UBS Group Cuts Murphy Oil (NYSE:MUR) Price Target to $32.00

Murphy Oil (NYSE:MUR) had its target price dropped by equities researchers at UBS Group from $34.00 to $32.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the oil and gas producer’s stock. UBS Group’s target price indicates a potential upside of 24.48% from the company’s previous close.

Other research analysts have also issued research reports about the company. The Goldman Sachs Group decreased their target price on Murphy Oil from $44.00 to $39.00 and set a “neutral” rating for the company in a research report on Monday, October 7th. Barclays decreased their price objective on shares of Murphy Oil from $38.00 to $37.00 and set an “equal weight” rating for the company in a report on Monday, November 11th. Piper Sandler dropped their target price on shares of Murphy Oil from $39.00 to $35.00 and set an “overweight” rating on the stock in a report on Wednesday, January 29th. KeyCorp lowered their price objective on shares of Murphy Oil from $50.00 to $37.00 and set an “overweight” rating for the company in a research report on Monday. Finally, Truist Financial cut shares of Murphy Oil from a “buy” rating to a “hold” rating and cut their target price for the stock from $42.00 to $31.00 in a report on Friday. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, Murphy Oil has a consensus rating of “Hold” and an average price target of $36.58.

Murphy Oil Stock Down 3.5 %

NYSE:MUR traded down $0.92 during trading hours on Monday, hitting $25.71. The stock had a trading volume of 1,680,049 shares, compared to its average volume of 2,352,082. The company has a market cap of $3.75 billion, a PE ratio of 9.53 and a beta of 2.14. The business has a 50 day simple moving average of $30.72 and a two-hundred day simple moving average of $33.78. Murphy Oil has a 1-year low of $25.73 and a 1-year high of $49.14. The company has a current ratio of 0.83, a quick ratio of 0.77 and a debt-to-equity ratio of 0.24.

Murphy Oil (NYSE:MUR) last issued its quarterly earnings data on Thursday, January 30th. The oil and gas producer reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.27). Murphy Oil had a return on equity of 7.66% and a net margin of 13.44%. During the same quarter last year, the business posted $0.90 earnings per share. Analysts predict that Murphy Oil will post 3.33 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Covestor Ltd boosted its holdings in Murphy Oil by 266.8% during the third quarter. Covestor Ltd now owns 741 shares of the oil and gas producer’s stock worth $25,000 after buying an additional 539 shares in the last quarter. Reston Wealth Management LLC acquired a new stake in Murphy Oil during the 3rd quarter worth about $27,000. Compass Wealth Management LLC acquired a new position in Murphy Oil in the 3rd quarter valued at approximately $42,000. Bruce G. Allen Investments LLC lifted its position in Murphy Oil by 106.5% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 1,470 shares of the oil and gas producer’s stock worth $50,000 after buying an additional 758 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Murphy Oil by 90.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,758 shares of the oil and gas producer’s stock valued at $59,000 after buying an additional 833 shares during the period. 78.31% of the stock is currently owned by institutional investors.

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.