Murphy Oil (NYSE:MUR) PT Lowered to $39.00

Murphy Oil (NYSE:MUR) had its price objective cut by equities research analysts at The Goldman Sachs Group from $44.00 to $39.00 in a report released on Monday, Benzinga reports. The firm presently has a “neutral” rating on the oil and gas producer’s stock. The Goldman Sachs Group’s price target indicates a potential upside of 12.13% from the company’s previous close.

Several other research analysts have also recently issued reports on the stock. Wells Fargo & Company cut their price target on shares of Murphy Oil from $41.00 to $39.00 and set an “equal weight” rating for the company in a report on Friday, September 27th. Piper Sandler cut 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. JPMorgan Chase & Co. decreased their price target on Murphy Oil from $47.00 to $39.00 and set a “neutral” rating on the stock in a research note on Thursday, September 12th. Morgan Stanley cut their price objective on Murphy Oil from $43.00 to $39.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. Finally, StockNews.com downgraded Murphy Oil from a “buy” rating to a “hold” rating in a report on Tuesday, June 18th. Ten investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $42.38.

Murphy Oil Trading Down 3.6 %

NYSE:MUR opened at $34.78 on Monday. Murphy Oil has a 12-month low of $32.53 and a 12-month high of $49.14. The company has a current ratio of 0.82, a quick ratio of 0.76 and a debt-to-equity ratio of 0.23. The stock’s 50 day simple moving average is $36.16 and its 200-day simple moving average is $40.57. The firm has a market cap of $5.31 billion, a P/E ratio of 9.69 and a beta of 2.20.

Murphy Oil (NYSE:MUR) last announced its quarterly earnings data on Thursday, August 8th. The oil and gas producer reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.08. The company had revenue of $802.80 million for the quarter, compared to analysts’ expectations of $813.97 million. Murphy Oil had a net margin of 17.32% and a return on equity of 11.68%. Murphy Oil’s revenue was down 1.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.79 EPS. Equities analysts anticipate that Murphy Oil will post 3.57 EPS for the current year.

Institutional Trading of Murphy Oil

Several large investors have recently modified their holdings of MUR. Assenagon Asset Management S.A. lifted its stake in Murphy Oil by 90.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,092,374 shares of the oil and gas producer’s stock valued at $45,050,000 after buying an additional 518,904 shares in the last quarter. Invenomic Capital Management LP acquired a new position in shares of Murphy Oil in the fourth quarter worth $16,349,000. Squarepoint Ops LLC lifted its position in shares of Murphy Oil by 92.1% in the second quarter. Squarepoint Ops LLC now owns 687,254 shares of the oil and gas producer’s stock valued at $28,342,000 after acquiring an additional 329,521 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Murphy Oil by 3.3% during the second quarter. Dimensional Fund Advisors LP now owns 8,254,125 shares of the oil and gas producer’s stock valued at $340,400,000 after acquiring an additional 262,256 shares during the last quarter. Finally, HITE Hedge Asset Management LLC boosted its stake in shares of Murphy Oil by 83.3% during the second quarter. HITE Hedge Asset Management LLC now owns 545,926 shares of the oil and gas producer’s stock valued at $22,514,000 after acquiring an additional 248,134 shares during the last quarter. 78.31% of the stock is currently owned by institutional investors and hedge funds.

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.