Murphy Oil Corporation (NYSE:MUR) Given Consensus Recommendation of “Reduce” by Analysts

Murphy Oil Corporation (NYSE:MUR) has been assigned a consensus rating of “Reduce” from the fifteen analysts that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation and thirteen have issued a hold recommendation on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $29.0833.

Several research analysts recently issued reports on the stock. Wells Fargo & Company increased their price target on shares of Murphy Oil from $26.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Friday, November 14th. Piper Sandler restated a “neutral” rating and issued a $34.00 price objective on shares of Murphy Oil in a report on Tuesday, November 18th. Mizuho lifted their target price on shares of Murphy Oil from $30.00 to $33.00 and gave the company a “neutral” rating in a report on Friday, December 12th. Weiss Ratings reissued a “hold (c)” rating on shares of Murphy Oil in a research report on Monday, December 22nd. Finally, Morgan Stanley lowered their price objective on Murphy Oil from $28.00 to $27.00 and set an “underweight” rating for the company in a research note on Tuesday, October 14th.

Institutional Investors Weigh In On Murphy Oil

Several institutional investors and hedge funds have recently made changes to their positions in the company. IFP Advisors Inc raised its holdings in Murphy Oil by 69.4% in the 3rd quarter. IFP Advisors Inc now owns 6,326 shares of the oil and gas producer’s stock worth $182,000 after acquiring an additional 2,591 shares during the last quarter. CIBC Bancorp USA Inc. purchased a new position in shares of Murphy Oil in the third quarter worth $410,000. Coldstream Capital Management Inc. purchased a new position in shares of Murphy Oil in the third quarter worth $204,000. Hancock Whitney Corp bought a new position in shares of Murphy Oil during the third quarter valued at $1,545,000. Finally, CANADA LIFE ASSURANCE Co boosted its position in shares of Murphy Oil by 1.1% during the third quarter. CANADA LIFE ASSURANCE Co now owns 79,717 shares of the oil and gas producer’s stock valued at $2,308,000 after buying an additional 838 shares during the last quarter. Institutional investors own 78.31% of the company’s stock.

Murphy Oil Trading Up 1.2%

MUR opened at $31.54 on Tuesday. The stock has a market cap of $4.50 billion, a PE ratio of 32.19 and a beta of 0.81. The business has a 50 day moving average of $30.42 and a 200-day moving average of $27.30. Murphy Oil has a 52 week low of $18.94 and a 52 week high of $34.52. The company has a quick ratio of 0.87, a current ratio of 0.94 and a debt-to-equity ratio of 0.27.

Murphy Oil (NYSE:MUR) last posted its quarterly earnings data on Monday, March 21st. The oil and gas producer reported ($0.09) earnings per share (EPS) for the quarter. Murphy Oil had a return on equity of 4.30% and a net margin of 5.16%.The firm had revenue of $440.08 million during the quarter. Equities research analysts predict that Murphy Oil will post 2.94 earnings per share for the current fiscal year.

Murphy Oil Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Monday, November 17th were issued a $0.325 dividend. The ex-dividend date of this dividend was Monday, November 17th. This represents a $1.30 annualized dividend and a yield of 4.1%. Murphy Oil’s payout ratio is 132.65%.

About Murphy Oil

Murphy Oil Corporation is an independent upstream oil and gas company engaged in the exploration, development and production of crude oil, natural gas and natural gas liquids. The company’s operations encompass conventional onshore and offshore reservoirs, with an emphasis on liquids-rich properties and deepwater assets. Through a combination of proprietary technologies and strategic joint ventures, Murphy Oil seeks to optimize recovery rates and manage its portfolio to balance long-term resource development with operational flexibility.

Murphy Oil’s exploration and production activities are geographically diversified.