Murphy Oil (NYSE:MUR) Price Target Cut to $49.00

Murphy Oil (NYSE:MURGet Free Report) had its price target reduced by equities researchers at Piper Sandler from $50.00 to $49.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the oil and gas producer’s stock. Piper Sandler’s target price would indicate a potential upside of 26.65% from the company’s previous close.

A number of other analysts have also weighed in on the stock. Truist Financial reiterated a “buy” rating and issued a $57.00 price objective on shares of Murphy Oil in a research note on Tuesday, November 28th. UBS Group reduced their price objective on Murphy Oil from $45.00 to $43.00 and set a “neutral” rating for the company in a research note on Monday. Evercore ISI upped their target price on Murphy Oil from $39.00 to $41.00 in a research note on Thursday, October 12th. Morgan Stanley lifted their price target on Murphy Oil from $46.00 to $48.00 and gave the company an “equal weight” rating in a research report on Monday, October 2nd. Finally, KeyCorp decreased their price target on Murphy Oil from $53.00 to $50.00 and set an “overweight” rating for the company in a report on Thursday, January 11th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Murphy Oil presently has a consensus rating of “Moderate Buy” and a consensus target price of $46.90.

Get Our Latest Research Report on MUR

Murphy Oil Price Performance

Shares of MUR opened at $38.69 on Tuesday. The company’s fifty day moving average price is $41.19 and its 200-day moving average price is $43.28. Murphy Oil has a 1-year low of $32.80 and a 1-year high of $48.47. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.89 and a quick ratio of 0.82. The firm has a market capitalization of $5.98 billion, a PE ratio of 9.17 and a beta of 2.22.

Murphy Oil (NYSE:MURGet Free Report) last announced its quarterly earnings data on Thursday, January 25th. The oil and gas producer reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.00 by ($0.10). The firm had revenue of $844.20 million during the quarter, compared to analysts’ expectations of $852.24 million. Murphy Oil had a return on equity of 13.02% and a net margin of 19.12%. The company’s revenue for the quarter was down 13.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.10 earnings per share. On average, equities research analysts predict that Murphy Oil will post 4.56 EPS for the current year.

Institutional Trading of Murphy Oil

Institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. boosted its holdings in Murphy Oil by 9.6% in the 2nd quarter. BlackRock Inc. now owns 20,022,597 shares of the oil and gas producer’s stock worth $766,865,000 after buying an additional 1,758,945 shares during the last quarter. Vanguard Group Inc. raised its stake in Murphy Oil by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 16,816,692 shares of the oil and gas producer’s stock valued at $762,637,000 after purchasing an additional 137,059 shares during the last quarter. State Street Corp lifted its holdings in Murphy Oil by 4.9% in the 1st quarter. State Street Corp now owns 7,815,843 shares of the oil and gas producer’s stock valued at $315,682,000 after purchasing an additional 365,686 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Murphy Oil by 2.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,714,683 shares of the oil and gas producer’s stock worth $295,478,000 after purchasing an additional 168,220 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Murphy Oil by 6.2% during the second quarter. Geode Capital Management LLC now owns 2,980,347 shares of the oil and gas producer’s stock worth $114,147,000 after buying an additional 173,730 shares during the last quarter. Hedge funds and other institutional investors own 79.30% of the company’s stock.

Murphy Oil Company Profile

(Get Free Report)

Murphy Oil Corporation, together with its subsidiaries, operates as an oil and natural 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.

See Also

Analyst Recommendations for Murphy Oil (NYSE:MUR)

Receive News & Ratings for Murphy Oil Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Murphy Oil and related companies with MarketBeat.com's FREE daily email newsletter.