Murphy Oil (NYSE:MUR) Price Target Cut to $42.00 by Analysts at Piper Sandler

Murphy Oil (NYSE:MUR) had its price objective decreased by analysts at Piper Sandler from $43.00 to $42.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has an “overweight” rating on the oil and gas producer’s stock. Piper Sandler’s price target points to a potential upside of 27.93% from the company’s current price.

A number of other analysts have also recently commented on the stock. JPMorgan Chase & Co. lowered their target price on shares of Murphy Oil from $47.00 to $39.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. Morgan Stanley decreased their price target on Murphy Oil from $43.00 to $39.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. Truist Financial dropped their target price on Murphy Oil from $55.00 to $42.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Wells Fargo & Company cut their price target on shares of Murphy Oil from $41.00 to $39.00 and set an “equal weight” rating for the company in a report on Friday, September 27th. Finally, BMO Capital Markets cut their target price on shares of Murphy Oil from $42.00 to $40.00 and set a “market perform” rating for the company in a research note on Friday, October 4th. Ten equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $41.00.

Murphy Oil Stock Up 2.0 %

MUR stock traded up $0.63 during trading on Monday, reaching $32.83. 490,502 shares of the company traded hands, compared to its average volume of 1,659,073. The company has a market capitalization of $4.79 billion, a price-to-earnings ratio of 10.59 and a beta of 2.21. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.65 and a current ratio of 0.71. The business has a 50 day simple moving average of $33.74 and a 200 day simple moving average of $37.90. Murphy Oil has a 12 month low of $30.99 and a 12 month high of $49.14.

Murphy Oil (NYSE:MUR) last posted its earnings results on Thursday, November 7th. The oil and gas producer reported $0.74 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.02). The firm had revenue of $758.33 million for the quarter, compared to analysts’ expectations of $759.74 million. Murphy Oil had a net margin of 14.78% and a return on equity of 9.22%. The company’s revenue was down 21.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.59 EPS. On average, equities research analysts anticipate that Murphy Oil will post 3.3 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Murphy Oil

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Covestor Ltd raised its position in Murphy Oil by 266.8% in the third quarter. Covestor Ltd now owns 741 shares of the oil and gas producer’s stock valued at $25,000 after purchasing an additional 539 shares during the period. Mather Group LLC. raised its holdings in shares of Murphy Oil by 1,015.7% in the 2nd quarter. Mather Group LLC. now owns 569 shares of the oil and gas producer’s stock valued at $26,000 after buying an additional 518 shares during the period. Reston Wealth Management LLC purchased a new stake in shares of Murphy Oil in the 3rd quarter valued at $27,000. Compass Wealth Management LLC acquired a new position in Murphy Oil during the 3rd quarter worth about $42,000. Finally, Bruce G. Allen Investments LLC boosted its holdings in Murphy Oil by 106.5% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 1,470 shares of the oil and gas producer’s stock valued at $50,000 after acquiring an additional 758 shares during the period. 78.31% of the stock is owned by hedge funds and other 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.