Mizuho Issues Pessimistic Forecast for Murphy Oil (NYSE:MUR) Stock Price

Murphy Oil (NYSE:MUR) had its price objective cut by stock analysts at Mizuho from $50.00 to $45.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an “outperform” rating on the oil and gas producer’s stock. Mizuho’s target price would suggest a potential upside of 48.56% from the company’s previous close.

Several other analysts also recently weighed in on MUR. Piper Sandler dropped their price target on Murphy Oil from $43.00 to $42.00 and set an “overweight” rating on the stock in a research note on Monday, November 18th. Morgan Stanley dropped their target price on 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. Barclays reduced their price target on shares of Murphy Oil from $38.00 to $37.00 and set an “equal weight” rating for the company in a research report on Monday, November 11th. JPMorgan Chase & Co. dropped their price objective on shares of Murphy Oil from $47.00 to $39.00 and set a “neutral” rating on the stock in a report on Thursday, September 12th. Finally, KeyCorp reduced their target price on shares of Murphy Oil from $54.00 to $50.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Ten investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Murphy Oil currently has an average rating of “Hold” and an average target price of $39.83.

Murphy Oil Stock Down 0.6 %

Shares of NYSE MUR opened at $30.29 on Monday. Murphy Oil has a 12-month low of $29.84 and a 12-month high of $49.14. The stock’s fifty day simple moving average is $32.62 and its two-hundred day simple moving average is $36.28. The stock has a market capitalization of $4.42 billion, a PE ratio of 9.77 and a beta of 2.18. The company has a current ratio of 0.71, a quick ratio of 0.65 and a debt-to-equity ratio of 0.24.

Murphy Oil (NYSE:MUR) last issued its quarterly earnings results on Thursday, November 7th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.02). Murphy Oil had a return on equity of 9.22% and a net margin of 14.78%. The business had revenue of $758.33 million for the quarter, compared to analyst estimates of $759.74 million. During the same period in the previous year, the company posted $1.59 earnings per share. The business’s revenue for the quarter was down 21.0% on a year-over-year basis. As a group, analysts expect that Murphy Oil will post 3.15 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Neo Ivy Capital Management boosted its position in Murphy Oil by 597.6% during the third quarter. Neo Ivy Capital Management now owns 71,154 shares of the oil and gas producer’s stock worth $2,400,000 after purchasing an additional 60,954 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Murphy Oil by 1.3% in the third quarter. Geode Capital Management LLC now owns 3,548,711 shares of the oil and gas producer’s stock valued at $119,755,000 after buying an additional 45,432 shares in the last quarter. M&T Bank Corp acquired a new position in shares of Murphy Oil during the 3rd quarter worth $238,000. Barclays PLC boosted its position in shares of Murphy Oil by 399.4% in the 3rd quarter. Barclays PLC now owns 1,012,944 shares of the oil and gas producer’s stock worth $34,177,000 after buying an additional 810,104 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd grew its stake in Murphy Oil by 22.1% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 44,862 shares of the oil and gas producer’s stock valued at $1,514,000 after acquiring an additional 8,126 shares during the last quarter. Institutional investors and hedge funds own 78.31% of the company’s stock.

About Murphy Oil

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.