The Vanguard Group, Inc. recently announced the acquisition of new stake in Murphy Oil Corporation (NYSE:MUR). The institutional investor has increased its shareholding in the Energy company by 2.37% to 15.81 million shares with purchase of 0.37 million shares. This fresh investment now brings its stake to 10.15% valued currently at $580.5 million. In addition, SSgA Funds Management, Inc. raised its holdings by 0.2 million to 6.99 million shares. And Geode Capital Management LLC has lifted its position by 1.81% or 48261.0 shares – to 2.71 million shares.
With over 1.73 million Murphy Oil Corporation (MUR) shares trading Friday and a closing price of $35.08 on the day, the dollar volume was approximately $60.52 million. The shares have shown a negative half year performance of -27.05% and its price on 05/19/23 lost nearly -1.04%. Currently, there are 155.86M common shares owned by the public and among those 146.50M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 18 analysts who have offered their price forecasts for MUR have a consensus price objective of $48.29. The analysts have set the share’s price value over the next 12 months at a high of $65.00 and a low of $39.00. The average price target is 26.81% above its recent price level and an upside to the estimated low will see the stock gain 10.05% over that period. But an upside of 46.03% will see the stock hit the forecast high price target while median target price for the stock is $46.00.
Insiders at the company have transacted a total of 101 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 44 of these insider trades were purchases, accounting for 924,392 shares. Insider sales of the common stock occurred on 57 occasions, with total insider shares sold totaling 1,089,080 shares.
The top 3 mutual fund holders in Murphy Oil Corporation are Vanguard Total Stock Market ETF, iShares Core S&P Mid Cap ETF, and Vanguard Small Cap Index Fund. Vanguard Total Stock Market ETF owns 4.57 million shares of the company’s stock, all valued at over $167.78 million. The company bought an additional 22969.0 shares recently to bring their total holdings to about 2.93% of the shares outstanding. iShares Core S&P Mid Cap ETF bought 16290.0 shares to see its total holdings expand to 4.56 million shares valued at over $167.4 million and representing 2.93% of the shares outstanding. Vanguard Small Cap Index Fund bought 15854.0 shares to bring its total holdings to over 3.86 million shares at a value of $141.87 million. Vanguard Small Cap Index Fund now owns shares totaling to 2.48% of the shares outstanding.
Shares of Murphy Oil Corporation (NYSE: MUR) opened at $35.83, up $0.38 from a prior closing price of $35.45. However, the script later moved the day high at 36.03, down -1.04%. The company’s stock has a 5-day price change of 5.41% and -11.26% over the past three months. MUR shares are trading -18.44% year to date (YTD), with the 12-month market performance up to 2.07% higher. It has a 12-month low price of $25.97 and touched a high of $51.28 over the same period. MUR has an average intraday trading volume of 1.66 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 0.37%, -3.05%, and -12.96% respectively.
Institutional ownership of Murphy Oil Corporation (NYSE: MUR) shares accounts for 80.00% of the company’s 155.86M shares outstanding. Mutual fund holders own 46.27%, while other institutional holders and individual stakeholders account for 7.27% and 26.65% respectively.
It has a market capitalization of $5.53B and a beta (3y monthly) value of 2.37. The stock’s trailing 12-month PE ratio is 4.34, while the earnings-per-share (ttm) stands at $8.07. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.38% over the week and 3.66% over the month.
Analysts forecast that Murphy Oil Corporation (MUR) will achieve an EPS of $1.07 for the current quarter, $1.35 for the next quarter and $6.03 for 2024. The lowest estimate earnings-per-share for the quarter is $0.56 while analysts give the company a high EPS estimate of $1.55. Comparatively, EPS for the current quarter was $1.93 a year ago. Earnings per share for the fiscal year are expected to decrease by -7.50%, and 16.66% over the next financial year. EPS should shrink at an annualized rate of -4.34% over the next five years, compared to 42.10% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 18 brokerage firm advisors rate Murphy Oil Corporation (MUR) as a “Moderate Buy” at a consensus score of 2.50. Specifically, 7 Wall Street analysts polled rate the stock as a buy, while 10 of the 18 advise that investors “hold,” and 0 rated it as a “Sell.”
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