Wells Fargo & Company Lowers Murphy Oil (NYSE:MUR) Price Target to $39.00

Murphy Oil (NYSE:MUR) had its price objective reduced by stock analysts at Wells Fargo & Company from $41.00 to $39.00 in a report issued on Friday, Benzinga reports. The brokerage currently has an “equal weight” rating on the oil and gas producer’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 15.80% from the stock’s previous close.

Several other brokerages have also recently weighed in on MUR. UBS Group dropped their price target on shares of Murphy Oil from $45.00 to $39.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 18th. StockNews.com lowered Murphy Oil from a “buy” rating to a “hold” rating in a report on Tuesday, June 18th. Truist Financial decreased 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. JPMorgan Chase & Co. dropped their price objective on 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, Morgan Stanley reduced their target price on shares of Murphy Oil from $43.00 to $39.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Murphy Oil has an average rating of “Hold” and a consensus target price of $44.82.

Murphy Oil Stock Up 2.7 %

Shares of NYSE MUR traded up $0.89 during midday trading on Friday, hitting $33.68. 488,656 shares of the stock traded hands, compared to its average volume of 1,677,193. Murphy Oil has a one year low of $32.53 and a one year high of $49.14. The business has a 50 day moving average price of $37.05 and a two-hundred day moving average price of $41.09. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.76 and a current ratio of 0.82. The company has a market cap of $5.14 billion, a PE ratio of 9.38 and a beta of 2.21.

Murphy Oil (NYSE:MUR) last released its quarterly earnings data on Thursday, August 8th. The oil and gas producer reported $0.81 earnings per share for the quarter, topping 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 net margin of 17.32% and a return on equity of 11.68%. The business’s revenue was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.79 earnings per share. On average, equities analysts predict that Murphy Oil will post 3.57 EPS for the current year.

Institutional Investors Weigh In On Murphy Oil

A number of hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP grew its holdings in Murphy Oil by 3.3% during the second quarter. Dimensional Fund Advisors LP now owns 8,254,125 shares of the oil and gas producer’s stock valued at $340,400,000 after purchasing an additional 262,256 shares during the period. Earnest Partners LLC grew its stake in shares of Murphy Oil by 7.7% during the 1st quarter. Earnest Partners LLC now owns 2,737,409 shares of the oil and gas producer’s stock worth $125,100,000 after acquiring an additional 195,906 shares during the period. Bank of New York Mellon Corp increased its holdings in Murphy Oil by 5.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,138,985 shares of the oil and gas producer’s stock worth $88,212,000 after acquiring an additional 107,462 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its stake in Murphy Oil by 23.0% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 1,132,305 shares of the oil and gas producer’s stock valued at $51,746,000 after acquiring an additional 212,100 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in Murphy Oil by 90.5% during the second quarter. Assenagon Asset Management S.A. now owns 1,092,374 shares of the oil and gas producer’s stock valued at $45,050,000 after purchasing an additional 518,904 shares during the last quarter. Institutional investors own 78.31% of the company’s stock.

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.