Murphy Oil Co. (NYSE:MUR) Receives $51.00 Average PT from Analysts

Murphy Oil Co. (NYSE:MUR) has been given a consensus rating of “Moderate Buy” by the eleven ratings firms that are currently covering the company, MarketBeat reports. Five investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $51.00.

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. increased their target price on shares of Murphy Oil from $51.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Mizuho increased their target price on shares of Murphy Oil from $55.00 to $59.00 and gave the stock a “buy” rating in a report on Monday, May 13th. StockNews.com lowered shares of Murphy Oil from a “buy” rating to a “hold” rating in a report on Tuesday, June 18th. Barclays started coverage on shares of Murphy Oil in a report on Wednesday, April 10th. They issued an “equal weight” rating and a $54.00 price objective for the company. Finally, Scotiabank lowered shares of Murphy Oil from a “sector outperform” rating to a “sector perform” rating and raised their price objective for the stock from $46.00 to $50.00 in a report on Thursday, April 11th.

Murphy Oil Stock Up 0.5 %

Shares of NYSE:MUR opened at $41.24 on Friday. The stock’s 50-day moving average price is $41.98 and its 200-day moving average price is $42.04. Murphy Oil has a 12-month low of $36.34 and a 12-month high of $49.14. The stock has a market capitalization of $6.29 billion, a P/E ratio of 11.49 and a beta of 2.25. The company has a current ratio of 0.93, a quick ratio of 0.87 and a debt-to-equity ratio of 0.24.

Murphy Oil (NYSE:MUR) last posted 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 company had revenue of $794.80 million during the quarter, compared to analyst estimates of $750.94 million. Murphy Oil had a net margin of 16.40% and a return on equity of 11.75%. Murphy Oil’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.24 earnings per share. On average, equities analysts anticipate that Murphy Oil will post 4.23 earnings per share for the current year.

Hedge Funds Weigh In On Murphy Oil

Large investors have recently made changes to their positions in the business. Bruce G. Allen Investments LLC purchased a new position in shares of Murphy Oil during the fourth quarter valued at approximately $29,000. Rise Advisors LLC bought a new stake in shares of Murphy Oil during the first quarter valued at approximately $30,000. Lindbrook Capital LLC increased its position in shares of Murphy Oil by 47.7% during the first quarter. Lindbrook Capital LLC now owns 721 shares of the oil and gas producer’s stock valued at $33,000 after acquiring an additional 233 shares in the last quarter. Headinvest LLC bought a new stake in shares of Murphy Oil during the third quarter valued at approximately $70,000. Finally, Benjamin F. Edwards & Company Inc. increased its position in shares of Murphy Oil by 27.0% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 2,105 shares of the oil and gas producer’s stock valued at $96,000 after acquiring an additional 447 shares in the last quarter. 78.31% of the stock is currently 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.