Barclays Trims Murphy Oil (NYSE:MUR) Target Price to $46.00

Murphy Oil (NYSE:MUR) had its target price cut by Barclays from $54.00 to $46.00 in a report issued on Monday, Benzinga reports. They currently have an equal weight rating on the oil and gas producer’s stock.

Several other brokerages have also recently issued reports on MUR. Truist Financial dropped their price target on Murphy Oil from $59.00 to $55.00 and set a buy rating on the stock in a research report on Monday, July 22nd. Wolfe Research began coverage on Murphy Oil in a research note on Thursday, July 18th. They set a peer perform rating for the company. KeyCorp lifted their price objective on shares of Murphy Oil from $50.00 to $54.00 and gave the company an overweight rating in a research report on Monday, April 22nd. Mizuho boosted their price objective on shares of Murphy Oil from $55.00 to $59.00 and gave the company a buy rating in a research note on Monday, May 13th. Finally, Piper Sandler reduced their target price on shares of Murphy Oil from $55.00 to $54.00 and set an overweight rating for the company in a research note on Thursday, July 18th. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Murphy Oil currently has a consensus rating of Hold and a consensus target price of $49.73.

Murphy Oil Stock Down 0.7 %

Shares of NYSE MUR opened at $36.74 on Monday. The business has a 50-day moving average price of $39.85 and a 200 day moving average price of $41.78. The stock has a market cap of $5.61 billion, a PE ratio of 10.23 and a beta of 2.25. The company has a quick ratio of 0.87, a current ratio of 0.93 and a debt-to-equity ratio of 0.24. Murphy Oil has a 52-week low of $35.61 and a 52-week high of $49.14.

Murphy Oil (NYSE:MUR) last announced its earnings results on Thursday, August 8th. The oil and gas producer reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.08. The business had revenue of $802.80 million for the quarter, compared to analysts’ expectations of $813.97 million. Murphy Oil had a net margin of 16.40% and a return on equity of 11.75%. The company’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.79 EPS. Equities research analysts forecast that Murphy Oil will post 4.16 earnings per share for the current year.

Murphy Oil Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Monday, August 19th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date is Monday, August 19th. Murphy Oil’s payout ratio is currently 33.43%.

Institutional Trading of Murphy Oil

Several large investors have recently modified their holdings of the business. Lindbrook Capital LLC grew its holdings 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 valued at $33,000 after buying an additional 233 shares during the last quarter. Signaturefd LLC lifted its position in shares of Murphy Oil by 14.5% in the second quarter. Signaturefd LLC now owns 2,441 shares of the oil and gas producer’s stock valued at $101,000 after acquiring an additional 310 shares in the last quarter. CWM LLC increased its position 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 purchasing an additional 313 shares in the last quarter. State of Michigan Retirement System raised its stake in Murphy Oil by 1.1% in the 1st quarter. State of Michigan Retirement System now owns 35,647 shares of the oil and gas producer’s stock valued at $1,629,000 after purchasing an additional 400 shares during the last quarter. Finally, Equitable Trust Co. raised its stake in Murphy Oil by 6.2% in the 1st quarter. Equitable Trust Co. now owns 6,940 shares of the oil and gas producer’s stock valued at $317,000 after purchasing an additional 406 shares during the last quarter. 78.31% of the stock is currently 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.