. The firm has a fifty day moving average of $43.61 and a two-hundred day moving average of $40.40. The firm has a market capitalization of $6.62 billion, a P/E ratio of 7.16 and a beta of 2.41. Murphy Oil Co. has a 12-month low of $25.97 and a 12-month high of $51.28. The company has a quick ratio of 0.74, a current ratio of 0.78 and a debt-to-equity ratio of 0.41.

Murphy Oil (NYSE:MURGet Rating) last issued its earnings results on Thursday, November 3rd. The oil and gas producer reported $1.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.56 by $0.28. Murphy Oil had a net margin of 25.27% and a return on equity of 17.20%. The company had revenue of $1.30 billion during the quarter, compared to analyst estimates of $930.51 million. On average, equities analysts expect that Murphy Oil Co. will post 5.9 EPS for the current fiscal year.

Insider Activity at Murphy Oil

In related news, CEO Roger W. Jenkins sold 150,000 shares of Murphy Oil stock in a transaction on Friday, November 11th. The shares were sold at an average price of $50.52, for a total value of $7,578,000.00. Following the completion of the sale, the chief executive officer now owns 664,664 shares of the company’s stock, valued at approximately $33,578,825.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Roger W. Jenkins sold 150,000 shares of Murphy Oil stock in a transaction on Friday, November 11th. The shares were sold at an average price of $50.52, for a total value of $7,578,000.00. Following the completion of the sale, the chief executive officer now owns 664,664 shares of the company’s stock, valued at approximately $33,578,825.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Eric M. Hambly sold 37,000 shares of Murphy Oil stock in a transaction on Monday, November 14th. The shares were sold at an average price of $50.38, for a total transaction of $1,864,060.00. Following the completion of the sale, the executive vice president now directly owns 76,268 shares of the company’s stock, valued at approximately $3,842,381.84. The disclosure for this sale can be found here. In the last 90 days, insiders sold 210,754 shares of company stock valued at $10,615,495. Insiders own 6.20% of the company’s stock.

About Murphy Oil

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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.

Further Reading

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Institutional Ownership by Quarter for Murphy Oil (NYSE:MUR)

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