Amalgamated Bank Has $1.74 Million Stock Position in Murphy Oil Corporation (NYSE:MUR)

Amalgamated Bank cut its holdings in Murphy Oil Corporation (NYSE:MUR) by 2.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 61,242 shares of the oil and gas producer’s stock after selling 1,795 shares during the period. Amalgamated Bank’s holdings in Murphy Oil were worth $1,739,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Murphy Oil by 7,070.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 113,144 shares of the oil and gas producer’s stock valued at $3,210,000 after purchasing an additional 111,566 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in shares of Murphy Oil by 1,162.2% in the first quarter. Robeco Institutional Asset Management B.V. now owns 144,742 shares of the oil and gas producer’s stock valued at $4,111,000 after purchasing an additional 133,275 shares during the last quarter. Security National Bank raised its holdings in shares of Murphy Oil by 0.7% in the first quarter. Security National Bank now owns 199,857 shares of the oil and gas producer’s stock valued at $5,676,000 after purchasing an additional 1,400 shares during the last quarter. Bessemer Group Inc. raised its holdings in shares of Murphy Oil by 4.6% in the first quarter. Bessemer Group Inc. now owns 621,575 shares of the oil and gas producer’s stock valued at $17,654,000 after purchasing an additional 27,563 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. raised its holdings in shares of Murphy Oil by 14.2% in the first quarter. Oppenheimer Asset Management Inc. now owns 214,258 shares of the oil and gas producer’s stock valued at $6,085,000 after purchasing an additional 26,563 shares during the last quarter. 78.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

MUR has been the topic of a number of recent research reports. Morgan Stanley lowered their price objective on shares of Murphy Oil from $27.00 to $26.00 and set an “underweight” rating on the stock in a report on Friday, May 23rd. Mizuho cut shares of Murphy Oil from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $32.00 to $31.00 in a research note on Tuesday, May 13th. Johnson Rice cut shares of Murphy Oil from an “accumulate” rating to a “hold” rating in a research note on Wednesday, May 21st. Barclays decreased their target price on shares of Murphy Oil from $24.00 to $22.00 and set an “underweight” rating for the company in a research note on Friday, May 9th. Finally, Scotiabank decreased their target price on shares of Murphy Oil from $36.00 to $22.00 and set a “sector perform” rating for the company in a research note on Friday, April 11th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Murphy Oil has a consensus rating of “Hold” and a consensus price target of $29.08.

Murphy Oil Trading Down 2.7%

Shares of Murphy Oil stock opened at $23.94 on Monday. The firm has a 50-day moving average of $22.53 and a 200-day moving average of $25.43. The stock has a market cap of $3.42 billion, a PE ratio of 9.21 and a beta of 1.09. Murphy Oil Corporation has a 52-week low of $18.95 and a 52-week high of $43.02. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.69 and a current ratio of 0.76.

Murphy Oil (NYSE:MUR) last announced its earnings results on Wednesday, May 7th. The oil and gas producer reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.08. The company had revenue of $665.71 million during the quarter, compared to analysts’ expectations of $684.89 million. Murphy Oil had a net margin of 13.47% and a return on equity of 6.81%. Murphy Oil’s quarterly revenue was down 15.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.85 earnings per share. As a group, sell-side analysts forecast that Murphy Oil Corporation will post 2.94 EPS for the current year.

Murphy Oil Profile

Murphy Oil Corporation, together with its subsidiaries, operates as an oil and 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.