Murphy Oil (NYSE:MUR – Get Free Report) had its target price hoisted by equities researchers at Wells Fargo & Company from $40.00 to $44.00 in a note issued to investors on Friday, FlyOnTheWall reports. Wells Fargo & Company‘s price objective indicates a potential upside of 0.25% from the company’s previous close.
A number of other equities analysts also recently weighed in on the company. Piper Sandler reduced their price target on Murphy Oil from $59.00 to $51.00 in a research report on Tuesday, June 13th. Jefferies Financial Group upgraded shares of Murphy Oil from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a research note on Monday, April 17th. The Goldman Sachs Group raised their price objective on Murphy Oil from $34.00 to $41.00 and gave the company a “neutral” rating in a report on Friday, April 21st. Mizuho dropped their target price on Murphy Oil from $50.00 to $48.00 in a report on Friday, May 19th. Finally, Morgan Stanley upped their price objective on Murphy Oil from $43.00 to $44.00 in a research note on Monday, May 15th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Murphy Oil currently has an average rating of “Moderate Buy” and an average price target of $46.90.
Get Our Latest Report on Murphy Oil
Murphy Oil Stock Up 1.4 %
Shares of NYSE MUR traded up $0.59 during mid-day trading on Friday, reaching $43.89. 355,102 shares of the company’s stock were exchanged, compared to its average volume of 1,731,600. Murphy Oil has a twelve month low of $31.24 and a twelve month high of $51.28. The company has a current ratio of 0.78, a quick ratio of 0.72 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $6.85 billion, a price-to-earnings ratio of 5.40 and a beta of 2.38. The business has a fifty day simple moving average of $39.11 and a 200 day simple moving average of $38.63.
Murphy Oil (NYSE:MUR – Get Free Report) last announced its quarterly earnings results on Thursday, August 3rd. The oil and gas producer reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.05. Murphy Oil had a net margin of 30.08% and a return on equity of 19.42%. The firm had revenue of $814.60 million for the quarter, compared to analyst estimates of $779.77 million. During the same quarter in the previous year, the firm posted $1.93 earnings per share. The business’s revenue was down 26.0% on a year-over-year basis. As a group, equities analysts expect that Murphy Oil will post 4.45 EPS for the current fiscal year.
Insider Transactions at Murphy Oil
In related news, CFO Thomas J. Mireles sold 14,500 shares of the company’s stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $35.14, for a total value of $509,530.00. Following the transaction, the chief financial officer now directly owns 58,372 shares in the company, valued at $2,051,192.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.92% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Murphy Oil
Large investors have recently added to or reduced their stakes in the stock. Headlands Technologies LLC acquired a new position in shares of Murphy Oil in the 1st quarter valued at approximately $29,000. Toronto Dominion Bank acquired a new stake in shares of Murphy Oil in the 4th quarter valued at $30,000. Belpointe Asset Management LLC increased its stake in shares of Murphy Oil by 68.2% in the 1st quarter. Belpointe Asset Management LLC now owns 900 shares of the oil and gas producer’s stock valued at $33,000 after purchasing an additional 365 shares during the last quarter. Quent Capital LLC lifted its position in shares of Murphy Oil by 70.5% during the 2nd quarter. Quent Capital LLC now owns 885 shares of the oil and gas producer’s stock worth $34,000 after buying an additional 366 shares during the last quarter. Finally, CoreCap Advisors LLC acquired a new stake in Murphy Oil in the fourth quarter valued at about $48,000. Institutional investors and hedge funds own 77.02% of the company’s stock.
About Murphy Oil
Murphy Oil Corporation, together with its subsidiaries, operates as an oil and natural 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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