Murphy Oil (NYSE:MUR) Price Target Cut to $49.00 by Analysts at Piper Sandler

Murphy Oil (NYSE:MURGet Rating) had its price target dropped by stock analysts at Piper Sandler to $49.00 in a report released on Wednesday, Stock Target Advisor reports. The brokerage presently has a “na” rating on the oil and gas producer’s stock. Piper Sandler’s target price points to a potential upside of 44.41% from the stock’s current price.

Several other research firms have also recently weighed in on MUR. Truist Financial boosted their price target on Murphy Oil from $41.00 to $60.00 in a research note on Thursday, April 21st. Morgan Stanley upped their price target on Murphy Oil from $35.00 to $53.00 and gave the stock an “equal weight” rating in a research report on Friday, April 22nd. Wells Fargo & Company upped their price target on Murphy Oil from $30.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Friday, March 11th. JPMorgan Chase & Co. lowered Murphy Oil from an “overweight” rating to a “neutral” rating and set a $51.00 price objective for the company. in a research note on Thursday, May 5th. Finally, Mizuho increased their price target on Murphy Oil from $42.00 to $58.00 and gave the company a “buy” rating in a research note on Thursday, March 31st. Four equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Murphy Oil has an average rating of “Buy” and a consensus target price of $49.38.

Murphy Oil stock traded down $2.32 during trading hours on Wednesday, reaching $33.93. The company had a trading volume of 90,641 shares, compared to its average volume of 2,123,930. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.60 and a quick ratio of 0.56. The company has a 50-day moving average price of $39.07 and a 200 day moving average price of $33.17. The firm has a market cap of $5.27 billion, a price-to-earnings ratio of 52.95 and a beta of 2.55. Murphy Oil has a 12-month low of $18.44 and a 12-month high of $44.63.

Murphy Oil (NYSE:MURGet Rating) last issued its quarterly earnings data on Wednesday, May 4th. The oil and gas producer reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.14. Murphy Oil had a return on equity of 7.27% and a net margin of 4.06%. The firm had revenue of $552.90 million for the quarter, compared to analyst estimates of $661.40 million. During the same period last year, the company earned $0.06 EPS. The business’s quarterly revenue was up 45.6% compared to the same quarter last year. As a group, research analysts expect that Murphy Oil will post 4.89 earnings per share for the current year.

In other Murphy Oil news, VP John B. Gardner sold 1,773 shares of the business’s stock in a transaction that occurred on Tuesday, March 22nd. The stock was sold at an average price of $40.86, for a total transaction of $72,444.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Eric M. Hambly sold 5,231 shares of the business’s stock in a transaction that occurred on Thursday, March 10th. The stock was sold at an average price of $36.83, for a total value of $192,657.73. The disclosure for this sale can be found here. Insiders have sold a total of 12,065 shares of company stock valued at $448,552 in the last quarter. Company insiders own 6.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in MUR. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Murphy Oil by 75.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 559,612 shares of the oil and gas producer’s stock worth $13,974,000 after acquiring an additional 240,073 shares during the period. Strs Ohio increased its holdings in Murphy Oil by 203.3% in the fourth quarter. Strs Ohio now owns 18,200 shares of the oil and gas producer’s stock valued at $475,000 after buying an additional 12,200 shares during the last quarter. Pinnacle Wealth Planning Services Inc. acquired a new position in Murphy Oil in the fourth quarter valued at $277,000. Dupont Capital Management Corp acquired a new position in Murphy Oil in the fourth quarter valued at $198,000. Finally, Dimensional Fund Advisors LP boosted its stake in Murphy Oil by 3.8% in the third quarter. Dimensional Fund Advisors LP now owns 8,209,266 shares of the oil and gas producer’s stock valued at $204,987,000 after acquiring an additional 296,723 shares in the last quarter. 76.37% of the stock is currently owned by institutional investors.

About Murphy Oil (Get Rating)

Murphy Oil Corporation, together with its subsidiaries, 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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