Murphy Oil (NYSE:MUR) had its target price trimmed by Morgan Stanley from $24.00 to $22.00 in a research report sent to investors on Friday, BenzingaRatingsTable reports. The brokerage currently has an underweight rating on the oil and gas producer’s stock.
Several other equities research analysts also recently weighed in on MUR. Stephens set a $40.00 price target on Murphy Oil and gave the stock a hold rating in a research report on Friday, May 17th. Goldman Sachs Group downgraded Encana to a buy rating in a research report on Friday, April 12th. ValuEngine cut Zosano Pharma from a buy rating to a hold rating in a research report on Wednesday, May 1st. Evercore ISI cut PACCAR from an outperform rating to an in-line rating and raised their target price for the company from $73.00 to $76.00 in a research report on Thursday, May 30th. Finally, Capital One Financial initiated coverage on Murphy Oil in a research report on Wednesday, July 10th. They set an overweight rating and a $37.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company. The company has an average rating of Hold and a consensus target price of $33.89.
NYSE MUR opened at $23.47 on Friday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.56 and a current ratio of 1.61. The firm has a fifty day moving average price of $24.37. Murphy Oil has a 1 year low of $21.51 and a 1 year high of $36.53. The firm has a market cap of $4.12 billion, a P/E ratio of 18.63 and a beta of 1.95.
Murphy Oil (NYSE:MUR) last announced its quarterly earnings results on Thursday, May 2nd. The oil and gas producer reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.05. The company had revenue of $591.00 million for the quarter, compared to the consensus estimate of $557.15 million. Murphy Oil had a return on equity of 4.10% and a net margin of 10.99%. The firm’s revenue for the quarter was up 57.3% compared to the same quarter last year. During the same period last year, the firm earned $0.23 EPS. As a group, sell-side analysts predict that Murphy Oil will post 1.27 earnings per share for the current year.
In related news, insider Thomas J. Mireles sold 7,400 shares of the firm’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $27.60, for a total value of $204,240.00. Following the transaction, the insider now directly owns 21,368 shares of the company’s stock, valued at approximately $589,756.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 6.46% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. Norges Bank purchased a new position in Murphy Oil in the 4th quarter worth approximately $58,361,000. Millennium Management LLC lifted its stake in Murphy Oil by 326.2% in the 4th quarter. Millennium Management LLC now owns 1,604,044 shares of the oil and gas producer’s stock worth $37,519,000 after purchasing an additional 1,227,727 shares in the last quarter. D. E. Shaw & Co. Inc. lifted its stake in Murphy Oil by 247.2% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,271,880 shares of the oil and gas producer’s stock worth $29,750,000 after purchasing an additional 905,542 shares in the last quarter. Amundi Pioneer Asset Management Inc. purchased a new position in Murphy Oil in the 4th quarter worth approximately $19,290,000. Finally, Phocas Financial Corp. purchased a new position in Murphy Oil in the 1st quarter worth approximately $7,114,000. 85.66% of the stock is currently owned by hedge funds and other institutional investors.
Murphy Oil Company Profile
Murphy Oil Corporation operates as an oil and gas exploration and production company in the United States, Canada, Malaysia, 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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