UBS Group Cuts Murphy Oil (NYSE:MUR) Price Target to $34.00

Murphy Oil (NYSE:MUR) had its target price dropped by analysts at UBS Group from $38.00 to $34.00 in a report issued on Monday,Benzinga reports. The firm currently has a “neutral” rating on the oil and gas producer’s stock. UBS Group’s price target suggests a potential upside of 11.26% from the stock’s current price.

Several other equities research analysts have also issued reports 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 report on Monday, November 18th. BMO Capital Markets decreased their price target on shares of Murphy Oil from $42.00 to $40.00 and set a “market perform” rating for the company in a report on Friday, October 4th. The Goldman Sachs Group dropped their price objective on shares of Murphy Oil from $44.00 to $39.00 and set a “neutral” rating on the stock in a research note on Monday, October 7th. Barclays dropped their price target on Murphy Oil from $38.00 to $37.00 and set an “equal weight” rating on the stock in a research report on Monday, November 11th. Finally, KeyCorp reduced their price objective on Murphy Oil from $54.00 to $50.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Ten analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $40.25.

Murphy Oil Trading Up 1.9 %

NYSE MUR opened at $30.56 on Monday. The company’s fifty day moving average price is $33.00 and its two-hundred day moving average price is $36.61. The company has a market capitalization of $4.46 billion, a price-to-earnings ratio of 9.86 and a beta of 2.18. Murphy Oil has a 12 month low of $29.84 and a 12 month high of $49.14. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.71 and a quick ratio of 0.65.

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

Institutional Trading of Murphy Oil

A number of institutional investors have recently made changes to their positions in the stock. Quadrature Capital Ltd acquired a new position in shares of Murphy Oil during the third quarter valued at approximately $1,217,000. Mutual of America Capital Management LLC increased its position in shares of Murphy Oil by 21.2% during the 2nd quarter. Mutual of America Capital Management LLC now owns 218,739 shares of the oil and gas producer’s stock valued at $9,021,000 after purchasing an additional 38,334 shares during the period. Oppenheimer Asset Management Inc. raised its stake in shares of Murphy Oil by 24.2% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 166,316 shares of the oil and gas producer’s stock worth $6,859,000 after buying an additional 32,411 shares in the last quarter. Prospector Partners LLC raised its stake in shares of Murphy Oil by 50.5% in the 3rd quarter. Prospector Partners LLC now owns 307,092 shares of the oil and gas producer’s stock worth $10,361,000 after buying an additional 103,092 shares in the last quarter. Finally, Cetera Investment Advisers acquired a new stake in shares of Murphy Oil in the first quarter valued at $1,700,000. 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.