Murphy Oil (NYSE:MUR) PT Lowered to $42.00

Murphy Oil (NYSE:MUR) had its price objective lowered by Truist Financial from $55.00 to $42.00 in a research note released on Monday morning, Benzinga reports. The firm currently has a buy rating on the oil and gas producer’s stock.

A number of other analysts have also issued reports on MUR. Morgan Stanley decreased their target price on shares of Murphy Oil from $43.00 to $39.00 and set an equal weight rating on the stock in a research report on Monday, September 16th. JPMorgan Chase & Co. decreased their target price on shares of Murphy Oil from $47.00 to $39.00 and set a neutral rating on the stock in a research report on Thursday, September 12th. Mizuho decreased their target price on shares of Murphy Oil from $59.00 to $50.00 and set an outperform rating on the stock in a research report on Monday, September 16th. Wolfe Research assumed coverage on shares of Murphy Oil in a research report on Thursday, July 18th. They set a peer perform rating on the stock. Finally, Wells Fargo & Company cut their price target on shares of Murphy Oil from $41.00 to $39.00 and set an equal weight rating on the stock in a research note on Friday, September 27th. Eight investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Hold and an average target price of $42.91.

Murphy Oil Stock Up 2.8 %

MUR stock opened at $35.61 on Monday. The company’s 50 day simple moving average is $36.53 and its 200-day simple moving average is $40.84. The firm has a market capitalization of $5.43 billion, a PE ratio of 9.92 and a beta of 2.21. Murphy Oil has a 12 month low of $32.53 and a 12 month high of $49.14. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.82 and a quick ratio of 0.76.

Murphy Oil (NYSE:MUR) last announced its 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 firm had revenue of $802.80 million for the quarter, compared to analyst estimates of $813.97 million. During the same quarter last year, the business earned $0.79 earnings per share. Murphy Oil’s revenue was down 1.4% compared to the same quarter last year. Equities analysts expect that Murphy Oil will post 3.57 earnings per share for the current fiscal year.

Murphy Oil Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date is Monday, November 18th. Murphy Oil’s dividend payout ratio is presently 33.43%.

Hedge Funds Weigh In On Murphy Oil

A number of hedge funds have recently made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. raised its stake in shares of Murphy Oil by 235.2% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 5,799 shares of the oil and gas producer’s stock valued at $239,000 after acquiring an additional 4,069 shares during the period. Cetera Investment Advisers increased its stake in Murphy Oil by 4.3% during the 2nd quarter. Cetera Investment Advisers now owns 38,804 shares of the oil and gas producer’s stock worth $1,600,000 after buying an additional 1,609 shares during the period. Quarry LP increased its stake in Murphy Oil by 102.9% during the 2nd quarter. Quarry LP now owns 70,244 shares of the oil and gas producer’s stock worth $2,897,000 after buying an additional 35,621 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in Murphy Oil by 16.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,140 shares of the oil and gas producer’s stock worth $129,000 after buying an additional 438 shares during the period. Finally, Creative Planning increased its stake in Murphy Oil by 15.9% during the 2nd quarter. Creative Planning now owns 36,892 shares of the oil and gas producer’s stock worth $1,521,000 after buying an additional 5,068 shares during the period. 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.