Murphy Oil (NYSE:MUR) Price Target Cut to $37.00 by Analysts at KeyCorp

Murphy Oil (NYSE:MUR) had its price target cut by analysts at KeyCorp from $50.00 to $37.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the oil and gas producer’s stock. KeyCorp’s target price would indicate a potential upside of 39.81% from the stock’s previous close.

Several other research firms have also issued reports on MUR. The Goldman Sachs Group reduced their price target on Murphy Oil from $44.00 to $39.00 and set a “neutral” rating on the stock in a research report on Monday, October 7th. UBS Group reduced their target price on Murphy Oil from $38.00 to $34.00 and set a “neutral” rating on the stock in a report on Monday, December 9th. Piper Sandler lowered their price target on Murphy Oil from $39.00 to $35.00 and set an “overweight” rating for the company in a research note on Wednesday, January 29th. Scotiabank cut 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 research report on Thursday, October 10th. Finally, Truist Financial cut shares of Murphy Oil from a “buy” rating to a “hold” rating and decreased their price objective for the company from $42.00 to $31.00 in a report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $36.33.

Murphy Oil Trading Up 3.6 %

MUR stock opened at $26.47 on Monday. 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 has a twelve month low of $25.26 and a twelve month high of $49.14. The company has a market cap of $3.86 billion, a P/E ratio of 9.84 and a beta of 2.14. The business has a fifty day moving average of $30.45 and a 200-day moving average of $33.56.

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 the consensus estimate 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 period in the prior year, the firm earned $0.90 EPS. As a group, equities research analysts expect that Murphy Oil will post 3.33 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Lindenwold Advisors INC boosted its holdings in shares of Murphy Oil by 3.5% in the 3rd quarter. Lindenwold Advisors INC now owns 10,529 shares of the oil and gas producer’s stock valued at $355,000 after buying an additional 358 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in Murphy Oil by 16.2% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,140 shares of the oil and gas producer’s stock worth $129,000 after acquiring an additional 438 shares in the last quarter. Harbor Capital Advisors Inc. lifted its stake in Murphy Oil by 1.8% in the fourth quarter. Harbor Capital Advisors Inc. now owns 25,069 shares of the oil and gas producer’s stock valued at $759,000 after acquiring an additional 450 shares during the last quarter. Clear Creek Financial Management LLC grew its position in shares of 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 valued at $222,000 after acquiring an additional 494 shares during the period. Finally, Covestor Ltd increased its stake 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 last quarter. Institutional investors 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.