Piper Sandler Has Lowered Expectations for Murphy Oil (NYSE:MUR) Stock Price

Murphy Oil (NYSE:MUR) had its price objective decreased by equities researchers at Piper Sandler from $39.00 to $35.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the oil and gas producer’s stock. Piper Sandler’s price target indicates a potential upside of 20.58% from the stock’s current price.

MUR has been the topic of several other reports. BMO Capital Markets lowered their target price on Murphy Oil from $42.00 to $40.00 and set a “market perform” rating on the stock in a report on Friday, October 4th. Mizuho reduced their price target on shares of Murphy Oil from $50.00 to $45.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. UBS Group reduced their price target on shares of Murphy Oil from $38.00 to $34.00 and set a “neutral” rating on the stock in a research report on Monday, December 9th. KeyCorp reduced their price target on shares of Murphy Oil from $54.00 to $50.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Finally, Barclays reduced their price target on shares of Murphy Oil from $38.00 to $37.00 and set an “equal weight” rating on the stock in a research report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $39.08.

Murphy Oil Stock Down 0.6 %

Murphy Oil stock opened at $29.03 on Wednesday. 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 stock has a market capitalization of $4.23 billion, a price-to-earnings ratio of 9.36 and a beta of 2.17. Murphy Oil has a 1-year low of $27.75 and a 1-year high of $49.14. The business has a fifty day moving average price of $31.05 and a 200-day moving average price of $34.08.

Murphy Oil (NYSE:MUR) last released its quarterly earnings data on Thursday, November 7th. The oil and gas producer reported $0.74 earnings per share 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 for the quarter, compared to analysts’ expectations of $759.74 million. During the same quarter in the previous year, the business posted $1.59 EPS. The business’s quarterly revenue was down 21.0% on a year-over-year basis. Equities research analysts forecast that Murphy Oil will post 3.05 EPS for the current fiscal year.

Institutional Trading of Murphy Oil

A number of large investors have recently modified their holdings of MUR. Covestor Ltd increased its position in shares of Murphy Oil by 266.8% during the third quarter. Covestor Ltd now owns 741 shares of the oil and gas producer’s stock worth $25,000 after acquiring an additional 539 shares during the period. Reston Wealth Management LLC purchased a new stake in shares of Murphy Oil during the third quarter worth $27,000. Compass Wealth Management LLC acquired a new position in shares of Murphy Oil during the third quarter worth $42,000. Bruce G. Allen Investments LLC grew its stake 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 worth $50,000 after purchasing an additional 758 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Murphy Oil by 90.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,758 shares of the oil and gas producer’s stock worth $59,000 after purchasing an additional 833 shares in the last quarter. Hedge funds and other institutional investors own 78.31% of the company’s stock.

About Murphy Oil

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.