Murphy Oil (NYSE:MUR) Price Target Raised to $10.00

Murphy Oil (NYSE:MUR) had its price target lifted by Morgan Stanley from $9.00 to $10.00 in a research note released on Wednesday, BenzingaRatingsTable reports. They currently have an underweight rating on the oil and gas producer’s stock.

MUR has been the topic of several other research reports. Piper Sandler increased their price target on Murphy Oil from $4.00 to $6.00 and gave the company a neutral rating in a report on Tuesday, May 19th. ValuEngine raised shares of Murphy Oil from a hold rating to a buy rating in a research note on Friday, May 1st. Wells Fargo & Co cut shares of Murphy Oil from an overweight rating to an equal weight rating and set a $10.00 price target for the company. in a research note on Friday, May 8th. BMO Capital Markets lowered shares of Murphy Oil from an outperform rating to a market perform rating and set a $9.00 price objective on the stock. in a research report on Tuesday, April 28th. Finally, Mizuho upgraded Murphy Oil from an underperform rating to a neutral rating and boosted their target price for the company from $8.00 to $16.00 in a research report on Friday, June 19th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $15.27.

Shares of NYSE:MUR opened at $12.98 on Wednesday. The firm has a fifty day simple moving average of $13.89 and a two-hundred day simple moving average of $15.68. Murphy Oil has a 52 week low of $4.50 and a 52 week high of $28.12. The company has a quick ratio of 1.32, a current ratio of 1.40 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $1.88 billion, a P/E ratio of 28.42 and a beta of 3.27.

Murphy Oil (NYSE:MUR) last released its quarterly earnings results on Wednesday, May 6th. The oil and gas producer reported ($0.30) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.45) by $0.15. Murphy Oil had a return on equity of 1.30% and a net margin of 21.89%. The company had revenue of $1 billion during the quarter, compared to analyst estimates of $600.87 million. During the same quarter last year, the business posted $0.15 earnings per share. The firm’s revenue was up 59.2% on a year-over-year basis. On average, analysts expect that Murphy Oil will post -2.41 earnings per share for the current year.

In related news, VP Christopher D. Hulse sold 5,000 shares of the company’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $15.67, for a total value of $78,350.00. Also, VP Christopher D. Hulse sold 4,447 shares of the stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $17.12, for a total transaction of $76,132.64. Following the transaction, the vice president now owns 9,179 shares in the company, valued at $157,144.48. The disclosure for this sale can be found here. 6.59% of the stock is currently owned by insiders.

A number of hedge funds have recently modified their holdings of the stock. AXA bought a new stake in Murphy Oil during the 1st quarter valued at $62,000. Ellevest Inc. lifted its stake in shares of Murphy Oil by 218.5% during the 2nd quarter. Ellevest Inc. now owns 4,975 shares of the oil and gas producer’s stock worth $69,000 after purchasing an additional 3,413 shares during the last quarter. Chevy Chase Trust Holdings Inc. bought a new stake in Murphy Oil during the fourth quarter valued at about $73,000. Pensionmark Financial Group LLC purchased a new position in Murphy Oil in the first quarter valued at about $73,000. Finally, Trustmark National Bank Trust Department bought a new position in Murphy Oil in the first quarter worth about $74,000. 97.26% of the stock is currently owned by institutional investors.

About Murphy Oil

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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Analyst Recommendations for Murphy Oil (NYSE:MUR)

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