Murphy Oil (NYSE:MUR) Price Target Lowered to $22.00 at Scotiabank

Murphy Oil (NYSE:MUR) had its price target dropped by stock analysts at Scotiabank from $36.00 to $22.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “sector perform” rating on the oil and gas producer’s stock. Scotiabank’s price objective would indicate a potential upside of 5.29% from the company’s previous close.

Other equities analysts also recently issued research reports about the company. Wells Fargo & Company reiterated an “equal weight” rating on shares of Murphy Oil in a report on Monday, February 3rd. UBS Group lowered their target price on shares of Murphy Oil from $28.00 to $23.00 and set a “neutral” rating on the stock in a research note on Monday, April 7th. Roth Capital set a $37.00 target price on shares of Murphy Oil in a research report on Thursday, January 23rd. Mizuho lowered their price target on Murphy Oil from $50.00 to $45.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Finally, Piper Sandler cut their price objective on Murphy Oil from $35.00 to $34.00 and set an “overweight” rating for the company in a research report on Thursday, March 6th. One analyst has rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Murphy Oil presently has a consensus rating of “Hold” and a consensus price target of $33.15.

Murphy Oil Stock Up 4.6 %

MUR stock opened at $20.90 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.77 and a debt-to-equity ratio of 0.24. The firm has a market cap of $2.98 billion, a PE ratio of 7.77 and a beta of 1.68. Murphy Oil has a 1 year low of $18.95 and a 1 year high of $48.64. The company has a fifty day simple moving average of $26.03 and a 200 day simple moving average of $29.78.

Murphy Oil (NYSE:MUR) last announced its quarterly 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 return on equity of 7.66% and a net margin of 13.44%. During the same period last year, the firm posted $0.90 earnings per share. Sell-side analysts anticipate that Murphy Oil will post 2.94 EPS for the current fiscal year.

Insider Buying and Selling

In other Murphy Oil news, Director Claiborne P. Deming acquired 50,000 shares of Murphy Oil stock in a transaction dated Tuesday, February 4th. The stock was bought at an average cost of $26.47 per share, with a total value of $1,323,500.00. Following the acquisition, the director now owns 931,651 shares of the company’s stock, valued at approximately $24,660,801.97. The trade was a 5.67 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Meenambigai Palanivelu bought 1,573 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was acquired at an average cost of $26.70 per share, for a total transaction of $41,999.10. Following the purchase, the vice president now owns 37,065 shares of the company’s stock, valued at $989,635.50. This trade represents a 4.43 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 5.92% of the stock is owned by company insiders.

Institutional Trading of Murphy Oil

Institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC raised its stake in Murphy Oil by 1.3% during the third quarter. Geode Capital Management LLC now owns 3,548,711 shares of the oil and gas producer’s stock worth $119,755,000 after acquiring an additional 45,432 shares in the last quarter. LSV Asset Management grew its holdings in shares of Murphy Oil by 4.3% in the 4th quarter. LSV Asset Management now owns 2,807,277 shares of the oil and gas producer’s stock worth $84,948,000 after purchasing an additional 114,656 shares during the last quarter. Northern Trust Corp increased its position in shares of Murphy Oil by 5.1% during the 4th quarter. Northern Trust Corp now owns 2,234,585 shares of the oil and gas producer’s stock worth $67,619,000 after purchasing an additional 107,871 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of Murphy Oil by 61.9% during the 4th quarter. Ameriprise Financial Inc. now owns 2,147,590 shares of the oil and gas producer’s stock worth $64,986,000 after purchasing an additional 821,427 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Murphy Oil by 0.7% in the fourth quarter. Bank of New York Mellon Corp now owns 1,857,702 shares of the oil and gas producer’s stock valued at $56,214,000 after buying an additional 13,263 shares in the last quarter. Institutional investors and hedge funds own 78.31% of the company’s stock.

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.