Murphy Oil (NYSE:MUR) PT Raised to $56.00

Murphy Oil (NYSE:MUR) had its price target raised by equities researchers at Piper Sandler from $52.00 to $56.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the oil and gas producer’s stock. Piper Sandler’s target price points to a potential upside of 28.21% from the stock’s previous close.

MUR has been the topic of several other reports. KeyCorp raised their target price on Murphy Oil from $47.00 to $53.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 23rd. StockNews.com began coverage on Murphy Oil in a research note on Thursday, October 5th. They issued a “hold” rating on the stock. Evercore ISI lifted their price objective on Murphy Oil from $39.00 to $41.00 in a research report on Thursday, October 12th. Truist Financial cut their price objective on Murphy Oil from $60.00 to $52.00 in a research report on Monday, July 24th. Finally, Morgan Stanley lifted their price objective on Murphy Oil from $46.00 to $48.00 and gave the company an “equal weight” rating in a research report on Monday, October 2nd. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Murphy Oil has an average rating of “Moderate Buy” and an average target price of $49.09.

Murphy Oil Stock Up 3.0 %

NYSE MUR opened at $43.68 on Thursday. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.99 and a quick ratio of 0.93. The stock has a market capitalization of $6.75 billion, a PE ratio of 9.23 and a beta of 2.40. Murphy Oil has a 1 year low of $32.80 and a 1 year high of $48.47. The business’s 50-day moving average is $44.91 and its 200 day moving average is $41.65.

Insider Activity

In other news, Director Elisabeth W. Keller sold 1,116 shares of Murphy Oil stock in a transaction that occurred on Wednesday, September 20th. The shares were sold at an average price of $45.49, for a total transaction of $50,766.84. Following the completion of the transaction, the director now directly owns 7,151 shares in the company, valued at $325,298.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 5.92% of the company’s stock.

Hedge Funds Weigh In On Murphy Oil

Hedge funds have recently added to or reduced their stakes in the company. Headlands Technologies LLC purchased a new position in Murphy Oil in the 1st quarter worth approximately $29,000. Belpointe Asset Management LLC raised its holdings in Murphy Oil by 68.2% in the 1st quarter. Belpointe Asset Management LLC now owns 900 shares of the oil and gas producer’s stock worth $33,000 after acquiring an additional 365 shares during the last quarter. Quent Capital LLC raised its holdings in Murphy Oil by 70.5% in the 2nd quarter. Quent Capital LLC now owns 885 shares of the oil and gas producer’s stock worth $34,000 after acquiring an additional 366 shares during the last quarter. Financial Management Professionals Inc. raised its holdings in Murphy Oil by 7,940.0% in the 3rd quarter. Financial Management Professionals Inc. now owns 804 shares of the oil and gas producer’s stock worth $36,000 after acquiring an additional 794 shares during the last quarter. Finally, Penserra Capital Management LLC purchased a new position in Murphy Oil in the 3rd quarter worth approximately $40,000. 79.30% of the stock is currently owned by hedge funds and other institutional investors.

About Murphy Oil

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.