Scotiabank Cuts Murphy Oil (NYSE:MUR) Price Target to $47.00

Murphy Oil (NYSE:MUR) had its target price lowered by equities researchers at Scotiabank from $50.00 to $47.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has a “sector outperform” rating on the oil and gas producer’s stock. Scotiabank’s target price would suggest a potential upside of 13.58% from the stock’s previous close.

Other research analysts have also recently issued research reports about the company. Roth Mkm reaffirmed a “buy” rating on shares of Murphy Oil in a research report on Wednesday, March 20th. Truist Financial lifted their target price on Murphy Oil from $58.00 to $59.00 and gave the company a “buy” rating in a research report on Friday, April 5th. JPMorgan Chase & Co. lifted their target price on Murphy Oil from $51.00 to $52.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. Mizuho boosted their price objective on Murphy Oil from $55.00 to $59.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. Finally, Barclays assumed coverage on Murphy Oil in a research report on Wednesday, April 10th. They issued an “equal weight” rating and a $54.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Murphy Oil presently has an average rating of “Moderate Buy” and a consensus target price of $50.73.

Murphy Oil Stock Up 0.3 %

Shares of NYSE MUR traded up $0.11 during midday trading on Friday, hitting $41.38. 802,832 shares of the stock traded hands, compared to its average volume of 1,634,518. The company has a market cap of $6.31 billion, a PE ratio of 11.53 and a beta of 2.25. Murphy Oil has a one year low of $36.95 and a one year high of $49.14. The business has a 50 day moving average price of $41.49 and a two-hundred day moving average price of $41.94. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.87 and a current ratio of 0.93.

Murphy Oil (NYSE:MUR) last released its quarterly earnings data on Thursday, May 2nd. The oil and gas producer reported $0.85 EPS for the quarter, beating the consensus estimate of $0.82 by $0.03. The firm had revenue of $794.80 million during the quarter, compared to the consensus estimate of $750.94 million. Murphy Oil had a return on equity of 11.75% and a net margin of 16.40%. The company’s quarterly revenue was down 5.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.24 earnings per share. On average, equities analysts predict that Murphy Oil will post 4.23 EPS for the current year.

Institutional Trading of Murphy Oil

A number of hedge funds and other institutional investors have recently made changes to their positions in MUR. Mather Group LLC. raised its stake in shares of Murphy Oil by 1,015.7% during the 2nd quarter. Mather Group LLC. now owns 569 shares of the oil and gas producer’s stock valued at $26,000 after purchasing an additional 518 shares during the period. Bruce G. Allen Investments LLC bought a new stake in shares of Murphy Oil during the 4th quarter valued at $29,000. Rise Advisors LLC bought a new stake in shares of Murphy Oil during the 1st quarter valued at $30,000. Lindbrook Capital LLC raised its stake in shares of Murphy Oil by 47.7% during the 1st quarter. Lindbrook Capital LLC now owns 721 shares of the oil and gas producer’s stock valued at $33,000 after purchasing an additional 233 shares during the period. Finally, Headinvest LLC bought a new stake in shares of Murphy Oil during the 3rd quarter valued at $70,000. 78.31% of the stock is currently owned by institutional investors.

Murphy Oil Company Profile

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.