Murphy Oil (NYSE:MUR) Now Covered by BMO Capital Markets

BMO Capital Markets initiated coverage on shares of Murphy Oil (NYSE:MUR) in a research note issued to investors on Monday morning, BenzingaRatingsTable reports. The firm issued an outperform rating and a $27.00 price objective on the oil and gas producer’s stock.

Several other equities research analysts have also commented on MUR. Morgan Stanley reduced their price objective on Murphy Oil from $24.00 to $22.00 and set an underweight rating for the company in a research note on Friday, July 12th. Credit Suisse Group reduced their price objective on Murphy Oil from $30.00 to $25.00 and set a neutral rating for the company in a research note on Friday, August 9th. MKM Partners set a $38.00 price objective on Murphy Oil and gave the stock a buy rating in a research note on Monday, August 12th. KeyCorp initiated coverage on Murphy Oil in a research note on Monday, September 9th. They issued an overweight rating and a $24.00 price objective for the company. Finally, Wells Fargo & Co reduced their price objective on Murphy Oil from $28.00 to $23.00 and set a market perform rating for the company in a research note on Friday, September 6th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $31.13.

MUR traded down $0.43 during mid-day trading on Monday, reaching $21.47. 14,887 shares of the company traded hands, compared to its average volume of 3,576,443. The company has a quick ratio of 1.21, a current ratio of 1.25 and a debt-to-equity ratio of 0.91. The stock has a market capitalization of $3.52 billion, a P/E ratio of 16.99 and a beta of 2.03. Murphy Oil has a 52-week low of $17.04 and a 52-week high of $36.53. The company’s fifty day moving average price is $20.32 and its 200-day moving average price is $24.30.

Murphy Oil (NYSE:MUR) last posted its quarterly earnings data on Thursday, August 8th. The oil and gas producer reported $0.21 EPS for the quarter, topping the consensus estimate of $0.18 by $0.03. The firm had revenue of $709.00 million during the quarter, compared to analyst estimates of $612.71 million. Murphy Oil had a return on equity of 3.48% and a net margin of 12.37%. Murphy Oil’s revenue was up 81.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.36 EPS. As a group, sell-side analysts forecast that Murphy Oil will post 0.88 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.00 dividend on an annualized basis and a yield of 4.66%. Murphy Oil’s payout ratio is presently 79.37%.

In other Murphy Oil news, Director Walentin Mirosh sold 1,360 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $18.52, for a total value of $25,187.20. Following the completion of the sale, the director now owns 25,365 shares in the company, valued at approximately $469,759.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 6.46% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Tower Research Capital LLC TRC purchased a new stake in Murphy Oil in the 2nd quarter worth $72,000. Oppenheimer Asset Management Inc. increased its stake in Murphy Oil by 10.8% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 5,768 shares of the oil and gas producer’s stock worth $142,000 after buying an additional 560 shares in the last quarter. Macquarie Group Ltd. purchased a new stake in Murphy Oil in the 2nd quarter worth $205,000. Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in Murphy Oil in the 1st quarter worth $250,000. Finally, Qube Research & Technologies Ltd purchased a new stake in Murphy Oil in the 2nd quarter worth $219,000. Institutional investors and hedge funds own 90.20% of the company’s stock.

Murphy Oil Company Profile

Murphy Oil Corporation operates as an oil and gas exploration and production company in the United States, Canada, Malaysia, 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.

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Analyst Recommendations for Murphy Oil (NYSE:MUR)

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