Murphy Oil (NYSE:MUR) Price Target Cut to $38.00 by Analysts at Barclays

Murphy Oil (NYSE:MUR) had its price objective cut by Barclays from $46.00 to $38.00 in a report released on Thursday morning, Benzinga reports. They currently have an equal weight rating on the oil and gas producer’s stock.

Several other research analysts have also commented on MUR. JPMorgan Chase & Co. cut their price target on Murphy Oil from $47.00 to $39.00 and set a neutral rating on the stock in a research report on Thursday, September 12th. Wells Fargo & Company cut their target price on shares of Murphy Oil from $41.00 to $39.00 and set an equal weight rating on the stock in a report on Friday, September 27th. StockNews.com cut shares of Murphy Oil from a buy rating to a hold rating in a research note on Tuesday, June 18th. Piper Sandler dropped their price objective on shares of Murphy Oil from $54.00 to $44.00 and set an overweight rating on the stock in a research note on Thursday, August 15th. Finally, Morgan Stanley reduced their target price on shares of Murphy Oil from $43.00 to $39.00 and set an equal weight rating for the company in a report on Monday, September 16th. Nine investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Hold and a consensus target price of $42.67.

Murphy Oil Trading Up 1.2 %

NYSE MUR opened at $36.05 on Thursday. Murphy Oil has a 12 month low of $32.53 and a 12 month high of $49.14. The company has a market capitalization of $5.50 billion, a price-to-earnings ratio of 10.04 and a beta of 2.19. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.82 and a quick ratio of 0.76. The firm’s fifty day moving average price is $36.35 and its 200 day moving average price is $40.72.

Murphy Oil (NYSE:MUR) last issued its quarterly earnings data on Thursday, August 8th. The oil and gas producer reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.08. Murphy Oil had a return on equity of 11.68% and a net margin of 17.32%. The company had revenue of $802.80 million for the quarter, compared to analyst estimates of $813.97 million. During the same quarter last year, the company posted $0.79 earnings per share. The business’s quarterly revenue was down 1.4% compared to the same quarter last year. On average, sell-side analysts expect that Murphy Oil will post 3.57 earnings per share for the current fiscal year.

Murphy Oil Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date of this dividend is Monday, November 18th. Murphy Oil’s dividend payout ratio is presently 33.43%.

Institutional Trading of Murphy Oil

Hedge funds have recently modified their holdings of the business. Mather Group LLC. grew its holdings in Murphy Oil by 1,015.7% during the second quarter. Mather Group LLC. now owns 569 shares of the oil and gas producer’s stock worth $26,000 after acquiring an additional 518 shares during the period. Rise Advisors LLC purchased a new position in shares of Murphy Oil in the 1st quarter valued at about $30,000. Headlands Technologies LLC lifted its stake in shares of Murphy Oil by 1,434.5% in the second quarter. Headlands Technologies LLC now owns 1,289 shares of the oil and gas producer’s stock valued at $53,000 after purchasing an additional 1,205 shares during the period. Benjamin F. Edwards & Company Inc. lifted its stake in shares of Murphy Oil by 27.0% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 2,105 shares of the oil and gas producer’s stock valued at $96,000 after purchasing an additional 447 shares during the period. Finally, Signaturefd LLC boosted its holdings in Murphy Oil by 14.5% during the second quarter. Signaturefd LLC now owns 2,441 shares of the oil and gas producer’s stock worth $101,000 after buying an additional 310 shares in the last quarter. 78.31% of the stock is owned by institutional investors and hedge funds.

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.