Murphy Oil (NYSE:MUR) Price Target Lowered to $39.00 at Piper Sandler

Murphy Oil (NYSE:MUR) had its price objective lowered by Piper Sandler from $42.00 to $39.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the oil and gas producer’s stock. Piper Sandler’s price target would indicate a potential upside of 36.79% from the company’s current price.

Several other research firms have also weighed in on MUR. Morgan Stanley dropped their price objective on shares of Murphy Oil from $43.00 to $39.00 and set an “equal weight” rating on the stock in a research note on Monday, September 16th. Scotiabank cut their price objective on Murphy Oil from $47.00 to $36.00 and set a “sector perform” rating for the company in a report on Thursday, October 10th. Truist Financial reduced their price objective on Murphy Oil from $55.00 to $42.00 and set a “buy” rating for the company in a research report on Monday, September 30th. BMO Capital Markets dropped their target price on Murphy Oil from $42.00 to $40.00 and set a “market perform” rating on the stock in a research report on Friday, October 4th. Finally, UBS Group lowered their price target on Murphy Oil from $38.00 to $34.00 and set a “neutral” rating for the company in a research note on Monday, December 9th. Ten investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $39.58.

Murphy Oil Stock Performance

Shares of Murphy Oil stock opened at $28.51 on Tuesday. The stock has a market cap of $4.16 billion, a PE ratio of 9.20 and a beta of 2.18. Murphy Oil has a 12 month low of $28.38 and a 12 month high of $49.14. The company has a quick ratio of 0.65, a current ratio of 0.71 and a debt-to-equity ratio of 0.24. The business has a fifty day simple moving average of $32.25 and a 200-day simple moving average of $36.05.

Murphy Oil (NYSE:MUR) last released 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 analysts’ expectations of $759.74 million. Murphy Oil had a net margin of 14.78% and a return on equity of 9.22%. The company’s revenue was down 21.0% compared to the same quarter last year. During the same period last year, the firm earned $1.59 EPS. On average, sell-side analysts anticipate that Murphy Oil will post 3.15 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its position in shares of Murphy Oil by 3.3% in the second quarter. Dimensional Fund Advisors LP now owns 8,254,125 shares of the oil and gas producer’s stock valued at $340,400,000 after purchasing an additional 262,256 shares during the last quarter. Geode Capital Management LLC boosted its stake in Murphy Oil by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 3,548,711 shares of the oil and gas producer’s stock valued at $119,755,000 after purchasing an additional 45,432 shares during the period. Hotchkis & Wiley Capital Management LLC grew its holdings in Murphy Oil by 2.3% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 2,627,701 shares of the oil and gas producer’s stock valued at $88,659,000 after buying an additional 58,220 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Murphy Oil by 5.3% during the second quarter. Bank of New York Mellon Corp now owns 2,138,985 shares of the oil and gas producer’s stock worth $88,212,000 after buying an additional 107,462 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its position in shares of Murphy Oil by 3,191.6% in the third quarter. International Assets Investment Management LLC now owns 1,627,268 shares of the oil and gas producer’s stock valued at $54,904,000 after acquiring an additional 1,577,831 shares during the period. 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.