Murphy Oil (NYSE:MUR) Price Target Cut to $38.00 by Analysts at UBS Group

Murphy Oil (NYSE:MUR) had its price target lowered by analysts at UBS Group from $39.00 to $38.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a “neutral” rating on the oil and gas producer’s stock. UBS Group’s target price would indicate a potential upside of 14.80% from the stock’s current price.

Other analysts also recently issued research reports about the company. Wells Fargo & Company dropped their price target on Murphy Oil from $41.00 to $39.00 and set an “equal weight” rating for the company in a research report on Friday, September 27th. Piper Sandler reduced their price objective on Murphy Oil from $43.00 to $42.00 and set an “overweight” rating for the company in a research report on Monday. JPMorgan Chase & Co. reduced their target price on Murphy Oil from $47.00 to $39.00 and set a “neutral” rating on the stock in a report on Thursday, September 12th. KeyCorp lowered their target price on shares of Murphy Oil from $54.00 to $50.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Finally, The Goldman Sachs Group lowered their target price on Murphy Oil from $44.00 to $39.00 and set a “neutral” rating for the company in a report on Monday, October 7th. Ten analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $40.92.

Murphy Oil Price Performance

Murphy Oil stock traded up $0.90 during trading hours on Monday, reaching $33.10. 617,855 shares of the stock were exchanged, compared to its average volume of 1,659,867. The company has a current ratio of 0.71, a quick ratio of 0.65 and a debt-to-equity ratio of 0.24. Murphy Oil has a twelve month low of $30.99 and a twelve month high of $49.14. The company has a market cap of $4.83 billion, a P/E ratio of 10.68 and a beta of 2.21. The stock has a 50 day moving average of $33.74 and a two-hundred day moving average of $37.90.

Murphy Oil (NYSE:MUR) last posted its quarterly earnings results 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). The company had revenue of $758.33 million during the quarter, compared to analyst estimates of $759.74 million. Murphy Oil had a return on equity of 9.22% and a net margin of 14.78%. The company’s revenue for the quarter was down 21.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.59 earnings per share. Equities analysts expect that Murphy Oil will post 3.3 EPS for the current fiscal year.

Institutional Trading of Murphy Oil

A number of institutional investors have recently modified their holdings of MUR. Covestor Ltd boosted its holdings in Murphy Oil by 266.8% in the third 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. Mather Group LLC. lifted its holdings in Murphy Oil by 1,015.7% in the 2nd quarter. Mather Group LLC. now owns 569 shares of the oil and gas producer’s stock valued at $26,000 after acquiring an additional 518 shares during the last quarter. Reston Wealth Management LLC bought a new position in shares of Murphy Oil in the third quarter valued at $27,000. Compass Wealth Management LLC purchased a new stake in Murphy Oil during the third quarter valued at about $42,000. Finally, Bruce G. Allen Investments LLC boosted its position in shares of Murphy Oil by 106.5% in the third 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 period. Hedge funds and other institutional investors own 78.31% of the company’s stock.

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.