Murphy Oil (NYSE:MUR) Trading Down 7.7% on Analyst Downgrade
by Kim Johansen · The Markets DailyMurphy Oil Corporation (NYSE:MUR – Get Free Report) shares were down 7.7% during mid-day trading on Tuesday after Zacks Research downgraded the stock from a hold rating to a strong sell rating. The company traded as low as $31.07 and last traded at $31.3160. Approximately 779,902 shares changed hands during trading, a decline of 67% from the average daily volume of 2,361,128 shares. The stock had previously closed at $33.92.
Other analysts have also issued reports about the company. Wall Street Zen lowered Murphy Oil from a “hold” rating to a “sell” rating in a research note on Saturday, January 10th. Mizuho lifted their price objective on Murphy Oil from $33.00 to $35.00 and gave the stock a “neutral” rating in a report on Thursday, January 15th. 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 report on Monday, October 6th. Piper Sandler reiterated a “neutral” rating and set a $34.00 target price on shares of Murphy Oil in a research report on Tuesday, November 18th. Finally, Morgan Stanley reduced their target price on shares of Murphy Oil from $28.00 to $27.00 and set an “underweight” rating for the company in a research note on Tuesday, October 14th. Thirteen analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Reduce” and an average price target of $29.69.
Check Out Our Latest Stock Report on MUR
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC lifted its stake in Murphy Oil by 67.3% during the third quarter. Smartleaf Asset Management LLC now owns 1,094 shares of the oil and gas producer’s stock worth $32,000 after purchasing an additional 440 shares during the last quarter. UMB Bank n.a. raised its holdings in shares of Murphy Oil by 148.1% during the 2nd quarter. UMB Bank n.a. now owns 2,273 shares of the oil and gas producer’s stock valued at $51,000 after buying an additional 1,357 shares in the last quarter. Allworth Financial LP lifted its position in Murphy Oil by 39.7% in the 2nd quarter. Allworth Financial LP now owns 2,440 shares of the oil and gas producer’s stock worth $55,000 after buying an additional 693 shares during the last quarter. Hantz Financial Services Inc. lifted its position in Murphy Oil by 494.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 2,786 shares of the oil and gas producer’s stock worth $63,000 after buying an additional 2,317 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in 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 acquiring an additional 3,095 shares during the last quarter. Institutional investors own 78.31% of the company’s stock.
Murphy Oil Price Performance
The firm has a market capitalization of $4.45 billion, a P/E ratio of 31.82 and a beta of 0.78. The business’s 50-day simple moving average is $31.80 and its 200 day simple moving average is $28.26. The company has a quick ratio of 0.87, a current ratio of 0.94 and a debt-to-equity ratio of 0.27.
Murphy Oil (NYSE:MUR – Get Free Report) last announced its quarterly earnings data on Wednesday, November 5th. The oil and gas producer reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.25. The company had revenue of $720.97 million during the quarter, compared to analysts’ expectations of $648.80 million. Murphy Oil had a net margin of 5.16% and a return on equity of 4.30%. The firm’s revenue was down 3.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.74 EPS. Sell-side analysts forecast that Murphy Oil Corporation will post 2.94 earnings per share for the current year.
Murphy Oil Company Profile
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.