Barclays Has Lowered Expectations for Murphy Oil (NYSE:MUR) Stock Price

Murphy Oil (NYSE:MUR) had its price target reduced by equities researchers at Barclays from $37.00 to $34.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the oil and gas producer’s stock. Barclays‘s target price indicates a potential upside of 32.55% from the stock’s previous close.

A number of other research analysts also recently issued reports on the company. Mizuho lowered their price target on Murphy Oil from $50.00 to $45.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Scotiabank dropped their price target on shares of Murphy Oil from $47.00 to $36.00 and set a “sector perform” rating on the stock in a report on Thursday, October 10th. Wells Fargo & Company decreased their price objective on shares of Murphy Oil from $35.00 to $31.00 and set an “equal weight” rating for the company in a report on Friday. Piper Sandler lowered their price objective on shares of Murphy Oil from $39.00 to $35.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 29th. Finally, Morgan Stanley reaffirmed an “underweight” rating and issued a $37.00 target price on shares of Murphy Oil in a research report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $36.33.

Murphy Oil Stock Down 3.7 %

Murphy Oil stock traded down $0.98 during trading hours on Monday, hitting $25.65. The stock had a trading volume of 1,844,766 shares, compared to its average volume of 2,362,037. The stock’s 50-day moving average price is $30.72 and its 200-day moving average price is $33.78. The stock has a market capitalization of $3.74 billion, a P/E ratio of 9.53 and a beta of 2.14. Murphy Oil has a 12-month low of $25.61 and a 12-month high of $49.14. The company has a quick ratio of 0.77, a current ratio of 0.83 and a debt-to-equity ratio of 0.24.

Murphy Oil (NYSE:MUR) last announced its quarterly earnings data on Thursday, January 30th. The oil and gas producer reported $0.35 earnings per share 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 in the previous year, the business earned $0.90 earnings per share. Equities research analysts anticipate that Murphy Oil will post 3.33 EPS for the current fiscal year.

Institutional Investors Weigh In On Murphy Oil

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Covestor Ltd lifted 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 valued at $25,000 after purchasing an additional 539 shares in the last quarter. Reston Wealth Management LLC purchased a new position in shares of Murphy Oil during the 3rd quarter valued at $27,000. Compass Wealth Management LLC bought a new position in Murphy Oil in the 3rd quarter worth $42,000. Bruce G. Allen Investments LLC increased its stake 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. raised its holdings in Murphy Oil by 90.1% during the third 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 acquiring an additional 833 shares during the period. 78.31% of the stock is owned by hedge funds and other institutional investors.

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.