Murphy Oil (NYSE:MUR) Price Target Cut to $38.00

Murphy Oil (NYSE:MUR) had its target price dropped by stock analysts at Barclays from $46.00 to $38.00 in a report released on Thursday, Benzinga reports. The brokerage currently has an “equal weight” rating on the oil and gas producer’s stock. Barclays‘s price objective would indicate a potential upside of 5.41% from the stock’s previous close.

A number of other research analysts also recently commented on MUR. StockNews.com downgraded Murphy Oil from a “buy” rating to a “hold” rating in a research note on Tuesday, June 18th. Mizuho dropped their price target on Murphy Oil from $59.00 to $50.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. UBS Group dropped their price target on Murphy Oil from $45.00 to $39.00 and set a “neutral” rating for the company in a research note on Wednesday, September 18th. Wolfe Research assumed coverage on Murphy Oil in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. Finally, Piper Sandler lowered their target price on Murphy Oil from $54.00 to $44.00 and set an “overweight” rating for the company in a research note on Thursday, August 15th. Nine analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $42.67.

Murphy Oil Trading Up 1.2 %

Shares of Murphy Oil stock opened at $36.05 on Thursday. The firm has a 50-day moving average of $36.44 and a 200-day moving average of $40.80. The stock has a market cap of $5.50 billion, a PE ratio of 10.04 and a beta of 2.19. Murphy Oil has a 52-week low of $32.53 and a 52-week high of $49.14. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.76 and a current ratio of 0.82.

Murphy Oil (NYSE:MUR) last posted its quarterly earnings results on Thursday, August 8th. The oil and gas producer reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.08. The business had revenue of $802.80 million during the quarter, compared to the consensus estimate of $813.97 million. Murphy Oil had a return on equity of 11.68% and a net margin of 17.32%. Murphy Oil’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.79 earnings per share. As a group, sell-side analysts forecast that Murphy Oil will post 3.57 EPS for the current year.

Institutional Trading of Murphy Oil

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Mather Group LLC. boosted its holdings in Murphy Oil by 1,015.7% in the second quarter. Mather Group LLC. now owns 569 shares of the oil and gas producer’s stock valued at $26,000 after acquiring an additional 518 shares during the last quarter. Rise Advisors LLC bought a new stake in Murphy Oil in the first quarter valued at approximately $30,000. Headlands Technologies LLC boosted its holdings in Murphy Oil by 1,434.5% in the second quarter. Headlands Technologies LLC now owns 1,289 shares of the oil and gas producer’s stock valued at $53,000 after acquiring an additional 1,205 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its holdings in Murphy Oil by 27.0% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 2,105 shares of the oil and gas producer’s stock valued at $96,000 after acquiring an additional 447 shares during the last quarter. Finally, Signaturefd LLC boosted its holdings in Murphy Oil by 14.5% in the second quarter. Signaturefd LLC now owns 2,441 shares of the oil and gas producer’s stock valued at $101,000 after acquiring an additional 310 shares during the last quarter. 78.31% of the stock is currently owned by institutional investors.

About Murphy Oil

Murphy Oil Corporation, together with its subsidiaries, operates as an oil and gas exploration and production company in the United States, Canada, and internationally. 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.