Concurrent Investment Advisors LLC Buys 58,521 Shares of Murphy Oil Corporation $MUR

Concurrent Investment Advisors LLC grew its stake in shares of Murphy Oil Corporation (NYSE:MUR) by 512.1% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 69,948 shares of the oil and gas producer’s stock after buying an additional 58,521 shares during the period. Concurrent Investment Advisors LLC’s holdings in Murphy Oil were worth $1,987,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in MUR. SG Americas Securities LLC increased its stake in Murphy Oil by 249.7% during the third quarter. SG Americas Securities LLC now owns 92,731 shares of the oil and gas producer’s stock valued at $2,634,000 after acquiring an additional 66,214 shares during the period. Park Avenue Securities LLC acquired a new stake in shares of Murphy Oil during the 3rd quarter worth approximately $383,000. Vaughan Nelson Investment Management L.P. increased its position in shares of Murphy Oil by 60.0% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 2,119,622 shares of the oil and gas producer’s stock valued at $60,218,000 after purchasing an additional 794,510 shares during the period. Greenleaf Trust acquired a new position in shares of Murphy Oil in the third quarter valued at $235,000. Finally, Hennessy Advisors Inc. acquired a new position in shares of Murphy Oil in the third quarter valued at $384,000. Institutional investors own 78.31% of the company’s stock.

Murphy Oil Price Performance

NYSE:MUR opened at $33.64 on Friday. The company has a quick ratio of 0.87, a current ratio of 0.94 and a debt-to-equity ratio of 0.27. The firm has a market cap of $4.80 billion, a PE ratio of 34.32 and a beta of 0.78. Murphy Oil Corporation has a 12 month low of $18.94 and a 12 month high of $35.19. The company’s 50-day moving average price is $31.49 and its two-hundred day moving average price is $27.97.

Murphy Oil (NYSE:MUR) last posted its quarterly earnings data on Wednesday, November 5th. The oil and gas producer reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.25. The company had revenue of $720.97 million during the quarter, compared to analyst estimates of $648.80 million. Murphy Oil had a net margin of 5.16% and a return on equity of 4.30%. The company’s revenue was down 3.3% on a year-over-year basis. During the same quarter last year, the business posted $0.74 earnings per share. On average, equities analysts anticipate that Murphy Oil Corporation will post 2.94 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Zacks Research raised shares of Murphy Oil from a “strong sell” rating to a “hold” rating in a report on Monday, November 10th. Evercore ISI lowered their target price on shares of Murphy Oil from $23.00 to $22.00 and set an “in-line” rating on the stock in a research note on Monday, October 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Murphy Oil in a research report on Monday, December 29th. Wells Fargo & Company lifted their price objective on Murphy Oil from $26.00 to $28.00 and gave the company an “equal weight” rating in a report on Friday, November 14th. Finally, Morgan Stanley lowered their price objective on Murphy Oil from $28.00 to $27.00 and set an “underweight” rating on the stock in a research note on Tuesday, October 14th. Thirteen research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Murphy Oil presently has a consensus rating of “Reduce” and an average target price of $29.75.

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.