Murphy Oil (NYSE:MUR) PT Raised to $68.00

Murphy Oil (NYSE:MURGet Rating) had its target price upped by Piper Sandler from $62.00 to $68.00 in a report released on Thursday, The Fly reports. The brokerage currently has an overweight rating on the oil and gas producer’s stock.

MUR has been the subject of a number of other reports. The Goldman Sachs Group raised their target price on Murphy Oil from $38.00 to $44.00 and gave the stock a neutral rating in a research note on Wednesday, October 19th. StockNews.com downgraded Murphy Oil from a buy rating to a hold rating in a research note on Wednesday, October 26th. Truist Financial raised their target price on Murphy Oil from $61.00 to $73.00 and gave the stock a buy rating in a research note on Thursday, September 15th. Jefferies Financial Group initiated coverage on Murphy Oil in a research note on Wednesday, October 19th. They issued a hold rating and a $46.00 target price for the company. Finally, Mizuho raised their target price on Murphy Oil from $51.00 to $53.00 and gave the stock a buy rating in a research note on Monday, October 24th. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $52.11.

Murphy Oil Stock Down 1.8 %

NYSE MUR opened at $47.26 on Thursday. Murphy Oil has a one year low of $23.50 and a one year high of $51.28. The company has a market cap of $7.35 billion, a P/E ratio of 7.96 and a beta of 2.47. The business has a fifty day moving average price of $43.38 and a 200 day moving average price of $38.25. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.74 and a current ratio of 0.78.

Murphy Oil Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Monday, November 14th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date is Thursday, November 10th. Murphy Oil’s dividend payout ratio (DPR) is 16.84%.

Insider Activity at Murphy Oil

In related news, Director T Jay Collins sold 5,000 shares of the firm’s stock in a transaction dated 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 directly owns 10,137 shares in the company, valued at approximately $408,723.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director T Jay Collins sold 5,000 shares of the firm’s stock in a transaction dated 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 directly owns 10,137 shares in the company, valued at approximately $408,723.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Maria A. Martinez sold 7,500 shares of the firm’s stock in a transaction dated Friday, November 11th. The shares were sold at an average price of $50.59, for a total value of $379,425.00. Following the transaction, the vice president now owns 7,531 shares of the company’s stock, valued at $380,993.29. The disclosure for this sale can be found here. Insiders sold 285,754 shares of company stock worth $14,117,095 in the last three months. 6.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Murphy Oil

Several hedge funds and other institutional investors have recently made changes to their positions in MUR. Prudential Financial Inc. boosted its stake 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 stake in shares of Murphy Oil during the 2nd quarter worth about $31,190,000. Point72 Asset Management L.P. acquired a new stake in shares of Murphy Oil during the 2nd quarter worth about $23,246,000. BlackRock Inc. raised its position in shares of Murphy Oil by 4.4% during the 1st quarter. BlackRock Inc. now owns 17,444,116 shares of the oil and gas producer’s stock worth $704,568,000 after acquiring an additional 729,319 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Murphy Oil by 153.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,196,944 shares of the oil and gas producer’s stock worth $36,137,000 after acquiring an additional 724,779 shares in the last quarter. Hedge funds and other 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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