Murphy Oil Co. (NYSE:MUR) Receives $51.00 Consensus Price Target from Analysts

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

MUR has been the topic of several recent analyst reports. Truist Financial raised their price objective on Murphy Oil from $58.00 to $59.00 and gave the company a “buy” rating in a research note on Friday, April 5th. StockNews.com cut Murphy Oil from a “buy” rating to a “hold” rating in a research note on Tuesday, June 18th. Roth Mkm reiterated a “buy” rating on shares of Murphy Oil in a research note on Wednesday, March 20th. Barclays assumed coverage on Murphy Oil in a research note on Wednesday, April 10th. They set an “equal weight” rating and a $54.00 target price on the stock. Finally, Scotiabank lowered Murphy Oil from a “sector outperform” rating to a “sector perform” rating and lifted their price objective for the stock from $46.00 to $50.00 in a report on Thursday, April 11th.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Cetera Investment Advisers purchased a new position in shares of Murphy Oil during the first quarter worth about $1,700,000. Atria Investments Inc purchased a new position in shares of Murphy Oil during the first quarter worth about $1,859,000. EMC Capital Management grew its holdings in shares of Murphy Oil by 166.1% during the first quarter. EMC Capital Management now owns 8,008 shares of the oil and gas producer’s stock worth $366,000 after purchasing an additional 4,999 shares in the last quarter. Tidal Investments LLC grew its holdings in shares of Murphy Oil by 11.1% during the first quarter. Tidal Investments LLC now owns 22,872 shares of the oil and gas producer’s stock worth $1,045,000 after purchasing an additional 2,289 shares in the last quarter. Finally, Caxton Associates LP purchased a new position in shares of Murphy Oil during the first quarter worth about $237,000. Hedge funds and other institutional investors own 78.31% of the company’s stock.

Murphy Oil Price Performance

Shares of MUR opened at $41.24 on Friday. Murphy Oil has a 12-month low of $36.34 and a 12-month high of $49.14. The business’s fifty day moving average is $42.38 and its 200 day moving average is $42.07. The company has a quick ratio of 0.87, a current ratio of 0.93 and a debt-to-equity ratio of 0.24. The stock has a market cap of $6.29 billion, a P/E ratio of 11.49 and a beta of 2.21.

Murphy Oil (NYSE:MUR) last issued its quarterly earnings data on Thursday, May 2nd. The oil and gas producer reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.03. Murphy Oil had a return on equity of 11.75% and a net margin of 16.40%. The business had revenue of $794.80 million for the quarter, compared to analysts’ expectations of $750.94 million. During the same period last year, the business earned $1.24 EPS. The business’s revenue was down 5.4% on a year-over-year basis. Sell-side analysts anticipate that Murphy Oil will post 4.23 earnings per share for the current fiscal year.

Murphy Oil Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 20th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date of this dividend was Friday, May 17th. Murphy Oil’s payout ratio is presently 33.43%.

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.