UBS Group Has Lowered Expectations for Murphy Oil (NYSE:MUR) Stock Price

Murphy Oil (NYSE:MUR) had its price objective cut by analysts at UBS Group from $38.00 to $34.00 in a report released on Monday,Benzinga reports. The firm currently has a “neutral” rating on the oil and gas producer’s stock. UBS Group’s price objective indicates a potential upside of 12.32% from the stock’s current price.

Several other analysts also recently weighed in on MUR. Piper Sandler lowered their target price on Murphy Oil from $43.00 to $42.00 and set an “overweight” rating for the company in a research note on Monday, November 18th. The Goldman Sachs Group decreased their price target 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. Morgan Stanley decreased their price target 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. Scotiabank decreased their price target on 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. Finally, BMO Capital Markets decreased their price target on Murphy Oil from $42.00 to $40.00 and set a “market perform” rating for the company in a research note on Friday, October 4th. Ten analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Murphy Oil presently has a consensus rating of “Hold” and a consensus price target of $40.25.

Murphy Oil Stock Down 0.9 %

Shares of Murphy Oil stock opened at $30.27 on Monday. The business has a 50-day moving average of $32.92 and a 200-day moving average of $36.53. 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 market capitalization of $4.41 billion, a PE ratio of 9.76 and a beta of 2.18. Murphy Oil has a 1-year low of $29.84 and a 1-year high of $49.14.

Murphy Oil (NYSE:MUR) last announced its earnings results on Thursday, November 7th. The oil and gas producer reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.02). The business had revenue of $758.33 million for the quarter, compared to analyst estimates of $759.74 million. Murphy Oil had a net margin of 14.78% and a return on equity of 9.22%. The firm’s revenue was down 21.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.59 earnings per share. As a group, equities analysts forecast that Murphy Oil will post 3.15 EPS for the current fiscal year.

Hedge Funds Weigh In On Murphy Oil

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Covestor Ltd raised its holdings 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 valued at $25,000 after buying an additional 539 shares during the last quarter. Reston Wealth Management LLC bought a new stake in shares of Murphy Oil during the third quarter valued at approximately $27,000. Compass Wealth Management LLC bought a new stake in shares of Murphy Oil during the third quarter valued at approximately $42,000. Headlands Technologies LLC raised 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 buying an additional 1,205 shares during the last quarter. Finally, Bruce G. Allen Investments LLC raised 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 buying an additional 758 shares during the last quarter. 78.31% of the stock is currently owned by institutional investors and hedge funds.

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.