JPMorgan Chase & Co. Trims Murphy Oil (NYSE:MUR) Target Price to $39.00

Murphy Oil (NYSE:MUR) had its target price cut by research analysts at JPMorgan Chase & Co. from $47.00 to $39.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the oil and gas producer’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 14.10% from the company’s current price.

MUR has been the topic of a number of other research reports. Wolfe Research began coverage on shares of Murphy Oil in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. Scotiabank cut Murphy Oil from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 9th. StockNews.com downgraded shares of Murphy Oil from a “buy” rating to a “hold” rating in a report on Tuesday, June 18th. UBS Group dropped their price target on Murphy Oil from $49.00 to $45.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 13th. Finally, Truist Financial cut their price target on Murphy Oil from $59.00 to $55.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Murphy Oil has an average rating of “Hold” and an average target price of $47.18.

Murphy Oil Stock Up 0.8 %

Shares of NYSE:MUR opened at $34.18 on Thursday. The firm has a market cap of $5.16 billion, a PE ratio of 9.52 and a beta of 2.21. The company has a fifty day simple moving average of $38.17 and a 200 day simple moving average of $41.40. The company has a current ratio of 0.82, a quick ratio of 0.76 and a debt-to-equity ratio of 0.23. Murphy Oil has a 12-month low of $33.15 and a 12-month high of $49.14.

Murphy Oil (NYSE:MUR) last announced its earnings results on Thursday, August 8th. The oil and gas producer reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.08. The firm had revenue of $802.80 million for the quarter, compared to the consensus estimate of $813.97 million. Murphy Oil had a return on equity of 11.68% and a net margin of 17.32%. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.79 EPS. On average, equities research analysts anticipate that Murphy Oil will post 3.99 EPS for the current fiscal year.

Hedge Funds Weigh In On Murphy Oil

A number of hedge funds have recently bought and sold shares of MUR. Private Advisor Group LLC purchased a new position in Murphy Oil during the fourth quarter worth about $304,000. Principal Securities Inc. bought a new position in shares of Murphy Oil in the fourth quarter worth approximately $151,000. BNP Paribas Financial Markets grew its position in Murphy Oil by 2.6% in the fourth quarter. BNP Paribas Financial Markets now owns 109,418 shares of the oil and gas producer’s stock worth $4,668,000 after acquiring an additional 2,731 shares in the last quarter. QRG Capital Management Inc. boosted its holdings in shares of Murphy Oil by 5.0% in the 4th quarter. QRG Capital Management Inc. now owns 15,043 shares of the oil and gas producer’s stock worth $642,000 after purchasing an additional 718 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its stake in shares of Murphy Oil by 19.7% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 27,064 shares of the oil and gas producer’s stock valued at $1,155,000 after purchasing an additional 4,450 shares in the last quarter. Institutional investors own 78.31% of the company’s stock.

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.