JPMorgan Chase & Co. Issues Pessimistic Forecast for Murphy Oil (NYSE:MUR) Stock Price

Murphy Oil (NYSE:MUR) had its price target trimmed by JPMorgan Chase & Co. from $33.00 to $28.00 in a report issued on Thursday morning,Benzinga reports. They currently have a neutral rating on the oil and gas producer’s stock.

Other research analysts have also issued reports about the company. Truist Financial lowered Murphy Oil from a “buy” rating to a “hold” rating and cut their target price for the company from $42.00 to $31.00 in a research note on Friday, January 31st. Wells Fargo & Company restated an “equal weight” rating on shares of Murphy Oil in a research note on Monday, February 3rd. Roth Capital set a $37.00 target price on Murphy Oil in a research note on Thursday, January 23rd. Mizuho cut their target price on Murphy Oil from $50.00 to $45.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Finally, KeyCorp cut their target price on Murphy Oil from $50.00 to $37.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $35.46.

Murphy Oil Stock Up 4.7 %

Shares of MUR stock opened at $26.06 on Thursday. Murphy Oil has a 12 month low of $22.90 and a 12 month high of $49.14. The firm has a market cap of $3.80 billion, a PE ratio of 9.69 and a beta of 2.18. The stock has a 50 day moving average of $28.44 and a 200-day moving average of $31.31. The company has a quick ratio of 0.77, a current ratio of 0.83 and a debt-to-equity ratio of 0.24.

Murphy Oil (NYSE:MUR) last issued its quarterly earnings results 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 period last year, the business earned $0.90 EPS. On average, equities analysts predict that Murphy Oil will post 2.94 EPS for the current year.

Murphy Oil Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 18th were paid a dividend of $0.325 per share. This is a positive change from Murphy Oil’s previous quarterly dividend of $0.30. This represents a $1.30 annualized dividend and a yield of 4.99%. The ex-dividend date of this dividend was Tuesday, February 18th. Murphy Oil’s dividend payout ratio is currently 48.33%.

Insider Transactions at Murphy Oil

In other Murphy Oil news, Director Claiborne P. Deming bought 50,000 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The shares were bought at an average price of $26.47 per share, for a total transaction of $1,323,500.00. Following the completion of the acquisition, the director now owns 931,651 shares of the company’s stock, valued at approximately $24,660,801.97. This trade represents a 5.67 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Meenambigai Palanivelu bought 1,573 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The shares were acquired at an average price of $26.70 per share, for a total transaction of $41,999.10. Following the acquisition, the vice president now directly owns 37,065 shares of the company’s stock, valued at approximately $989,635.50. The trade was a 4.43 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 5.95% of the company’s stock.

Hedge Funds Weigh In On Murphy Oil

Hedge funds have recently added to or reduced their stakes in the company. Covestor Ltd boosted its holdings in Murphy Oil by 266.8% in the third quarter. Covestor Ltd now owns 741 shares of the oil and gas producer’s stock valued at $25,000 after acquiring an additional 539 shares during the last quarter. Huntington National Bank boosted its holdings in Murphy Oil by 342.8% in the fourth quarter. Huntington National Bank now owns 828 shares of the oil and gas producer’s stock valued at $25,000 after acquiring an additional 641 shares during the last quarter. GeoWealth Management LLC bought a new position in Murphy Oil in the fourth quarter valued at about $39,000. Lindbrook Capital LLC boosted its holdings in Murphy Oil by 60.5% in the fourth quarter. Lindbrook Capital LLC now owns 1,441 shares of the oil and gas producer’s stock valued at $44,000 after acquiring an additional 543 shares during the last quarter. Finally, Headlands Technologies LLC boosted its holdings in Murphy Oil by 32.9% in the fourth quarter. Headlands Technologies LLC now owns 1,903 shares of the oil and gas producer’s stock valued at $58,000 after acquiring an additional 471 shares during the last quarter. 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.