Murphy Oil (NYSE:MUR) Price Target Cut to $39.00 by Analysts at Piper Sandler

Murphy Oil (NYSE:MUR) had its price objective cut by Piper Sandler from $42.00 to $39.00 in a research report report published on Tuesday morning,Benzinga reports. They currently have an overweight rating on the oil and gas producer’s stock.

MUR has been the topic of a number of other research reports. The Goldman Sachs Group dropped their price objective on shares of Murphy Oil from $44.00 to $39.00 and set a “neutral” rating on the stock in a report on Monday, October 7th. Scotiabank cut their price objective on shares of Murphy Oil from $47.00 to $36.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. Barclays reduced their price objective on 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. UBS Group lowered their target price on Murphy Oil from $38.00 to $34.00 and set a “neutral” rating on the stock in a research report on Monday, December 9th. Finally, JPMorgan Chase & Co. reduced 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. 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.com, the company has an average rating of “Hold” and an average target price of $39.58.

Murphy Oil Price Performance

MUR opened at $29.30 on Tuesday. The firm has a market cap of $4.27 billion, a PE ratio of 9.45 and a beta of 2.18. The stock has a 50-day moving average price of $32.49 and a 200-day moving average price of $36.20. Murphy Oil has a 1 year low of $28.81 and a 1 year high of $49.14. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.71 and a quick ratio of 0.65.

Murphy Oil (NYSE:MUR) last issued its earnings results on Thursday, November 7th. The oil and gas producer reported $0.74 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.02). Murphy Oil had a return on equity of 9.22% and a net margin of 14.78%. The business had revenue of $758.33 million during the quarter, compared to analysts’ expectations of $759.74 million. During the same period last year, the firm posted $1.59 EPS. Murphy Oil’s quarterly revenue was down 21.0% compared to the same quarter last year. Sell-side analysts predict that Murphy Oil will post 3.15 earnings per share for the current fiscal year.

Murphy Oil Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 18th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.10%. The ex-dividend date of this dividend was Monday, November 18th. Murphy Oil’s dividend payout ratio is currently 38.71%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of MUR. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Murphy Oil by 19.8% in 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 holdings 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 lifted its stake 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 worth $5,021,000 after acquiring an additional 6,341 shares during the period. Fifth Third Wealth Advisors LLC bought a new position in Murphy Oil during the 2nd quarter worth about $216,000. Finally, Clear Creek Financial Management LLC bought a new position in Murphy Oil during the 2nd quarter worth about $251,000. 78.31% of the stock is currently owned by hedge funds and other 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.