Piper Sandler Lowers Murphy Oil (NYSE:MUR) Price Target to $42.00

Murphy Oil (NYSE:MUR) had its price objective decreased by stock analysts at Piper Sandler from $43.00 to $42.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the oil and gas producer’s stock. Piper Sandler’s price target suggests a potential upside of 29.19% from the company’s current price.

A number of other research analysts have also commented on the stock. Wells Fargo & Company reduced 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 research report on Friday, September 27th. Truist Financial decreased their target price on Murphy Oil from $55.00 to $42.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. JPMorgan Chase & Co. dropped their price target on Murphy Oil from $47.00 to $39.00 and set a “neutral” rating for the company in a research report on Thursday, September 12th. Mizuho decreased their price objective on shares of Murphy Oil from $59.00 to $50.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Finally, The Goldman Sachs Group dropped their target price on shares of Murphy Oil from $44.00 to $39.00 and set a “neutral” rating for the company in a research report on Monday, October 7th. Ten equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $40.92.

Murphy Oil Stock Down 1.4 %

Shares of NYSE MUR opened at $32.51 on Monday. The company has a quick ratio of 0.65, a current ratio of 0.71 and a debt-to-equity ratio of 0.24. The company has a market cap of $4.74 billion, a P/E ratio of 10.49 and a beta of 2.21. Murphy Oil has a 52 week low of $30.99 and a 52 week high of $49.14. The business has a 50-day simple moving average of $33.68 and a two-hundred day simple moving average of $37.74.

Murphy Oil (NYSE:MUR) last released its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $759.74 million. Murphy Oil had a net margin of 14.78% and a return on equity of 9.22%. Murphy Oil’s revenue was down 21.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.59 earnings per share. Research analysts anticipate that Murphy Oil will post 3.3 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of MUR. Neo Ivy Capital Management lifted its stake in shares of Murphy Oil by 597.6% in the 3rd quarter. Neo Ivy Capital Management now owns 71,154 shares of the oil and gas producer’s stock valued at $2,400,000 after acquiring an additional 60,954 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of 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 valued at $119,755,000 after purchasing an additional 45,432 shares during the period. M&T Bank Corp bought a new position in shares of Murphy Oil in the third quarter worth approximately $238,000. Barclays PLC increased its stake in shares of Murphy Oil by 399.4% in the third quarter. Barclays PLC now owns 1,012,944 shares of the oil and gas producer’s stock worth $34,177,000 after buying an additional 810,104 shares during the period. Finally, Y Intercept Hong Kong Ltd increased its stake in shares of Murphy Oil by 22.1% in the third quarter. Y Intercept Hong Kong Ltd now owns 44,862 shares of the oil and gas producer’s stock worth $1,514,000 after buying an additional 8,126 shares during the period. 78.31% of the stock is owned by 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.