KeyCorp Lowers Murphy Oil (NYSE:MUR) Price Target to $37.00

Murphy Oil (NYSE:MUR) had its price target dropped by analysts at KeyCorp from $50.00 to $37.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has an “overweight” rating on the oil and gas producer’s stock. KeyCorp’s price target points to a potential upside of 39.23% from the stock’s current price.

Several other research analysts also recently weighed in on the company. Wells Fargo & Company dropped their price target on Murphy Oil from $35.00 to $31.00 and set an “equal weight” rating for the company in a research note on Friday. UBS Group decreased their price target on shares of Murphy Oil from $38.00 to $34.00 and set a “neutral” rating on the stock in a research note on Monday, December 9th. Morgan Stanley restated an “underweight” rating and set a $37.00 price objective on shares of Murphy Oil in a research report on Wednesday, January 22nd. Scotiabank dropped their price target on Murphy Oil from $47.00 to $36.00 and set a “sector perform” rating for the company in a research note on Thursday, October 10th. Finally, Truist Financial cut Murphy Oil from a “buy” rating to a “hold” rating and cut their price target for the company from $42.00 to $31.00 in a report on Friday. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $36.75.

Murphy Oil Stock Down 3.3 %

Shares of MUR stock opened at $26.57 on Monday. The company has a market capitalization of $3.88 billion, a price-to-earnings ratio of 9.88 and a beta of 2.14. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.83 and a quick ratio of 0.77. The company’s fifty day moving average price is $30.72 and its 200-day moving average price is $33.78. Murphy Oil has a one year low of $26.47 and a one year high of $49.14.

Murphy Oil (NYSE:MUR) last posted its quarterly earnings results on Thursday, January 30th. The oil and gas producer reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.27). Murphy Oil had a net margin of 13.44% and a return on equity of 7.66%. During the same period in the prior year, the firm earned $0.90 EPS. Sell-side analysts expect that Murphy Oil will post 3.33 EPS for the current fiscal year.

Hedge Funds Weigh In On Murphy Oil

Several hedge funds have recently added to or reduced their stakes in MUR. Geode Capital Management LLC lifted its stake in Murphy Oil by 1.3% in the third quarter. Geode Capital Management LLC now owns 3,548,711 shares of the oil and gas producer’s stock worth $119,755,000 after purchasing an additional 45,432 shares during the last quarter. Hotchkis & Wiley Capital Management LLC lifted its stake in shares of Murphy Oil by 2.3% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 2,627,701 shares of the oil and gas producer’s stock worth $88,659,000 after acquiring an additional 58,220 shares during the last quarter. Vaughan Nelson Investment Management L.P. boosted its holdings in Murphy Oil by 91.6% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,751,737 shares of the oil and gas producer’s stock valued at $53,008,000 after acquiring an additional 837,282 shares during the period. International Assets Investment Management LLC boosted its holdings in Murphy Oil by 3,191.6% during the 3rd 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 acquiring an additional 1,577,831 shares during the period. Finally, JPMorgan Chase & Co. grew its position in Murphy Oil by 26.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,595,260 shares of the oil and gas producer’s stock valued at $53,824,000 after acquiring an additional 336,372 shares during the last quarter. 78.31% of the stock is currently owned by 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.