Murphy Oil Corporation (NYSE:MUR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Monday, October 30th.
According to Zacks, “Year to date loss in Murphy's shares were narrower than the industry. Murphy Oil’s systematic capital investments and cost savings initiatives pave the way for its long-term growth. Steady production from its balanced global portfolio is enabling it to maintain production level despite a substantial reduction in capital expenditure for the year. Additionally, the company has undertaken cost-saving initiatives which have already made a positive impact and are likely to bring further benefits. However, volatile commodity prices an a highly competitive oil and gas industry are headwinds for the company. Additionally, with operations outside the U.S., the company is also subject to changes in foreign currency conversion rates, which may adversely impact its earnings from these oilfields that are likely to affect the performance of the company.”
Other analysts have also issued research reports about the stock. Barclays PLC lowered shares of Murphy Oil Corporation from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $38.00 to $29.00 in a research report on Tuesday, July 11th. BidaskClub lowered shares of Murphy Oil Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Morgan Stanley raised their price target on shares of Murphy Oil Corporation from $23.00 to $26.00 and gave the company an “underweight” rating in a research report on Wednesday, October 18th. Scotiabank set a $27.00 price target on shares of Murphy Oil Corporation and gave the company a “hold” rating in a research report on Friday, August 11th. Finally, Piper Jaffray Companies restated a “hold” rating and set a $31.00 price target on shares of Murphy Oil Corporation in a research report on Thursday, August 10th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $30.27.
Shares of Murphy Oil Corporation (MUR) opened at $27.99 on Monday. Murphy Oil Corporation has a 52 week low of $22.21 and a 52 week high of $35.19. The company has a current ratio of 1.74, a quick ratio of 1.60 and a debt-to-equity ratio of 0.58.
Murphy Oil Corporation (NYSE:MUR) last released its quarterly earnings data on Wednesday, November 1st. The oil and gas producer reported ($0.03) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.14) by $0.11. The firm had revenue of $498.31 million for the quarter, compared to analyst estimates of $460.17 million. Murphy Oil Corporation had a negative net margin of 4.15% and a negative return on equity of 1.25%. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.18) earnings per share. equities research analysts expect that Murphy Oil Corporation will post -0.2 EPS for the current year.
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In other Murphy Oil Corporation news, Director Robert Madison Murphy sold 6,325 shares of the stock in a transaction on Monday, November 6th. The shares were sold at an average price of $28.55, for a total transaction of $180,578.75. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders have acquired 76,000 shares of company stock worth $17,750. Insiders own 6.89% of the company’s stock.
Large investors have recently bought and sold shares of the company. Advisor Group Inc. lifted its stake in shares of Murphy Oil Corporation by 8.0% in the second quarter. Advisor Group Inc. now owns 4,071 shares of the oil and gas producer’s stock worth $105,000 after buying an additional 301 shares in the last quarter. Daiwa Securities Group Inc. lifted its stake in shares of Murphy Oil Corporation by 24.6% in the second quarter. Daiwa Securities Group Inc. now owns 4,860 shares of the oil and gas producer’s stock worth $125,000 after buying an additional 960 shares in the last quarter. Murphy Pohlad Asset Management LLC purchased a new position in shares of Murphy Oil Corporation in the third quarter worth about $216,000. OppenheimerFunds Inc. lifted its stake in shares of Murphy Oil Corporation by 22.5% in the first quarter. OppenheimerFunds Inc. now owns 8,204 shares of the oil and gas producer’s stock worth $235,000 after buying an additional 1,505 shares in the last quarter. Finally, ING Groep NV lifted its stake in shares of Murphy Oil Corporation by 0.5% in the second quarter. ING Groep NV now owns 8,313 shares of the oil and gas producer’s stock worth $213,000 after buying an additional 39 shares in the last quarter. 98.46% of the stock is currently owned by hedge funds and other institutional investors.
About Murphy Oil Corporation
Murphy Oil Corporation (Murphy) is an oil and gas exploration and production company. The Company’s exploration and production business explores for and produces crude oil, natural gas and natural gas liquids across the world. Its exploration and production activities are subdivided into four geographic segments: the United States, Canada, Malaysia and all other countries.
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