KeyCorp Cuts Murphy Oil (NYSE:MUR) Price Target to $37.00

Murphy Oil (NYSE:MUR) had its target price lowered by investment analysts at KeyCorp from $50.00 to $37.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has an “overweight” rating on the oil and gas producer’s stock. KeyCorp’s target price points to a potential upside of 39.23% from the company’s previous close.

A number of other analysts have also commented on MUR. The Goldman Sachs Group cut their price target on Murphy Oil from $44.00 to $39.00 and set a “neutral” rating on the stock in a research note on Monday, October 7th. Mizuho reduced their target price on shares of Murphy Oil from $50.00 to $45.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Scotiabank cut their price target on shares of Murphy Oil from $47.00 to $36.00 and set a “sector perform” rating on the stock in a report on Thursday, October 10th. Piper Sandler decreased their price objective on Murphy Oil from $39.00 to $35.00 and set an “overweight” rating for the company in a report on Wednesday, January 29th. Finally, Morgan Stanley reiterated an “underweight” rating and issued a $37.00 target price on shares of Murphy Oil in a report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Murphy Oil has an average rating of “Hold” and a consensus price target of $36.75.

Murphy Oil Stock Performance

MUR opened at $26.57 on Monday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.77 and a current ratio of 0.83. Murphy Oil has a 52-week low of $26.47 and a 52-week high of $49.14. The firm has a market cap of $3.88 billion, a P/E ratio of 9.88 and a beta of 2.14. The business’s fifty day moving average is $30.72 and its 200-day moving average is $33.78.

Murphy Oil (NYSE:MUR) last issued its earnings results on Thursday, January 30th. The oil and gas producer reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.27). Murphy Oil had a net margin of 13.44% and a return on equity of 7.66%. During the same quarter last year, the business posted $0.90 earnings per share. Sell-side analysts expect that Murphy Oil will post 3.33 EPS for the current fiscal year.

Institutional Trading of Murphy Oil

Hedge funds have recently bought and sold shares of the company. Creative Planning grew its stake in shares of Murphy Oil by 15.9% during the 2nd quarter. Creative Planning now owns 36,892 shares of the oil and gas producer’s stock valued at $1,521,000 after purchasing an additional 5,068 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in Murphy Oil by 16.2% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,140 shares of the oil and gas producer’s stock valued at $129,000 after buying an additional 438 shares during the last quarter. Cetera Investment Advisers raised its position in Murphy Oil by 4.3% in the second quarter. Cetera Investment Advisers now owns 38,804 shares of the oil and gas producer’s stock worth $1,600,000 after acquiring an additional 1,609 shares during the period. CWM LLC boosted its stake in shares of Murphy Oil by 92.1% during the 3rd quarter. CWM LLC now owns 6,266 shares of the oil and gas producer’s stock worth $211,000 after acquiring an additional 3,005 shares during the last quarter. Finally, Bruce G. Allen Investments LLC grew its position in shares of Murphy Oil by 106.5% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 1,470 shares of the oil and gas producer’s stock valued at $50,000 after acquiring an additional 758 shares during the period. Hedge funds and other institutional investors own 78.31% of the company’s stock.

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.