Murphy Oil (NYSE:MUR) Given New $39.00 Price Target at Piper Sandler

Murphy Oil (NYSE:MUR) had its price target decreased by equities researchers at Piper Sandler from $42.00 to $39.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the oil and gas producer’s stock. Piper Sandler’s price target would suggest a potential upside of 34.81% from the company’s previous close.

A number of other brokerages have also recently issued reports on MUR. Barclays decreased their target price on Murphy Oil from $38.00 to $37.00 and set an “equal weight” rating for the company in a research report on Monday, November 11th. Wells Fargo & Company dropped their price objective on shares of Murphy Oil from $39.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Monday, December 9th. Truist Financial decreased their target price on shares of Murphy Oil from $55.00 to $42.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Scotiabank dropped their price target on Murphy Oil from $47.00 to $36.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 10th. Finally, Mizuho decreased their price objective on Murphy Oil from $50.00 to $45.00 and set an “outperform” rating for the company in a research report on Monday. Ten investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $39.58.

Murphy Oil Stock Down 2.2 %

Shares of NYSE MUR traded down $0.64 during midday trading on Tuesday, hitting $28.93. 504,401 shares of the company’s stock were exchanged, compared to its average volume of 1,649,398. The firm’s fifty day simple moving average is $32.49 and its 200-day simple moving average is $36.20. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.71 and a quick ratio of 0.65. The company has a market cap of $4.22 billion, a PE ratio of 9.33 and a beta of 2.18. Murphy Oil has a twelve month low of $28.81 and a twelve month high of $49.14.

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

Institutional Trading of Murphy Oil

Hedge funds and other institutional investors have recently made changes to their positions in the stock. International Assets Investment Management LLC raised its position in shares of Murphy Oil by 3,191.6% in the third quarter. International Assets Investment Management LLC now owns 1,627,268 shares of the oil and gas producer’s stock valued at $54,904,000 after buying an additional 1,577,831 shares during the last quarter. Barclays PLC grew its stake in Murphy Oil by 399.4% in the 3rd quarter. Barclays PLC now owns 1,012,944 shares of the oil and gas producer’s stock worth $34,177,000 after acquiring an additional 810,104 shares during the period. Wedge Capital Management L L P NC raised its holdings in Murphy Oil by 641.7% in the 3rd quarter. Wedge Capital Management L L P NC now owns 672,717 shares of the oil and gas producer’s stock valued at $22,697,000 after acquiring an additional 582,020 shares during the last quarter. Squarepoint Ops LLC boosted its holdings in shares of Murphy Oil by 92.1% during the second quarter. Squarepoint Ops LLC now owns 687,254 shares of the oil and gas producer’s stock worth $28,342,000 after purchasing an additional 329,521 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Murphy Oil by 3.3% in 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. Institutional investors and hedge funds 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.