UBS Group Cuts Murphy Oil (NYSE:MUR) Price Target to $32.00

Murphy Oil (NYSE:MUR) had its price target trimmed by UBS Group from $34.00 to $32.00 in a research note published on Monday,Benzinga reports. The brokerage currently has a neutral rating on the oil and gas producer’s stock.

Several other brokerages have also recently weighed in on MUR. Wells Fargo & Company decreased their price objective on Murphy Oil from $35.00 to $31.00 and set an “equal weight” rating for the company in a report on Friday, January 31st. Truist Financial downgraded Murphy Oil from a “buy” rating to a “hold” rating and decreased their price target for the company from $42.00 to $31.00 in a research note on Friday, January 31st. Barclays dropped their price objective on Murphy Oil from $38.00 to $37.00 and set an “equal weight” rating on the stock in a research note on Monday, November 11th. Mizuho lowered their target price on shares of Murphy Oil from $50.00 to $45.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Finally, Scotiabank cut their price target on shares of Murphy Oil from $47.00 to $36.00 and set a “sector perform” rating for the company in a research note on Thursday, October 10th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $36.33.

Murphy Oil Stock Up 0.9 %

Shares of Murphy Oil stock opened at $26.71 on Monday. Murphy Oil has a 52-week low of $25.26 and a 52-week high of $49.14. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.77 and a current ratio of 0.83. The business’s 50 day simple moving average is $30.34 and its 200 day simple moving average is $33.51. The firm has a market cap of $3.89 billion, a PE ratio of 9.93 and a beta of 2.14.

Murphy Oil (NYSE:MUR) last announced its quarterly earnings data on Thursday, January 30th. The oil and gas producer reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.27). Murphy Oil had a return on equity of 7.66% and a net margin of 13.44%. During the same quarter in the prior year, the business posted $0.90 earnings per share. On average, analysts predict that Murphy Oil will post 3.33 earnings per share for the current fiscal year.

Murphy Oil Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Tuesday, February 18th will be issued a $0.325 dividend. This is a boost from Murphy Oil’s previous quarterly dividend of $0.30. This represents a $1.30 annualized dividend and a yield of 4.87%. The ex-dividend date is Tuesday, February 18th. Murphy Oil’s dividend payout ratio is currently 48.33%.

Institutional Investors Weigh In On Murphy Oil

Institutional investors have recently made changes to their positions in the company. Covestor Ltd lifted its holdings in Murphy Oil by 266.8% during the 3rd quarter. Covestor Ltd now owns 741 shares of the oil and gas producer’s stock worth $25,000 after purchasing an additional 539 shares during the last quarter. Reston Wealth Management LLC bought a new position in Murphy Oil during the 3rd quarter worth $27,000. Compass Wealth Management LLC acquired a new stake in shares of Murphy Oil during the third quarter worth $42,000. Bruce G. Allen Investments LLC boosted its position in shares of Murphy Oil by 106.5% in 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 acquiring an additional 758 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Murphy Oil by 90.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,758 shares of the oil and gas producer’s stock valued at $59,000 after acquiring an additional 833 shares in the last quarter. Institutional investors own 78.31% of the company’s stock.

Murphy Oil Company Profile

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.