Murphy Oil (NYSE:MUR) Price Target Cut to $45.00 by Analysts at Mizuho

Murphy Oil (NYSE:MUR) had its price objective dropped by research analysts at Mizuho from $50.00 to $45.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an “outperform” rating on the oil and gas producer’s stock. Mizuho’s price objective indicates a potential upside of 48.56% from the company’s previous close.

Several other brokerages have also recently weighed in on MUR. Barclays reduced their price target on Murphy Oil from $38.00 to $37.00 and set an “equal weight” rating for the company in a research report on Monday, November 11th. UBS Group cut their target price on shares of Murphy Oil from $38.00 to $34.00 and set a “neutral” rating for the company in a research report on Monday, December 9th. KeyCorp lowered their price objective on shares of Murphy Oil from $54.00 to $50.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. BMO Capital Markets reduced their price objective on Murphy Oil from $42.00 to $40.00 and set a “market perform” rating on the stock in a research note on Friday, October 4th. Finally, Truist Financial lowered their target price on Murphy Oil from $55.00 to $42.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Ten investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Murphy Oil currently has an average rating of “Hold” and an average target price of $39.83.

Murphy Oil Stock Down 0.6 %

MUR stock opened at $30.29 on Monday. Murphy Oil has a 1-year low of $29.84 and a 1-year high of $49.14. The stock has a market cap of $4.42 billion, a P/E ratio of 9.77 and a beta of 2.18. The stock’s fifty day simple moving average is $32.62 and its two-hundred day simple moving average is $36.28. The company has a current ratio of 0.71, a quick ratio of 0.65 and a debt-to-equity ratio of 0.24.

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

Hedge Funds Weigh In On Murphy Oil

Several institutional investors have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC raised its position in Murphy Oil by 19.8% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 6,269 shares of the oil and gas producer’s stock worth $259,000 after purchasing an additional 1,036 shares during the period. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Murphy Oil by 6.3% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 13,851 shares of the oil and gas producer’s stock worth $571,000 after buying an additional 815 shares during the period. Raymond James & Associates lifted its stake in shares of Murphy Oil by 5.5% during the 2nd quarter. Raymond James & Associates now owns 121,742 shares of the oil and gas producer’s stock worth $5,021,000 after acquiring an additional 6,341 shares during the last quarter. Fifth Third Wealth Advisors LLC purchased a new position in Murphy Oil during the 2nd quarter valued at $216,000. Finally, Clear Creek Financial Management LLC bought a new position in Murphy Oil in the 2nd quarter valued at $251,000. 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.