Piper Sandler Lowers Murphy Oil (NYSE:MUR) Price Target to $42.00

Murphy Oil (NYSE:MUR) had its price objective reduced by Piper Sandler from $43.00 to $42.00 in a research note published on Monday,Benzinga reports. Piper Sandler currently has an overweight rating on the oil and gas producer’s stock.

Other equities research analysts have also issued reports about the stock. BMO Capital Markets decreased their price target on shares of Murphy Oil from $42.00 to $40.00 and set a “market perform” rating on the stock in a report on Friday, October 4th. Morgan Stanley decreased their target price on shares of Murphy Oil from $43.00 to $39.00 and set an “equal weight” rating on the stock in a research note on Monday, September 16th. Truist Financial dropped their price target on Murphy Oil from $55.00 to $42.00 and set a “buy” rating for the company in a research note on Monday, September 30th. The Goldman Sachs Group cut their price objective on Murphy Oil from $44.00 to $39.00 and set a “neutral” rating on the stock in a report on Monday, October 7th. Finally, UBS Group dropped their target price on Murphy Oil from $45.00 to $39.00 and set a “neutral” rating for the company in a research report on Wednesday, September 18th. Ten investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $40.92.

Murphy Oil Stock Up 0.5 %

NYSE MUR opened at $33.15 on Monday. The business has a fifty day moving average price of $33.64 and a two-hundred day moving average price of $37.67. The stock has a market capitalization of $4.83 billion, a PE ratio of 10.69 and a beta of 2.21. Murphy Oil has a fifty-two week low of $30.99 and a fifty-two week 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 announced its quarterly earnings data on Thursday, November 7th. The oil and gas producer reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.02). The business had revenue of $758.33 million for 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%. Murphy Oil’s quarterly revenue was down 21.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.59 earnings per share. Equities analysts expect that Murphy Oil will post 3.23 earnings per share for the current fiscal year.

Murphy Oil Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.62%. The ex-dividend date of this dividend is Monday, November 18th. Murphy Oil’s dividend payout ratio (DPR) is presently 38.71%.

Institutional Investors Weigh In On Murphy Oil

A number of large investors have recently bought and sold shares of MUR. Signaturefd LLC boosted its position in shares of Murphy Oil by 14.5% during the 2nd quarter. Signaturefd LLC now owns 2,441 shares of the oil and gas producer’s stock worth $101,000 after purchasing an additional 310 shares in the last quarter. Lindenwold Advisors INC raised its stake in Murphy Oil by 3.5% during the 3rd quarter. Lindenwold Advisors INC now owns 10,529 shares of the oil and gas producer’s stock worth $355,000 after buying an additional 358 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in Murphy Oil by 16.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,140 shares of the oil and gas producer’s stock worth $129,000 after acquiring an additional 438 shares in the last quarter. Clear Creek Financial Management LLC grew its stake in Murphy Oil by 8.1% in the third quarter. Clear Creek Financial Management LLC now owns 6,574 shares of the oil and gas producer’s stock valued at $222,000 after acquiring an additional 494 shares during the period. Finally, Mather Group LLC. increased its holdings in shares of Murphy Oil by 1,015.7% during the second quarter. Mather Group LLC. now owns 569 shares of the oil and gas producer’s stock valued at $26,000 after acquiring an additional 518 shares in the last quarter. 78.31% of the stock is currently owned by institutional investors and hedge funds.

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.