Truist Financial Forecasts Strong Price Appreciation for Murphy Oil (NYSE:MUR) Stock

by · The Markets Daily

Murphy Oil (NYSE:MUR – Get Free Report) had its target price lifted by equities research analysts at Truist Financial from $40.00 to $42.00 in a report released on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the oil and gas producer’s stock. Truist Financial’s target price points to a potential upside of 23.13% from the company’s previous close.

Other research analysts also recently issued reports about the company. Wells Fargo & Company dropped their price objective on 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. 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. Morgan Stanley lowered their price objective on Murphy Oil from $43.00 to $39.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th. The Goldman Sachs Group lowered their price objective on Murphy Oil from $44.00 to $39.00 and set a “neutral” rating for the company in a research note on Monday, October 7th. Finally, Piper Sandler lowered their price objective on Murphy Oil from $42.00 to $39.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. Ten investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $39.58.

Read Our Latest Analysis on MUR

Murphy Oil Price Performance

MUR stock traded up $0.88 during midday trading on Monday, reaching $34.11. 97,901 shares of the stock were exchanged, compared to its average volume of 1,772,290. The stock has a market capitalization of $4.97 billion, a PE ratio of 11.00 and a beta of 2.17. Murphy Oil has a 52 week low of $27.75 and a 52 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. The company has a fifty day moving average price of $31.30 and a 200 day moving average price of $34.86.

Murphy Oil (NYSE:MUR – Get Free Report) last released its quarterly 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). Murphy Oil had a net margin of 14.78% and a return on equity of 9.22%. The company had revenue of $758.33 million during the quarter, compared to the consensus estimate of $759.74 million. During the same quarter last year, the firm posted $1.59 EPS. The company’s quarterly revenue was down 21.0% on a year-over-year basis. As a group, analysts expect that Murphy Oil will post 3.15 EPS for the current fiscal year.

Institutional Trading of Murphy Oil

Large investors have recently bought and sold shares of the company. Covestor Ltd boosted its position in Murphy Oil by 266.8% during the 3rd 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 in the last quarter. Reston Wealth Management LLC purchased a new position in shares of Murphy Oil during the third quarter valued at approximately $27,000. Compass Wealth Management LLC purchased a new position in shares of Murphy Oil during the third quarter valued at approximately $42,000. Bruce G. Allen Investments LLC lifted its holdings in shares of Murphy Oil by 106.5% during the third quarter. Bruce G. Allen Investments LLC now owns 1,470 shares of the oil and gas producer’s stock valued at $50,000 after purchasing an additional 758 shares during the last quarter. Finally, Headlands Technologies LLC lifted its holdings in shares of Murphy Oil by 1,434.5% during the second quarter. Headlands Technologies LLC now owns 1,289 shares of the oil and gas producer’s stock valued at $53,000 after purchasing an additional 1,205 shares during the last quarter. 78.31% of the stock is owned by institutional investors.

Murphy Oil Company Profile

(Get Free Report)

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.

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