Murphy Oil (NYSE:MUR) Price Target Raised to $35.00

by · The Cerbat Gem

Murphy Oil (NYSE:MUR – Get Free Report) had its price target boosted by research analysts at Mizuho from $33.00 to $35.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the oil and gas producer’s stock. Mizuho’s price objective indicates a potential upside of 2.20% from the stock’s previous close.

MUR has been the subject of several other research reports. Scotiabank raised their price objective on Murphy Oil from $26.00 to $30.00 and gave the company a “sector perform” rating in a research report on Thursday, October 9th. Piper Sandler reissued a “neutral” rating and set a $34.00 price target on shares of Murphy Oil in a research report on Tuesday, November 18th. Evercore ISI dropped their price objective on shares of Murphy Oil from $23.00 to $22.00 and set an “in-line” rating on the stock in a research note on Monday, October 6th. Morgan Stanley cut their price objective on shares of Murphy Oil from $28.00 to $27.00 and set an “underweight” rating on the stock in a report on Tuesday, October 14th. Finally, Zacks Research raised shares of Murphy Oil from a “strong sell” rating to a “hold” rating in a research note on Monday, November 10th. Thirteen research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Murphy Oil has an average rating of “Reduce” and a consensus target price of $29.75.

Read Our Latest Report on Murphy Oil

Murphy Oil Stock Performance

Murphy Oil stock opened at $34.25 on Thursday. Murphy Oil has a fifty-two week low of $18.94 and a fifty-two week high of $35.19. The stock’s 50 day simple moving average is $31.38 and its two-hundred day simple moving average is $27.93. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.87 and a current ratio of 0.94. The stock has a market cap of $4.89 billion, a price-to-earnings ratio of 34.95 and a beta of 0.78.

Murphy Oil (NYSE:MUR – Get Free Report) last announced its earnings results on Wednesday, November 5th. The oil and gas producer reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.25. Murphy Oil had a return on equity of 4.30% and a net margin of 5.16%.The firm had revenue of $720.97 million during the quarter, compared to analyst estimates of $648.80 million. During the same quarter in the prior year, the company earned $0.74 EPS. The business’s revenue was down 3.3% compared to the same quarter last year. As a group, analysts expect that Murphy Oil will post 2.94 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Murphy Oil

A number of institutional investors have recently made changes to their positions in the company. Smartleaf Asset Management LLC raised its holdings in Murphy Oil by 67.3% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,094 shares of the oil and gas producer’s stock worth $32,000 after acquiring an additional 440 shares during the last quarter. UMB Bank n.a. increased its holdings in shares of Murphy Oil by 148.1% in the 2nd quarter. UMB Bank n.a. now owns 2,273 shares of the oil and gas producer’s stock worth $51,000 after purchasing an additional 1,357 shares in the last quarter. Allworth Financial LP raised its stake in shares of Murphy Oil by 39.7% in the second quarter. Allworth Financial LP now owns 2,440 shares of the oil and gas producer’s stock worth $55,000 after purchasing an additional 693 shares during the last quarter. Hantz Financial Services Inc. lifted its holdings in shares of Murphy Oil by 494.0% during the second quarter. Hantz Financial Services Inc. now owns 2,786 shares of the oil and gas producer’s stock valued at $63,000 after purchasing an additional 2,317 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Murphy Oil by 437.8% during the second quarter. EverSource Wealth Advisors LLC now owns 3,802 shares of the oil and gas producer’s stock valued at $86,000 after buying an additional 3,095 shares during the last quarter. Hedge funds and other institutional investors own 78.31% of the company’s stock.

About Murphy Oil

(Get Free Report)

Murphy Oil Corporation is an independent upstream oil and gas company engaged in the exploration, development and production of crude oil, natural gas and natural gas liquids. The company’s operations encompass conventional onshore and offshore reservoirs, with an emphasis on liquids-rich properties and deepwater assets. Through a combination of proprietary technologies and strategic joint ventures, Murphy Oil seeks to optimize recovery rates and manage its portfolio to balance long-term resource development with operational flexibility.

Murphy Oil’s exploration and production activities are geographically diversified.

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