Murphy Oil Co. (MUR) Short Interest Down 14.3% in December

Murphy Oil Co. (NYSE:MUR) was the recipient of a large decrease in short interest in December. As of December 15th, there was short interest totalling 28,726,057 shares, a decrease of 14.3% from the November 30th total of 33,519,835 shares. Currently, 17.7% of the company’s shares are sold short. Based on an average daily volume of 2,137,821 shares, the days-to-cover ratio is currently 13.4 days.

Several analysts have issued reports on MUR shares. Zacks Investment Research raised shares of Murphy Oil from a “hold” rating to a “buy” rating and set a $28.00 price objective for the company in a research report on Friday, October 27th. Cowen reaffirmed a “hold” rating and issued a $30.00 price objective on shares of Murphy Oil in a research report on Sunday, September 17th. Credit Suisse Group started coverage on shares of Murphy Oil in a research report on Monday, December 11th. They issued a “neutral” rating and a $30.00 price objective for the company. Finally, Morgan Stanley increased their price objective on shares of Murphy Oil from $23.00 to $26.00 and gave the company an “underweight” rating in a research report on Wednesday, October 18th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. Murphy Oil has a consensus rating of “Hold” and an average price target of $29.91.

In other Murphy Oil news, VP John B. Gardner sold 3,783 shares of the stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $27.84, for a total value of $105,318.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert Madison Murphy sold 6,325 shares of the stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $28.55, for a total transaction of $180,578.75. The disclosure for this sale can be found here. In the last three months, insiders have purchased 76,500 shares of company stock valued at $17,850. Corporate insiders own 6.89% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Utah Retirement Systems grew its position in shares of Murphy Oil by 0.3% during the second quarter. Utah Retirement Systems now owns 29,842 shares of the oil and gas producer’s stock worth $765,000 after buying an additional 100 shares in the last quarter. Sentry Investment Management LLC grew its position in shares of Murphy Oil by 1.0% during the second quarter. Sentry Investment Management LLC now owns 12,549 shares of the oil and gas producer’s stock worth $322,000 after buying an additional 127 shares in the last quarter. Advisor Group Inc. lifted its stake in Murphy Oil by 8.0% during the second quarter. Advisor Group Inc. now owns 4,071 shares of the oil and gas producer’s stock worth $105,000 after purchasing an additional 301 shares during the last quarter. M&T Bank Corp lifted its stake in Murphy Oil by 2.7% during the second quarter. M&T Bank Corp now owns 17,960 shares of the oil and gas producer’s stock worth $460,000 after purchasing an additional 474 shares during the last quarter. Finally, Earnest Partners LLC lifted its stake in Murphy Oil by 1.0% during the second quarter. Earnest Partners LLC now owns 57,686 shares of the oil and gas producer’s stock worth $1,478,000 after purchasing an additional 563 shares during the last quarter. 96.79% of the stock is owned by institutional investors and hedge funds.

Shares of Murphy Oil (NYSE MUR) opened at $33.05 on Friday. Murphy Oil has a 1 year low of $22.21 and a 1 year high of $33.09. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.60 and a current ratio of 1.74. The firm has a market cap of $5,700.00, a P/E ratio of -63.56 and a beta of 2.29.

Murphy Oil (NYSE:MUR) last released its quarterly earnings results on Wednesday, November 1st. The oil and gas producer reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.11. Murphy Oil had a negative net margin of 4.15% and a negative return on equity of 1.25%. The business had revenue of $498.31 million during the quarter, compared to the consensus estimate of $460.17 million. During the same quarter last year, the company earned ($0.18) earnings per share. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. research analysts expect that Murphy Oil will post -0.23 EPS for the current fiscal year.

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About Murphy Oil

Murphy Oil Corporation (Murphy) is an oil and gas exploration and production company. The Company’s exploration and production business explores for and produces crude oil, natural gas and natural gas liquids across the world. Its exploration and production activities are subdivided into four geographic segments: the United States, Canada, Malaysia and all other countries.

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