Wells Fargo & Company Lowers Murphy Oil (NYSE:MUR) Price Target to $26.00

Murphy Oil (NYSE:MUR) had its target price dropped by research analysts at Wells Fargo & Company from $28.00 to $26.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the oil and gas producer’s stock. Wells Fargo & Company‘s price objective suggests a potential downside of 6.76% from the company’s current price.

Other equities research analysts have also recently issued reports about the company. Zacks Research cut Murphy Oil from a “hold” rating to a “strong sell” rating in a report on Monday, September 15th. Scotiabank raised their price target on Murphy Oil from $26.00 to $30.00 and gave the company a “sector perform” rating in a report on Thursday, October 9th. Barclays raised their price target on Murphy Oil from $22.00 to $23.00 and gave the company an “underweight” rating in a report on Monday, July 7th. Piper Sandler boosted their target price on Murphy Oil from $30.00 to $32.00 and gave the stock an “overweight” rating in a research report on Thursday, August 14th. Finally, Mizuho decreased their target price on Murphy Oil from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Monday, September 15th. One equities research analyst has rated the stock with a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $28.08.

Murphy Oil Price Performance

NYSE:MUR opened at $27.88 on Friday. The company has a quick ratio of 0.77, a current ratio of 0.84 and a debt-to-equity ratio of 0.28. The business’s 50-day simple moving average is $26.35 and its two-hundred day simple moving average is $24.12. The stock has a market cap of $3.98 billion, a PE ratio of 14.45 and a beta of 1.03. Murphy Oil has a 52 week low of $18.94 and a 52 week high of $34.52.

Murphy Oil (NYSE:MUR) last posted its quarterly earnings results on Monday, March 21st. The oil and gas producer reported ($0.09) EPS for the quarter. The business had revenue of $440.08 million for the quarter. Murphy Oil had a net margin of 10.20% and a return on equity of 5.25%. As a group, analysts forecast that Murphy Oil will post 2.94 EPS for the current fiscal year.

Institutional Investors Weigh In On Murphy Oil

Several large investors have recently added to or reduced their stakes in MUR. GAMMA Investing LLC increased its stake in Murphy Oil by 146.5% during the first quarter. GAMMA Investing LLC now owns 3,106 shares of the oil and gas producer’s stock worth $88,000 after acquiring an additional 1,846 shares during the last quarter. SG Americas Securities LLC bought a new stake in Murphy Oil during the first quarter worth approximately $672,000. Wealth Enhancement Advisory Services LLC increased its stake in Murphy Oil by 54.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 12,151 shares of the oil and gas producer’s stock worth $345,000 after acquiring an additional 4,270 shares during the last quarter. QRG Capital Management Inc. increased its stake in Murphy Oil by 12.4% during the first quarter. QRG Capital Management Inc. now owns 13,569 shares of the oil and gas producer’s stock worth $385,000 after acquiring an additional 1,493 shares during the last quarter. Finally, Grace & White Inc. NY increased its stake in Murphy Oil by 18.1% during the first quarter. Grace & White Inc. NY now owns 178,402 shares of the oil and gas producer’s stock worth $5,067,000 after acquiring an additional 27,350 shares during the last quarter. 78.31% of the stock is owned by institutional investors.

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.