Murphy Oil (NYSE:MUR) Receives “Underweight” Rating from Morgan Stanley

Morgan Stanley reiterated their underweight rating on shares of Murphy Oil (NYSE:MUR) in a report published on Wednesday, MarketBeat Ratings reports. They currently have a $37.00 target price on the oil and gas producer’s stock.

Several other brokerages have also issued reports on MUR. Truist Financial increased their price objective on Murphy Oil from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Scotiabank reduced their price target on Murphy Oil from $47.00 to $36.00 and set a “sector perform” rating for the company in a report on Thursday, October 10th. Mizuho dropped their price objective on Murphy Oil from $50.00 to $45.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Wells Fargo & Company reduced their target price on shares of Murphy Oil from $39.00 to $35.00 and set an “equal weight” rating for the company in a research note on Monday, December 9th. Finally, BMO Capital Markets dropped their price target on shares of Murphy Oil from $42.00 to $40.00 and set a “market perform” rating on the stock in a research note on Friday, October 4th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $39.42.

Murphy Oil Trading Down 2.0 %

NYSE:MUR opened at $30.86 on Wednesday. The stock has a market cap of $4.50 billion, a PE ratio of 9.95 and a beta of 2.17. Murphy Oil has a fifty-two week low of $27.75 and a fifty-two week 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. The stock’s 50-day moving average is $31.30 and its two-hundred day moving average is $34.43.

Murphy Oil (NYSE:MUR) last announced its quarterly earnings data on Thursday, November 7th. The oil and gas producer reported $0.74 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.02). Murphy Oil had a net margin of 14.78% and a return on equity of 9.22%. The company had revenue of $758.33 million for the quarter, compared to analysts’ expectations of $759.74 million. During the same period in the previous year, the firm posted $1.59 earnings per share. The business’s revenue for the quarter was down 21.0% on a year-over-year basis. As a group, equities research analysts forecast that Murphy Oil will post 3.07 earnings per share for the current fiscal year.

Institutional Trading of Murphy Oil

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Lindenwold Advisors INC lifted its holdings in shares of Murphy Oil by 3.5% during the third quarter. Lindenwold Advisors INC now owns 10,529 shares of the oil and gas producer’s stock worth $355,000 after buying an additional 358 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in Murphy Oil by 16.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,140 shares of the oil and gas producer’s stock valued at $129,000 after purchasing an additional 438 shares during the last quarter. Harbor Capital Advisors Inc. boosted its holdings in Murphy Oil by 1.8% in the 4th quarter. Harbor Capital Advisors Inc. now owns 25,069 shares of the oil and gas producer’s stock valued at $759,000 after purchasing an additional 450 shares during the period. Clear Creek Financial Management LLC grew its position in Murphy Oil by 8.1% in the 3rd quarter. Clear Creek Financial Management LLC now owns 6,574 shares of the oil and gas producer’s stock worth $222,000 after purchasing an additional 494 shares during the last quarter. Finally, Covestor Ltd increased its holdings in shares of Murphy Oil by 266.8% during the 3rd quarter. Covestor Ltd now owns 741 shares of the oil and gas producer’s stock worth $25,000 after purchasing an additional 539 shares during the period. Institutional investors and hedge funds own 78.31% of the company’s stock.

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.