Analysts Set Murphy Oil Co. (NYSE:MUR) Price Target at $42.67

Murphy Oil Co. (NYSE:MUR) has received an average rating of “Hold” from the fourteen brokerages that are presently covering the firm, Marketbeat Ratings reports. Nine analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $41.58.

Several research firms have weighed in on MUR. Scotiabank lowered their price target on shares of Murphy Oil from $47.00 to $36.00 and set a “sector perform” rating on the stock in a report on Thursday. UBS Group reduced their price objective on shares of Murphy Oil from $45.00 to $39.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 18th. StockNews.com cut Murphy Oil from a “buy” rating to a “hold” rating in a report on Tuesday, June 18th. Truist Financial cut their target price on shares of Murphy Oil from $55.00 to $42.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Finally, Barclays reduced their price target on Murphy Oil from $46.00 to $38.00 and set an “equal weight” rating on the stock in a report on Thursday, October 3rd.

Institutional Trading of Murphy Oil

Hedge funds have recently modified their holdings of the business. Mather Group LLC. raised its holdings in Murphy Oil by 1,015.7% in the 2nd quarter. Mather Group LLC. now owns 569 shares of the oil and gas producer’s stock worth $26,000 after acquiring an additional 518 shares during the last quarter. Rise Advisors LLC bought a new stake in shares of Murphy Oil during the 1st quarter valued at about $30,000. Bruce G. Allen Investments LLC raised its position in Murphy Oil by 106.5% in 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 acquiring an additional 758 shares during the period. Headlands Technologies LLC raised its holdings in Murphy Oil by 1,434.5% in the 2nd 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 during the period. Finally, Benjamin F. Edwards & Company Inc. lifted its position in shares of Murphy Oil by 27.0% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 2,105 shares of the oil and gas producer’s stock valued at $96,000 after buying an additional 447 shares in the last quarter. Institutional investors own 78.31% of the company’s stock.

Murphy Oil Stock Performance

NYSE:MUR opened at $35.91 on Friday. The firm has a 50 day moving average of $35.91 and a 200-day moving average of $40.40. The company has a current ratio of 0.82, a quick ratio of 0.76 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $5.48 billion, a P/E ratio of 10.00 and a beta of 2.20. Murphy Oil has a 1 year low of $32.53 and a 1 year high of $49.14.

Murphy Oil (NYSE:MUR) last released its earnings results on Thursday, August 8th. The oil and gas producer reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.08. The business had revenue of $802.80 million during 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 firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.79 earnings per share. As a group, sell-side analysts anticipate that Murphy Oil will post 3.47 EPS for the current fiscal year.

Murphy Oil Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date of this dividend is Monday, November 18th. Murphy Oil’s payout ratio is currently 33.43%.

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.