Jennison Associates LLC Makes New $847,000 Investment in Murphy Oil Corporation $MUR

Jennison Associates LLC bought a new position in Murphy Oil Corporation (NYSE:MUR) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 20,539 shares of the oil and gas producer’s stock, valued at approximately $847,000.

Other hedge funds also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Murphy Oil by 1.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 84,061 shares of the oil and gas producer’s stock worth $2,387,000 after acquiring an additional 1,419 shares during the period. United Services Automobile Association acquired a new stake in Murphy Oil in the first quarter valued at about $265,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Murphy Oil by 22.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 249,094 shares of the oil and gas producer’s stock valued at $7,074,000 after purchasing an additional 45,841 shares during the period. Cetera Investment Advisers lifted its position in Murphy Oil by 9.8% in the second quarter. Cetera Investment Advisers now owns 31,471 shares of the oil and gas producer’s stock valued at $708,000 after purchasing an additional 2,819 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its holdings in Murphy Oil by 437.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,802 shares of the oil and gas producer’s stock valued at $86,000 after purchasing an additional 3,095 shares in the last quarter. Institutional investors and hedge funds own 78.31% of the company’s stock.

Wall Street Analyst Weigh In

MUR has been the subject of a number of analyst reports. KeyCorp raised Murphy Oil from a “sector weight” rating to an “overweight” rating and set a $48.00 target price for the company in a research note on Thursday, June 4th. Wells Fargo & Company lifted their price target on Murphy Oil from $32.00 to $38.00 and gave the company an “equal weight” rating in a research note on Thursday, March 26th. Mizuho upped their price objective on Murphy Oil from $39.00 to $44.00 and gave the stock a “neutral” rating in a report on Wednesday, May 27th. Wall Street Zen lowered Murphy Oil from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. Finally, Barclays increased their price objective on Murphy Oil from $36.00 to $43.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 26th. Three investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Murphy Oil presently has a consensus rating of “Hold” and a consensus target price of $38.33.

Murphy Oil Stock Up 4.0%

MUR stock opened at $38.78 on Thursday. The company has a current ratio of 0.83, a quick ratio of 0.77 and a debt-to-equity ratio of 0.30. The company’s 50-day moving average price is $36.33 and its 200 day moving average price is $35.84. Murphy Oil Corporation has a 52 week low of $21.86 and a 52 week high of $43.34. The company has a market cap of $5.56 billion, a P/E ratio of 65.74 and a beta of 0.52.

Murphy Oil (NYSE:MUR) last issued its earnings results on Wednesday, May 6th. The oil and gas producer reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.03. Murphy Oil had a net margin of 3.02% and a return on equity of 3.09%. The company had revenue of $732.35 million during the quarter, compared to analysts’ expectations of $702.96 million. During the same period last year, the company posted $0.56 earnings per share. The firm’s quarterly revenue was up 9.0% compared to the same quarter last year. On average, research analysts expect that Murphy Oil Corporation will post 3.09 earnings per share for the current fiscal year.

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.