Murphy Oil (NYSE:MUR) Upgraded to Buy by StockNews.com

StockNews.com upgraded shares of Murphy Oil (NYSE:MURGet Rating) from a hold rating to a buy rating in a research note published on Friday morning.

Other research analysts have also issued research reports about the stock. JPMorgan Chase & Co. lowered shares of Murphy Oil from an overweight rating to a neutral rating and set a $51.00 price target on the stock. in a research note on Thursday, May 5th. Mizuho lowered their target price on shares of Murphy Oil from $59.00 to $51.00 and set a buy rating on the stock in a research note on Tuesday, July 19th. Piper Sandler lowered their target price on shares of Murphy Oil from $49.00 to $47.00 and set an overweight rating on the stock in a research note on Friday, July 22nd. The Goldman Sachs Group lowered their target price on shares of Murphy Oil from $45.00 to $34.00 and set a neutral rating on the stock in a research note on Tuesday, July 5th. Finally, Truist Financial raised their target price on shares of Murphy Oil from $41.00 to $60.00 in a research note on Thursday, April 21st. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $46.00.

Murphy Oil Stock Performance

Shares of MUR opened at $32.60 on Friday. The company’s fifty day moving average is $34.43 and its 200-day moving average is $35.88. Murphy Oil has a 12 month low of $18.83 and a 12 month high of $45.79. The firm has a market cap of $5.07 billion, a price-to-earnings ratio of 9.94 and a beta of 2.56. The company has a quick ratio of 0.56, a current ratio of 0.66 and a debt-to-equity ratio of 0.51.

Murphy Oil (NYSE:MURGet Rating) last announced its quarterly earnings results on Thursday, August 4th. The oil and gas producer reported $1.93 EPS for the quarter, topping the consensus estimate of $1.56 by $0.37. Murphy Oil had a net margin of 17.00% and a return on equity of 12.07%. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $880.87 million. During the same quarter in the prior year, the business posted $0.59 EPS. Murphy Oil’s quarterly revenue was up 100.3% on a year-over-year basis. Equities analysts expect that Murphy Oil will post 5.21 EPS for the current fiscal year.

Murphy Oil Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 1st. Shareholders of record on Monday, August 15th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, August 12th. This is an increase from Murphy Oil’s previous quarterly dividend of $0.18. This represents a $1.00 dividend on an annualized basis and a yield of 3.07%. Murphy Oil’s dividend payout ratio is 21.34%.

Insider Buying and Selling at Murphy Oil

In other Murphy Oil news, SVP E Ted Botner sold 10,128 shares of the stock in a transaction on Thursday, June 9th. The shares were sold at an average price of $45.00, for a total value of $455,760.00. Following the completion of the sale, the senior vice president now directly owns 68,864 shares of the company’s stock, valued at approximately $3,098,880. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, SVP E Ted Botner sold 10,128 shares of the firm’s stock in a transaction dated Thursday, June 9th. The shares were sold at an average price of $45.00, for a total transaction of $455,760.00. Following the completion of the transaction, the senior vice president now directly owns 68,864 shares of the company’s stock, valued at approximately $3,098,880. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Elisabeth W. Keller sold 2,756 shares of the firm’s stock in a transaction dated Tuesday, May 10th. The stock was sold at an average price of $32.39, for a total transaction of $89,266.84. Following the transaction, the director now directly owns 8,267 shares of the company’s stock, valued at $267,768.13. The disclosure for this sale can be found here. Insiders sold a total of 282,498 shares of company stock valued at $12,204,359 in the last ninety days. Company insiders own 6.20% of the company’s stock.

Hedge Funds Weigh In On Murphy Oil

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Quent Capital LLC lifted its holdings in shares of Murphy Oil by 36.8% during the 1st quarter. Quent Capital LLC now owns 1,127 shares of the oil and gas producer’s stock worth $46,000 after acquiring an additional 303 shares during the period. Advisor Partners LLC increased its position in shares of Murphy Oil by 1.5% during the 4th quarter. Advisor Partners LLC now owns 21,697 shares of the oil and gas producer’s stock worth $567,000 after purchasing an additional 322 shares in the last quarter. Eaton Vance Management increased its position in shares of Murphy Oil by 0.4% during the 4th quarter. Eaton Vance Management now owns 84,731 shares of the oil and gas producer’s stock worth $1,700,000 after purchasing an additional 322 shares in the last quarter. Northwestern Mutual Investment Management Company LLC increased its position in shares of Murphy Oil by 1.4% during the 2nd quarter. Northwestern Mutual Investment Management Company LLC now owns 24,446 shares of the oil and gas producer’s stock worth $738,000 after purchasing an additional 331 shares in the last quarter. Finally, Advisory Services Network LLC increased its position in shares of Murphy Oil by 1.4% during the 1st quarter. Advisory Services Network LLC now owns 25,357 shares of the oil and gas producer’s stock worth $1,024,000 after purchasing an additional 344 shares in the last quarter. 76.37% of the stock is owned by institutional investors.

Murphy Oil Company Profile

(Get Rating)

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.

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Analyst Recommendations for Murphy Oil (NYSE:MUR)

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