The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Murphy Oil Corporation shares valued at $455,760 were sold by BOTNER E TED on Jun 09. At $45.00 per share, BOTNER E TED sold 10,128 shares. The insider’s holdings dropped to 68,864 shares worth approximately $2.24 million following the completion of this transaction.
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Also, DICKERSON LAWRENCE R sold 4,614 shares, netting a total of over 201,632 in proceeds. Following the sale of shares at $43.70 each, the insider now holds 43,626 shares.
Before that, Jenkins Roger W. had sold 225,000 shares from its account. In a trade valued at $9,689,062, the President & CEO traded Murphy Oil Corporation shares for $43.06 each. Upon closing the transaction, the insider’s holdings decreased to 225,000 shares, worth approximately $26.45 million.
Analysts at JP Morgan downgraded the stock from ‘”an Overweight”‘ to ‘”a Neutral”‘ outlook in a report released in early May. As of April 07, 2022, Piper Sandler has increased its “Neutral” rating to a “an Overweight” for MUR. Earlier on February 11, 2022, Mizuho upgraded its rating. Their new recommendation was “a Buy” for MUR stock which previously was a “a Neutral”.
Analyzing MUR’s Price Performance
On Thursday, Murphy Oil Corporation [NYSE: MUR] rose 1.31% to $32.47. The stock’s lowest price that day was $31.81, but it reached a high of $34.125 in the same session. During the last five days, there has been a drop of approximately -2.78%. Over the course of the year, Murphy Oil Corporation shares have jumped approximately 24.36%. Shares of the company reached a 52-week high of $45.79 on 06/08/22 and a 52-week low of $25.97 on 07/14/22. A 50-day SMA is recorded $34.83, while a 200-day SMA reached $33.40. Nevertheless, trading volume fell to 3.21 million shares from 2.27 million shares the previous day.
Support And Resistance Levels for Murphy Oil Corporation (MUR)
According to the 24-hour chart, there is a support level at 31.48, which, if violated, would cause prices to drop to 30.49. In the upper region, resistance lies at 33.79. The next price resistance is at 35.12. RSI (Relative Strength Index) is 50.11 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.58, which suggests the price will decrease in the coming days. Percent R is at 45.25%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Murphy Oil Corporation subject to short interest?
Stocks of Murphy Oil Corporation saw a sharp rise in short interest on Jul 14, 2022 jumping by 0.9 million shares to 8.1 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 7.2 million shares. A jump of 11.11% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 3.59 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.59.
Which companies own the most shares of Murphy Oil Corporation (MUR)?
According to Fidelity Management & Research Co filings, the company currently owns 22,106,310 shares, which is about 14.23% of the total MUR shares outstanding. The investor’s shares have plunged by -360,276 from its previous 13-F filing of 22466586.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $465,372,812. The Vanguard Group, Inc. acquire a 1.07% interest valued at $450.06 million while Dimensional Fund Advisors LP purchased a 276,213 stake. A total of 365,686 shares of Murphy Oil Corporation were bought by SSgA Funds Management, Inc. during the quarter, and 2,225,835 were bought by Hotchkis & Wiley Capital Manageme. In its current portfolio, Geode Capital Management LLC holds 2,643,733 shares valued at $79.81 million.
In terms of Murphy Oil Corporation share price expectations, FactSet research, analysts set an average price target of $47.00 in the next 12 months, up nearly 52.89% from the previous closing price of $32.05. Analysts anticipate Murphy Oil Corporation stock to reach $61.00 by 2022, with the lowest price target being $34.00. In spite of this, 17 analysts ranked Murphy Oil Corporation stock as an Overweight at the end of 2022.