Piper Sandler Lowers Murphy Oil (NYSE:MUR) Price Target to $43.00

Murphy Oil (NYSE:MUR) had its price objective cut by equities research analysts at Piper Sandler from $44.00 to $43.00 in a report issued on Tuesday, Benzinga reports. The firm currently has an “overweight” rating on the oil and gas producer’s stock. Piper Sandler’s price objective suggests a potential upside of 31.30% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on the company. UBS Group decreased their target price on Murphy Oil from $45.00 to $39.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 18th. Mizuho cut their price target on shares of Murphy Oil from $59.00 to $50.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Wolfe Research began coverage on shares of Murphy Oil in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. JPMorgan Chase & Co. cut their price target on shares of Murphy Oil from $47.00 to $39.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. Finally, Barclays cut their price target on shares of Murphy Oil from $46.00 to $38.00 and set an “equal weight” rating for the company in a research note on Thursday, October 3rd. Ten equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $41.17.

Murphy Oil Trading Down 1.6 %

Shares of NYSE:MUR opened at $32.75 on Tuesday. The company has a market cap of $5.00 billion, a P/E ratio of 9.12 and a beta of 2.20. The stock’s 50-day moving average is $35.75 and its 200-day moving average is $40.15. Murphy Oil has a 52-week low of $32.53 and a 52-week high of $49.14. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.76 and a current ratio of 0.82.

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, topping analysts’ consensus estimates of $0.73 by $0.08. Murphy Oil had a return on equity of 11.68% and a net margin of 17.32%. The business had revenue of $802.80 million for the quarter, compared to the consensus estimate of $813.97 million. During the same period last year, the business earned $0.79 earnings per share. The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. Equities research analysts predict that Murphy Oil will post 3.47 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MUR. Mather Group LLC. lifted its holdings in Murphy Oil by 1,015.7% during the 2nd quarter. Mather Group LLC. now owns 569 shares of the oil and gas producer’s stock worth $26,000 after buying an additional 518 shares in the last quarter. Rise Advisors LLC acquired a new position in shares of Murphy Oil in the 1st quarter valued at $30,000. Compass Wealth Management LLC acquired a new position in shares of Murphy Oil in the 3rd quarter valued at $42,000. Bruce G. Allen Investments LLC lifted its stake in shares of Murphy Oil by 106.5% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 1,470 shares of the oil and gas producer’s stock valued at $50,000 after purchasing an additional 758 shares during the period. Finally, Headlands Technologies LLC lifted its stake in shares of 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 valued at $53,000 after purchasing an additional 1,205 shares during the period. Institutional investors and hedge funds own 78.31% of the company’s stock.

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.