Truist Securities Increases Murphy Oil (NYSE:MUR) Price Target to $21.00

Murphy Oil (NYSE:MUR) had its price objective lifted by equities research analysts at Truist Securities from $17.00 to $21.00 in a research note issued on Monday, Stock Target Advisor reports. Truist Securities’ target price suggests a potential upside of 34.10% from the stock’s previous close.

A number of other equities research analysts also recently issued reports on the stock. Truist upped their price target on shares of Murphy Oil from $17.00 to $21.00 in a research note on Monday. Scotiabank upgraded shares of Murphy Oil from a “sector perform” rating to a “sector outperform” rating and upped their target price for the company from $16.00 to $20.00 in a research report on Thursday, April 15th. Morgan Stanley upped their target price on shares of Murphy Oil from $14.00 to $20.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 17th. Credit Suisse Group decreased their target price on shares of Murphy Oil from $16.00 to $15.00 and set a “neutral” rating on the stock in a research report on Friday, January 29th. Finally, KeyCorp upped their target price on shares of Murphy Oil from $16.00 to $17.00 and gave the company an “overweight” rating in a research report on Thursday, January 21st. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the stock. Murphy Oil currently has a consensus rating of “Hold” and an average price target of $15.77.

MUR stock opened at $15.66 on Monday. Murphy Oil has a 1-year low of $7.00 and a 1-year high of $20.53. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.20 and a quick ratio of 1.09. The company has a market capitalization of $2.41 billion, a price-to-earnings ratio of -2.30 and a beta of 3.33. The business has a 50 day simple moving average of $17.70 and a two-hundred day simple moving average of $13.13.

Murphy Oil (NYSE:MUR) last posted its quarterly earnings results on Wednesday, January 27th. The oil and gas producer reported ($0.09) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.02). Murphy Oil had a negative return on equity of 3.06% and a negative net margin of 46.10%. The business had revenue of $440.10 million during the quarter, compared to the consensus estimate of $477.63 million. During the same quarter in the previous year, the company earned $0.16 earnings per share. The company’s revenue for the quarter was down 41.9% compared to the same quarter last year. Sell-side analysts anticipate that Murphy Oil will post -1.23 EPS for the current fiscal year.

In other Murphy Oil news, Director Robert Madison Murphy sold 75,000 shares of the company’s stock in a transaction dated Monday, March 15th. The shares were sold at an average price of $20.10, for a total value of $1,507,500.00. Also, Director Walentin Mirosh sold 2,500 shares of the company’s stock in a transaction dated Thursday, February 4th. The stock was sold at an average price of $13.01, for a total transaction of $32,525.00. Following the completion of the transaction, the director now owns 22,690 shares in the company, valued at $295,196.90. The disclosure for this sale can be found here. Insiders sold a total of 138,017 shares of company stock worth $2,519,858 over the last 90 days. Insiders own 6.59% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Pzena Investment Management LLC boosted its stake in shares of Murphy Oil by 14.5% during the fourth quarter. Pzena Investment Management LLC now owns 3,217,549 shares of the oil and gas producer’s stock valued at $38,932,000 after purchasing an additional 407,605 shares in the last quarter. Poplar Forest Capital LLC boosted its stake in shares of Murphy Oil by 15.1% during the fourth quarter. Poplar Forest Capital LLC now owns 1,660,960 shares of the oil and gas producer’s stock valued at $20,098,000 after purchasing an additional 217,421 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Murphy Oil by 4.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,014,386 shares of the oil and gas producer’s stock valued at $12,275,000 after purchasing an additional 43,798 shares in the last quarter. Brown Advisory Inc. boosted its stake in shares of Murphy Oil by 0.5% during the fourth quarter. Brown Advisory Inc. now owns 957,047 shares of the oil and gas producer’s stock valued at $11,580,000 after purchasing an additional 4,865 shares in the last quarter. Finally, First Trust Advisors LP boosted its stake in shares of Murphy Oil by 40.6% during the fourth quarter. First Trust Advisors LP now owns 937,159 shares of the oil and gas producer’s stock valued at $11,340,000 after purchasing an additional 270,817 shares in the last quarter. Institutional investors and hedge funds own 78.55% of the company’s stock.

About Murphy Oil

Murphy Oil Corporation operates as an oil and natural 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.

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