Mizuho Lowers Murphy Oil (NYSE:MUR) Price Target to $50.00

Murphy Oil (NYSE:MUR) had its price target dropped by equities research analysts at Mizuho from $59.00 to $50.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has an “outperform” rating on the oil and gas producer’s stock. Mizuho’s price objective would suggest a potential upside of 45.48% from the stock’s previous close.

A number of other equities research analysts have also commented on the company. Wolfe Research assumed coverage on Murphy Oil in a research report on Thursday, July 18th. They issued a “peer perform” rating on the stock. StockNews.com lowered Murphy Oil from a “buy” rating to a “hold” rating in a research note on Tuesday, June 18th. Scotiabank downgraded shares of Murphy Oil from a “strong-buy” rating to a “hold” rating in a report on Friday, August 9th. Barclays lowered their price target on Murphy Oil from $54.00 to $46.00 and set an “equal weight” rating for the company in a report on Monday, August 12th. Finally, UBS Group dropped their price target on shares of Murphy Oil from $49.00 to $45.00 and set a “neutral” rating for the company in a research report on Tuesday, August 13th. Eight analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $46.36.

Murphy Oil Stock Up 0.6 %

Murphy Oil stock traded up $0.20 during trading hours on Monday, reaching $34.37. The stock had a trading volume of 120,973 shares, compared to its average volume of 1,659,156. Murphy Oil has a 52 week low of $33.15 and a 52 week high of $49.14. The company has a market cap of $5.24 billion, a price-to-earnings ratio of 9.56 and a beta of 2.21. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.82 and a quick ratio of 0.76. The business’s 50 day moving average price is $38.17 and its 200-day moving average price is $41.42.

Murphy Oil (NYSE:MUR) last posted its quarterly earnings results on Thursday, August 8th. The oil and gas producer reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.08. Murphy Oil had a net margin of 17.32% and a return on equity of 11.68%. The business had revenue of $802.80 million during the quarter, compared to analysts’ expectations of $813.97 million. During the same quarter last year, the company posted $0.79 earnings per share. The business’s quarterly revenue was down 1.4% on a year-over-year basis. Sell-side analysts anticipate that Murphy Oil will post 3.99 EPS for the current year.

Institutional Investors Weigh In On Murphy Oil

Hedge funds and other institutional investors have recently made changes to their positions in the business. Mather Group LLC. grew its holdings in Murphy Oil by 1,015.7% in the 2nd quarter. Mather Group LLC. now owns 569 shares of the oil and gas producer’s stock valued at $26,000 after buying an additional 518 shares during the period. Rise Advisors LLC purchased a new position in Murphy Oil during the first quarter worth approximately $30,000. Lindbrook Capital LLC grew its stake in shares of Murphy Oil by 47.7% during the 1st quarter. Lindbrook Capital LLC now owns 721 shares of the oil and gas producer’s stock valued at $33,000 after buying an additional 233 shares during the period. Headlands Technologies LLC increased its holdings in shares of Murphy Oil by 1,434.5% during the 2nd quarter. Headlands Technologies LLC now owns 1,289 shares of the oil and gas producer’s stock worth $53,000 after buying an additional 1,205 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. boosted its holdings in Murphy Oil by 27.0% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 2,105 shares of the oil and gas producer’s stock valued at $96,000 after acquiring an additional 447 shares during the last quarter. Hedge funds and other institutional investors own 78.31% of the company’s stock.

Murphy Oil Company Profile

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.