Murphy Oil (NYSE:MUR – Get Free Report) had its price target dropped by equities research analysts at Mizuho from $50.00 to $45.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the oil and gas producer’s stock. Mizuho’s price objective would suggest a potential upside of 53.61% from the company’s previous close.
MUR has been the topic of a number of other research reports. Morgan Stanley lowered their price objective on Murphy Oil from $43.00 to $39.00 and set an “equal weight” rating on the stock in a research note on Monday, September 16th. Truist Financial dropped their price objective on shares of Murphy Oil from $55.00 to $42.00 and set a “buy” rating for the company in a report on Monday, September 30th. KeyCorp reduced their target price on shares of Murphy Oil from $54.00 to $50.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Barclays dropped their price target on shares of Murphy Oil from $38.00 to $37.00 and set an “equal weight” rating for the company in a research note on Monday, November 11th. Finally, Wells Fargo & Company reduced their price target on shares of Murphy Oil from $39.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Monday, December 9th. Ten research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $39.58.
Murphy Oil Trading Down 0.9 %
Murphy Oil (NYSE:MUR – Get Free Report) 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 business had revenue of $758.33 million during the quarter, compared to analyst estimates of $759.74 million. Murphy Oil had a net margin of 14.78% and a return on equity of 9.22%. The firm’s revenue was down 21.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.59 EPS. Research analysts forecast that Murphy Oil will post 3.15 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Murphy Oil
Several institutional investors have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC increased its stake in Murphy Oil by 19.8% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 6,269 shares of the oil and gas producer’s stock worth $259,000 after buying an additional 1,036 shares during the period. Envestnet Portfolio Solutions Inc. raised its stake in shares of Murphy Oil by 6.3% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 13,851 shares of the oil and gas producer’s stock valued at $571,000 after acquiring an additional 815 shares in the last quarter. Raymond James & Associates boosted its holdings in Murphy Oil by 5.5% in the second quarter. Raymond James & Associates now owns 121,742 shares of the oil and gas producer’s stock valued at $5,021,000 after purchasing an additional 6,341 shares during the period. Fifth Third Wealth Advisors LLC acquired a new position in Murphy Oil during the 2nd quarter worth $216,000. Finally, Clear Creek Financial Management LLC purchased a new stake in Murphy Oil during the 2nd quarter worth about $251,000. 78.31% of the stock is owned by institutional investors and hedge funds.
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.
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