Murphy Oil (NYSE:MUR) Given New $42.00 Price Target at Truist Financial

Murphy Oil (NYSE:MUR) had its price objective increased by Truist Financial from $40.00 to $42.00 in a report issued on Monday,Benzinga reports. The firm currently has a buy rating on the oil and gas producer’s stock.

A number of other analysts also recently weighed in on MUR. Mizuho cut their price target on shares of Murphy Oil from $50.00 to $45.00 and set an “outperform” rating for the company in a report on Monday, December 16th. The Goldman Sachs Group lowered their price objective 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. Barclays lowered their price objective on shares of Murphy Oil from $38.00 to $37.00 and set an “equal weight” rating for the company in a research report on Monday, November 11th. KeyCorp decreased their price target on shares of Murphy Oil from $54.00 to $50.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Finally, Morgan Stanley decreased their price target on shares of Murphy Oil from $43.00 to $39.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. Ten equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Murphy Oil has a consensus rating of “Hold” and an average price target of $39.58.

Murphy Oil Stock Up 1.7 %

Shares of MUR opened at $33.81 on Monday. Murphy Oil has a 52 week low of $27.75 and a 52 week high of $49.14. The firm has a market cap of $4.93 billion, a P/E ratio of 10.91 and a beta of 2.17. The firm’s 50-day simple moving average is $31.30 and its 200 day simple moving average is $34.86. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.65 and a current ratio of 0.71.

Murphy Oil (NYSE:MUR) last posted its quarterly earnings data on Thursday, November 7th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.02). The business 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%. The business’s revenue for the quarter was down 21.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.59 EPS. On average, analysts forecast that Murphy Oil will post 3.15 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in MUR. Covestor Ltd lifted its position in shares of Murphy Oil by 266.8% during 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 in the last quarter. Reston Wealth Management LLC purchased a new stake in Murphy Oil during the third quarter worth about $27,000. Compass Wealth Management LLC purchased a new stake in Murphy Oil during the third quarter worth about $42,000. Bruce G. Allen Investments LLC increased its holdings in Murphy Oil by 106.5% during the third quarter. Bruce G. Allen Investments LLC now owns 1,470 shares of the oil and gas producer’s stock worth $50,000 after buying an additional 758 shares during the last quarter. Finally, Headlands Technologies LLC increased its holdings 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 buying an additional 1,205 shares during the last quarter. 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.