Murphy Oil (NYSE:MUR) Now Covered by Wolfe Research

Wolfe Research began coverage on shares of Murphy Oil (NYSE:MUR) in a research report sent to investors on Thursday, Marketbeat.com reports. The firm issued a peer perform rating on the oil and gas producer’s stock.

A number of other research firms also recently weighed in on MUR. StockNews.com downgraded Murphy Oil from a buy rating to a hold rating in a research report on Tuesday, June 18th. Piper Sandler dropped their price target on Murphy Oil from $55.00 to $54.00 and set an overweight rating on the stock in a report on Thursday. Barclays began coverage on Murphy Oil in a report on Wednesday, April 10th. They issued an equal weight rating and a $54.00 price target on the stock. Truist Financial upped their price target on Murphy Oil from $58.00 to $59.00 and gave the company a buy rating in a report on Friday, April 5th. Finally, Mizuho upped their price target on Murphy Oil from $55.00 to $59.00 and gave the company a buy rating in a report on Monday, May 13th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Murphy Oil currently has an average rating of Moderate Buy and an average target price of $50.64.

Murphy Oil Stock Performance

MUR opened at $41.66 on Thursday. The company has a market capitalization of $6.36 billion, a price-to-earnings ratio of 11.60 and a beta of 2.25. 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 has a 1-year low of $36.95 and a 1-year high of $49.14. The business has a 50 day moving average price of $41.17 and a two-hundred day moving average price of $41.85.

Murphy Oil (NYSE:MUR) last released its earnings results on Thursday, May 2nd. The oil and gas producer reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.03. The firm had revenue of $794.80 million during the quarter, compared to the consensus estimate of $750.94 million. Murphy Oil had a return on equity of 11.75% and a net margin of 16.40%. The firm’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.24 earnings per share. Research analysts predict that Murphy Oil will post 4.21 EPS for the current fiscal year.

Hedge Funds Weigh In On Murphy Oil

A number of hedge funds have recently modified their holdings of MUR. International Assets Investment Management LLC increased its stake in shares of Murphy Oil by 3,904.6% in the fourth quarter. International Assets Investment Management LLC now owns 2,090,904 shares of the oil and gas producer’s stock worth $89,198,000 after acquiring an additional 2,038,692 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Murphy Oil by 90.5% in the second quarter. Assenagon Asset Management S.A. now owns 1,092,374 shares of the oil and gas producer’s stock worth $45,050,000 after acquiring an additional 518,904 shares during the last quarter. Invenomic Capital Management LP acquired a new position in shares of Murphy Oil in the fourth quarter worth $16,349,000. Heartland Advisors Inc. acquired a new position in shares of Murphy Oil in the fourth quarter worth $12,988,000. Finally, Vaughan Nelson Investment Management L.P. increased its stake in shares of Murphy Oil by 23.0% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 1,132,305 shares of the oil and gas producer’s stock worth $51,746,000 after acquiring an additional 212,100 shares during the last quarter. 78.31% of the stock is owned by institutional investors and hedge funds.

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.