Murphy Oil Co. (NYSE:MUR) Receives $51.00 Average PT from Brokerages

Murphy Oil Co. (NYSE:MUR) has earned an average rating of “Moderate Buy” from the eleven analysts that are presently covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $51.00.

MUR has been the subject of a number of research analyst reports. Mizuho raised their price target on Murphy Oil from $55.00 to $59.00 and gave the stock a “buy” rating in a research note on Monday, May 13th. StockNews.com lowered Murphy Oil from a “buy” rating to a “hold” rating in a research note on Tuesday, June 18th. Scotiabank lowered Murphy Oil from a “sector outperform” rating to a “sector perform” rating and lifted their target price for the company from $46.00 to $50.00 in a research report on Thursday, April 11th. JPMorgan Chase & Co. lifted their target price on Murphy Oil from $51.00 to $52.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. Finally, Truist Financial lifted their target price on Murphy Oil from $58.00 to $59.00 and gave the company a “buy” rating in a research report on Friday, April 5th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in MUR. Lindbrook Capital LLC grew its stake in Murphy Oil by 47.7% during the 1st quarter. Lindbrook Capital LLC now owns 721 shares of the oil and gas producer’s stock worth $33,000 after buying an additional 233 shares during the last quarter. CWM LLC grew its stake in Murphy Oil by 14.0% during the 1st quarter. CWM LLC now owns 2,547 shares of the oil and gas producer’s stock worth $116,000 after buying an additional 313 shares during the last quarter. State of Michigan Retirement System grew its stake in Murphy Oil by 1.1% during the 1st quarter. State of Michigan Retirement System now owns 35,647 shares of the oil and gas producer’s stock worth $1,629,000 after buying an additional 400 shares during the last quarter. Equitable Trust Co. grew its stake in Murphy Oil by 6.2% during the 1st quarter. Equitable Trust Co. now owns 6,940 shares of the oil and gas producer’s stock worth $317,000 after buying an additional 406 shares during the last quarter. Finally, Benin Management CORP grew its stake in Murphy Oil by 4.9% during the 4th quarter. Benin Management CORP now owns 9,414 shares of the oil and gas producer’s stock worth $402,000 after buying an additional 439 shares during the last quarter. 78.31% of the stock is currently owned by hedge funds and other institutional investors.

Murphy Oil Price Performance

NYSE:MUR opened at $41.04 on Friday. The firm has a market capitalization of $6.26 billion, a price-to-earnings ratio of 11.43 and a beta of 2.26. Murphy Oil has a 1 year low of $36.34 and a 1 year high of $49.14. The business has a 50 day simple moving average of $42.18 and a 200-day simple moving average of $42.05. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.93 and a quick ratio of 0.87.

Murphy Oil (NYSE:MUR) last issued its quarterly earnings results on Thursday, May 2nd. The oil and gas producer reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.03. Murphy Oil had a return on equity of 11.75% and a net margin of 16.40%. The firm had revenue of $794.80 million during the quarter, compared to analyst estimates of $750.94 million. During the same period last year, the company earned $1.24 EPS. Murphy Oil’s quarterly revenue was down 5.4% compared to the same quarter last year. Equities analysts forecast that Murphy Oil will post 4.23 EPS for the current year.

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.