Murphy Oil (NYSE:MUR) Price Target Lowered to $50.00 at KeyCorp

Murphy Oil (NYSE:MUR) had its price objective lowered by analysts at KeyCorp from $54.00 to $50.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the oil and gas producer’s stock. KeyCorp’s price objective suggests a potential upside of 50.88% from the stock’s current price.

A number of other analysts have also weighed in on MUR. Truist Financial reduced their price objective on shares of Murphy Oil from $55.00 to $42.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. The Goldman Sachs Group reduced their price objective on shares of Murphy Oil from $44.00 to $39.00 and set a “neutral” rating on the stock in a research report on Monday, October 7th. StockNews.com lowered shares of Murphy Oil from a “buy” rating to a “hold” rating in a research report on Tuesday, June 18th. Piper Sandler reduced their target price on shares of Murphy Oil from $44.00 to $43.00 and set an “overweight” rating on the stock in a research report on Tuesday. Finally, Wells Fargo & Company reduced their target price on shares of Murphy Oil from $41.00 to $39.00 and set an “equal weight” rating on the stock in a research report on Friday, September 27th. Ten research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Murphy Oil currently has an average rating of “Hold” and an average price target of $41.17.

Murphy Oil Stock Up 1.2 %

Shares of NYSE MUR opened at $33.14 on Wednesday. The company has a current ratio of 0.82, a quick ratio of 0.76 and a debt-to-equity ratio of 0.23. Murphy Oil has a 12-month low of $32.53 and a 12-month high of $49.14. The stock has a market capitalization of $5.06 billion, a price-to-earnings ratio of 9.23 and a beta of 2.20. The firm’s 50-day moving average price is $35.67 and its 200-day moving average price is $40.10.

Murphy Oil (NYSE:MUR) last posted its quarterly earnings data on Thursday, August 8th. The oil and gas producer reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.08. Murphy Oil had a net margin of 17.32% and a return on equity of 11.68%. The company had revenue of $802.80 million for the quarter, compared to analyst estimates of $813.97 million. During the same period in the prior year, the company posted $0.79 EPS. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. On average, equities research analysts anticipate that Murphy Oil will post 3.47 EPS for the current fiscal year.

Institutional Investors Weigh In On Murphy Oil

Several institutional investors have recently bought and sold shares of MUR. Mather Group LLC. lifted its stake in shares of Murphy Oil by 1,015.7% during the second quarter. Mather Group LLC. now owns 569 shares of the oil and gas producer’s stock worth $26,000 after buying an additional 518 shares during the period. Rise Advisors LLC acquired a new stake in shares of Murphy Oil during the first quarter worth $30,000. Compass Wealth Management LLC acquired a new stake in shares of Murphy Oil during the third quarter worth $42,000. Headlands Technologies LLC lifted its stake in shares of Murphy Oil by 1,434.5% during the second quarter. Headlands Technologies LLC now owns 1,289 shares of the oil and gas producer’s stock worth $53,000 after buying an additional 1,205 shares during the period. Finally, Bruce G. Allen Investments LLC lifted its stake in shares of Murphy Oil by 106.5% during the third quarter. Bruce G. Allen Investments LLC now owns 1,470 shares of the oil and gas producer’s stock worth $50,000 after buying an additional 758 shares during the period. 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.