Murphy Oil (NYSE:MUR) Stock Price Expected to Rise, Truist Financial Analyst Says

Murphy Oil (NYSE:MUR) had its price objective raised by Truist Financial from $40.00 to $42.00 in a research report sent to investors on Monday morning,Benzinga reports. They currently have a buy rating on the oil and gas producer’s stock.

A number of other brokerages have also weighed in on MUR. Scotiabank decreased their target price on 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. The Goldman Sachs Group decreased their price objective on shares of Murphy Oil from $44.00 to $39.00 and set a “neutral” rating for the company in a report on Monday, October 7th. UBS Group dropped their target price on shares of Murphy Oil from $38.00 to $34.00 and set a “neutral” rating on the stock in a report on Monday, December 9th. Wells Fargo & Company decreased their target price on shares of Murphy Oil from $39.00 to $35.00 and set an “equal weight” rating for the company in a research note on Monday, December 9th. Finally, Mizuho dropped their price target on Murphy Oil from $50.00 to $45.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Ten equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $39.58.

Murphy Oil Price Performance

Shares of MUR opened at $33.45 on Monday. Murphy Oil has a twelve month low of $27.75 and a twelve month high of $49.14. The company has a market capitalization of $4.88 billion, a P/E ratio of 10.79 and a beta of 2.17. The firm has a 50 day moving average of $31.41 and a 200 day moving average of $34.75. The company has a quick ratio of 0.65, a current ratio of 0.71 and a debt-to-equity ratio of 0.24.

Murphy Oil (NYSE:MUR) last posted its earnings results 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 the consensus estimate of $759.74 million. Murphy Oil had a return on equity of 9.22% and a net margin of 14.78%. The firm’s revenue for the quarter was down 21.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.59 EPS. As a group, equities research analysts anticipate that Murphy Oil will post 3.07 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Murphy Oil

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Lindenwold Advisors INC boosted its position in shares of Murphy Oil by 3.5% in the third quarter. Lindenwold Advisors INC now owns 10,529 shares of the oil and gas producer’s stock worth $355,000 after purchasing an additional 358 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Murphy Oil by 16.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,140 shares of the oil and gas producer’s stock valued at $129,000 after buying an additional 438 shares in the last quarter. Harbor Capital Advisors Inc. boosted its holdings in Murphy Oil by 1.8% in the 4th quarter. Harbor Capital Advisors Inc. now owns 25,069 shares of the oil and gas producer’s stock worth $759,000 after buying an additional 450 shares during the period. Clear Creek Financial Management LLC increased its stake in Murphy Oil by 8.1% in the 3rd quarter. Clear Creek Financial Management LLC now owns 6,574 shares of the oil and gas producer’s stock worth $222,000 after buying an additional 494 shares in the last quarter. Finally, Covestor Ltd raised its holdings in Murphy Oil by 266.8% during the third quarter. Covestor Ltd now owns 741 shares of the oil and gas producer’s stock valued at $25,000 after acquiring an additional 539 shares during the period. 78.31% of the stock is owned by hedge funds and other institutional investors.

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.