Clearbridge Investments LLC lessened its stake in shares of Murphy Oil Co. (NYSE:MUR) by 0.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 357,630 shares of the oil and gas producer’s stock after selling 636 shares during the quarter. Clearbridge Investments LLC owned approximately 0.21% of Murphy Oil worth $11,923,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently bought and sold shares of MUR. Capital International Investors purchased a new stake in Murphy Oil during the 3rd quarter worth about $430,075,000. FMR LLC grew its holdings in Murphy Oil by 7.2% in the 2nd quarter. FMR LLC now owns 15,868,414 shares of the oil and gas producer’s stock valued at $535,876,000 after buying an additional 1,065,018 shares during the period. Vanguard Group Inc grew its holdings in Murphy Oil by 4.4% in the 3rd quarter. Vanguard Group Inc now owns 16,743,205 shares of the oil and gas producer’s stock valued at $558,218,000 after buying an additional 707,445 shares during the period. Vanguard Group Inc. grew its holdings in Murphy Oil by 4.4% in the 3rd quarter. Vanguard Group Inc. now owns 16,743,205 shares of the oil and gas producer’s stock valued at $558,218,000 after buying an additional 707,445 shares during the period. Finally, Wedge Capital Management L L P NC grew its holdings in Murphy Oil by 11.7% in the 3rd quarter. Wedge Capital Management L L P NC now owns 5,310,331 shares of the oil and gas producer’s stock valued at $177,046,000 after buying an additional 554,530 shares during the period. Hedge funds and other institutional investors own 86.81% of the company’s stock.
In other news, insider Kelli M. Hammock sold 2,595 shares of the business’s stock in a transaction that occurred on Friday, November 16th. The stock was sold at an average price of $31.56, for a total value of $81,898.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP John B. Gardner sold 7,113 shares of the business’s stock in a transaction that occurred on Friday, December 7th. The shares were sold at an average price of $29.98, for a total value of $213,247.74. The disclosure for this sale can be found here. Corporate insiders own 6.59% of the company’s stock.
Murphy Oil (NYSE:MUR) last announced its earnings results on Wednesday, November 7th. The oil and gas producer reported $0.35 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.01). Murphy Oil had a net margin of 0.86% and a return on equity of 3.77%. The business had revenue of $674.80 million during the quarter, compared to analyst estimates of $633.20 million. During the same period in the previous year, the company earned ($0.38) earnings per share. The business’s revenue for the quarter was up 35.4% on a year-over-year basis. Sell-side analysts expect that Murphy Oil Co. will post 1.4 earnings per share for the current fiscal year.
Several analysts have commented on MUR shares. Morgan Stanley restated a “sell” rating and issued a $30.00 price target (up previously from $24.00) on shares of Murphy Oil in a report on Friday, October 12th. Mizuho upgraded Murphy Oil from an “underperform” rating to a “neutral” rating and set a $41.00 price target for the company in a report on Friday, October 19th. Zacks Investment Research upgraded Murphy Oil from a “strong sell” rating to a “strong-buy” rating and set a $41.00 price target for the company in a report on Tuesday, October 16th. JPMorgan Chase & Co. set a $39.00 price target on Murphy Oil and gave the company a “hold” rating in a report on Friday, December 7th. Finally, Credit Suisse Group set a $36.00 price target on Murphy Oil and gave the company a “hold” rating in a report on Monday, December 3rd. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $35.31.
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About Murphy Oil
Murphy Oil Corporation operates as an oil and gas exploration and production company worldwide. 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. Murphy Oil Corporation was founded in 1950 and is headquartered in El Dorado, Arkansas.
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