Murphy Oil (NYSE:MUR) PT Raised to $73.00 at Truist Financial

Murphy Oil (NYSE:MURGet Rating) had its target price upped by equities researchers at Truist Financial from $61.00 to $73.00 in a research note issued to investors on Thursday, The Fly reports. The firm currently has a “buy” rating on the oil and gas producer’s stock. Truist Financial’s price target would indicate a potential upside of 80.02% from the company’s current price.

MUR has been the subject of several other research reports. Morgan Stanley cut their price target on Murphy Oil from $53.00 to $49.00 and set an “equal weight” rating for the company in a report on Monday, June 6th. MKM Partners reissued a “buy” rating and issued a $38.00 target price on shares of Murphy Oil in a report on Wednesday, July 20th. StockNews.com raised Murphy Oil from a “hold” rating to a “buy” rating in a report on Thursday. Piper Sandler dropped their target price on Murphy Oil from $49.00 to $47.00 and set an “overweight” rating for the company in a report on Friday, July 22nd. Finally, Mizuho dropped their target price on Murphy Oil from $59.00 to $51.00 and set a “buy” rating for the company in a report on Tuesday, July 19th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $48.13.

Murphy Oil Stock Down 1.2 %

MUR stock opened at $40.55 on Thursday. Murphy Oil has a twelve month low of $19.48 and a twelve month high of $45.79. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 0.51. The company has a market cap of $6.30 billion, a PE ratio of 12.36 and a beta of 2.48. The business’s 50-day simple moving average is $34.83 and its 200 day simple moving average is $36.93.

Murphy Oil (NYSE:MURGet Rating) last posted its quarterly earnings results on Thursday, August 4th. The oil and gas producer reported $1.93 EPS for the quarter, beating the consensus estimate of $1.56 by $0.37. The firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $880.87 million. Murphy Oil had a return on equity of 12.07% and a net margin of 17.00%. The company’s revenue for the quarter was up 100.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.59 EPS. On average, research analysts anticipate that Murphy Oil will post 6.14 earnings per share for the current year.

Insider Transactions at Murphy Oil

In related news, CFO Thomas J. Mireles sold 5,540 shares of the firm’s stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $36.30, for a total value of $201,102.00. Following the completion of the sale, the chief financial officer now owns 51,758 shares of the company’s stock, valued at $1,878,815.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CFO Thomas J. Mireles sold 5,540 shares of the business’s stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $36.30, for a total value of $201,102.00. Following the completion of the transaction, the chief financial officer now owns 51,758 shares in the company, valued at approximately $1,878,815.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director T Jay Collins sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 13th. The stock was sold at an average price of $40.32, for a total transaction of $201,600.00. Following the completion of the transaction, the director now owns 10,137 shares of the company’s stock, valued at approximately $408,723.84. The disclosure for this sale can be found here. 6.20% of the stock is owned by company insiders.

Institutional Trading of Murphy Oil

Several institutional investors and hedge funds have recently made changes to their positions in MUR. Prudential Financial Inc. grew its holdings in shares of Murphy Oil by 293.0% in the 2nd quarter. Prudential Financial Inc. now owns 1,404,552 shares of the oil and gas producer’s stock valued at $42,409,000 after buying an additional 1,047,146 shares during the period. Encompass Capital Advisors LLC acquired a new position in shares of Murphy Oil in the 2nd quarter valued at $31,190,000. Point72 Asset Management L.P. acquired a new position in shares of Murphy Oil in the 2nd quarter valued at $23,246,000. BlackRock Inc. grew its holdings in shares of Murphy Oil by 4.4% in the 1st quarter. BlackRock Inc. now owns 17,444,116 shares of the oil and gas producer’s stock valued at $704,568,000 after buying an additional 729,319 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in shares of Murphy Oil by 153.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,196,944 shares of the oil and gas producer’s stock valued at $36,137,000 after buying an additional 724,779 shares during the period. Institutional investors own 77.38% of the company’s stock.

About Murphy Oil

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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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