Mizuho Trims Murphy Oil (NYSE:MUR) Target Price to $50.00

Murphy Oil (NYSE:MUR) had its price objective reduced by Mizuho from $59.00 to $50.00 in a research note issued to investors on Monday morning, Benzinga reports. They currently have an outperform rating on the oil and gas producer’s stock.

MUR has been the topic of a number of other research reports. Truist Financial lowered their price target on Murphy Oil from $59.00 to $55.00 and set a buy rating on the stock in a report on Monday, July 22nd. StockNews.com lowered Murphy Oil from a buy rating to a hold rating in a report on Tuesday, June 18th. Wolfe Research started coverage on Murphy Oil in a report on Thursday, July 18th. They set a peer perform rating for the company. JPMorgan Chase & Co. dropped their price objective on shares of Murphy Oil from $47.00 to $39.00 and set a neutral rating on the stock in a research note on Thursday, September 12th. Finally, Barclays reduced their target price on shares of Murphy Oil from $54.00 to $46.00 and set an equal weight rating for the company in a research note on Monday, August 12th. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $45.00.

Murphy Oil Trading Down 0.2 %

NYSE:MUR opened at $35.29 on Monday. The company has a market capitalization of $5.38 billion, a PE ratio of 9.83 and a beta of 2.21. Murphy Oil has a 52-week low of $33.15 and a 52-week high of $49.14. The stock’s 50 day moving average price is $37.96 and its 200 day moving average price is $41.35. The company has a quick ratio of 0.76, a current ratio of 0.82 and a debt-to-equity ratio of 0.23.

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

Murphy Oil Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 19th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date of this dividend was Monday, August 19th. Murphy Oil’s dividend payout ratio is currently 33.43%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mather Group LLC. lifted its position in shares of Murphy Oil by 1,015.7% during the 2nd quarter. Mather Group LLC. now owns 569 shares of the oil and gas producer’s stock valued at $26,000 after acquiring an additional 518 shares during the period. Rise Advisors LLC purchased a new position in Murphy Oil in the 1st quarter valued at approximately $30,000. Lindbrook Capital LLC raised its holdings in Murphy Oil by 47.7% during the first quarter. Lindbrook Capital LLC now owns 721 shares of the oil and gas producer’s stock worth $33,000 after purchasing an additional 233 shares during the last quarter. Headlands Technologies LLC boosted its position in Murphy Oil by 1,434.5% during the second quarter. Headlands Technologies LLC now owns 1,289 shares of the oil and gas producer’s stock worth $53,000 after purchasing an additional 1,205 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. grew its holdings in 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 last quarter. 78.31% of the stock is currently owned by institutional investors and hedge funds.

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.