Allworth Financial LP Has $50,000 Stock Holdings in Murphy Oil Corporation (NYSE:MUR)

Allworth Financial LP grew its stake in shares of Murphy Oil Corporation (NYSE:MUR) by 246.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,747 shares of the oil and gas producer’s stock after purchasing an additional 1,243 shares during the quarter. Allworth Financial LP’s holdings in Murphy Oil were worth $50,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in MUR. M&T Bank Corp increased its holdings in Murphy Oil by 578.1% during the first quarter. M&T Bank Corp now owns 46,652 shares of the oil and gas producer’s stock worth $1,325,000 after buying an additional 39,772 shares during the last quarter. U.S. Capital Wealth Advisors LLC acquired a new stake in Murphy Oil in the first quarter valued at $284,000. Envestnet Asset Management Inc. grew its position in shares of Murphy Oil by 9.8% in the 1st quarter. Envestnet Asset Management Inc. now owns 338,114 shares of the oil and gas producer’s stock valued at $9,602,000 after acquiring an additional 30,176 shares during the period. Penserra Capital Management LLC increased its stake in shares of Murphy Oil by 3.2% during the 1st quarter. Penserra Capital Management LLC now owns 17,367 shares of the oil and gas producer’s stock worth $493,000 after purchasing an additional 532 shares during the last quarter. Finally, Simmons Bank raised its holdings in shares of Murphy Oil by 38.9% in the 1st quarter. Simmons Bank now owns 60,643 shares of the oil and gas producer’s stock valued at $1,722,000 after purchasing an additional 16,975 shares during the period. Institutional investors own 78.31% of the company’s stock.

Analysts Set New Price Targets

MUR has been the topic of a number of recent analyst reports. Wells Fargo & Company set a $24.00 price target on Murphy Oil and gave the stock an “equal weight” rating in a research report on Thursday, June 26th. Barclays increased their price target on Murphy Oil from $22.00 to $23.00 and gave the company an “underweight” rating in a research note on Monday, July 7th. Mizuho cut shares of Murphy Oil from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $32.00 to $31.00 in a research report on Tuesday, May 13th. Morgan Stanley decreased 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. Finally, Johnson Rice cut shares of Murphy Oil from an “accumulate” rating to a “hold” rating in a research note on Wednesday, May 21st. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Murphy Oil presently has an average rating of “Hold” and a consensus target price of $29.46.

Murphy Oil Stock Down 1.0%

NYSE MUR opened at $24.49 on Friday. The company has a market cap of $3.50 billion, a price-to-earnings ratio of 9.42 and a beta of 1.09. Murphy Oil Corporation has a 1-year low of $18.95 and a 1-year high of $41.98. The company has a current ratio of 0.76, a quick ratio of 0.69 and a debt-to-equity ratio of 0.28. The company has a 50 day moving average of $23.35 and a 200-day moving average of $25.22.

Murphy Oil (NYSE:MUR) last announced its quarterly earnings data on Wednesday, May 7th. The oil and gas producer reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.08. The firm had revenue of $665.71 million during the quarter, compared to analysts’ expectations of $684.89 million. Murphy Oil had a return on equity of 6.81% and a net margin of 13.47%. The company’s quarterly revenue was down 15.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.85 EPS. On average, equities research analysts expect that Murphy Oil Corporation will post 2.94 earnings per share for the current fiscal year.

About Murphy Oil

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.