Barclays Cuts Murphy Oil (NYSE:MUR) Price Target to $37.00

Murphy Oil (NYSE:MUR) had its target price trimmed by Barclays from $38.00 to $37.00 in a research note published on Monday morning,Benzinga reports. The firm currently has an equal weight rating on the oil and gas producer’s stock.

Several other analysts have also recently weighed in on MUR. BMO Capital Markets dropped their price target on Murphy Oil from $42.00 to $40.00 and set a “market perform” rating for the company in a report on Friday, October 4th. Wolfe Research began coverage on shares of Murphy Oil in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. UBS Group dropped their price objective on shares of Murphy Oil from $45.00 to $39.00 and set a “neutral” rating for the company in a research note on Wednesday, September 18th. Wells Fargo & Company decreased their target price on shares of Murphy Oil from $41.00 to $39.00 and set an “equal weight” rating on the stock in a research report on Friday, September 27th. Finally, Truist Financial dropped their price target on shares of Murphy Oil from $55.00 to $42.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Ten investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $41.08.

Murphy Oil Stock Up 2.7 %

MUR opened at $33.33 on Monday. The company has a current ratio of 0.71, a quick ratio of 0.65 and a debt-to-equity ratio of 0.24. The stock’s fifty day simple moving average is $33.78 and its 200 day simple moving average is $38.09. Murphy Oil has a 1-year low of $30.99 and a 1-year high of $49.14. The stock has a market cap of $4.86 billion, a PE ratio of 10.75 and a beta of 2.21.

Murphy Oil (NYSE:MUR) last announced its 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 quarterly revenue was down 21.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.59 EPS. As a group, research analysts expect that Murphy Oil will post 3.33 earnings per share for the current year.

Murphy Oil Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.20 annualized dividend and a dividend yield of 3.60%. Murphy Oil’s dividend payout ratio (DPR) is presently 38.71%.

Hedge Funds Weigh In On Murphy Oil

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Covestor Ltd boosted its stake in shares of Murphy Oil by 266.8% in the 3rd 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 during the last quarter. Mather Group LLC. raised its stake in shares of Murphy Oil by 1,015.7% in the second quarter. Mather Group LLC. now owns 569 shares of the oil and gas producer’s stock worth $26,000 after purchasing an additional 518 shares during the last quarter. Reston Wealth Management LLC bought a new position in Murphy Oil during the 3rd quarter valued at $27,000. Compass Wealth Management LLC bought a new position in shares of Murphy Oil during the third quarter valued at about $42,000. Finally, Bruce G. Allen Investments LLC boosted its stake in shares of 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 during the last quarter. 78.31% of the stock is currently owned by institutional investors and hedge funds.

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.