Morgan Stanley Trims Murphy Oil (NYSE:MUR) Target Price to $39.00

Murphy Oil (NYSE:MUR) had its price objective decreased by investment analysts at Morgan Stanley from $43.00 to $39.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has an “equal weight” rating on the oil and gas producer’s stock. Morgan Stanley’s price target points to a potential upside of 10.29% from the company’s current price.

Several other research analysts have also weighed in on MUR. Wells Fargo & Company cut their price objective on shares of Murphy Oil from $47.00 to $41.00 and set an “equal weight” rating on the stock in a report on Friday, August 23rd. Piper Sandler cut their price target on shares of Murphy Oil from $54.00 to $44.00 and set an “overweight” rating on the stock in a research note on Thursday, August 15th. StockNews.com cut shares of Murphy Oil from a “buy” rating to a “hold” rating in a research note on Tuesday, June 18th. UBS Group cut their target price on Murphy Oil from $49.00 to $45.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 13th. Finally, Truist Financial lowered their price target on Murphy Oil from $59.00 to $55.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. Eight research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $45.55.

Murphy Oil Trading Up 3.0 %

Shares of MUR opened at $35.36 on Monday. Murphy Oil has a fifty-two week low of $33.15 and a fifty-two week high of $49.14. The company has a market capitalization of $5.40 billion, a PE ratio of 9.85 and a beta of 2.21. The stock has a fifty day moving average of $38.05 and a two-hundred day moving average of $41.38. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.76 and a current ratio of 0.82.

Murphy Oil (NYSE:MUR) last released its earnings results on Thursday, August 8th. The oil and gas producer reported $0.81 EPS for the quarter, beating the consensus estimate of $0.73 by $0.08. Murphy Oil had a return on equity of 11.68% and a net margin of 17.32%. The firm had revenue of $802.80 million during the quarter, compared to analyst estimates of $813.97 million. During the same period in the prior year, the firm posted $0.79 earnings per share. The business’s quarterly revenue was down 1.4% compared to the same quarter last year. As a group, analysts forecast that Murphy Oil will post 3.99 EPS for the current year.

Institutional Investors Weigh In On Murphy Oil

A number of large investors have recently modified their holdings of MUR. Mather Group LLC. lifted its position in Murphy Oil by 1,015.7% during the 2nd quarter. Mather Group LLC. now owns 569 shares of the oil and gas producer’s stock worth $26,000 after acquiring an additional 518 shares in the last quarter. Rise Advisors LLC acquired a new position in shares of Murphy Oil in the first quarter worth about $30,000. Lindbrook Capital LLC raised its position in shares of Murphy Oil by 47.7% in the 1st quarter. Lindbrook Capital LLC now owns 721 shares of the oil and gas producer’s stock valued at $33,000 after purchasing an additional 233 shares in the last quarter. Headlands Technologies LLC boosted its stake in Murphy Oil by 1,434.5% during the 2nd quarter. Headlands Technologies LLC now owns 1,289 shares of the oil and gas producer’s stock valued at $53,000 after acquiring an additional 1,205 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. lifted 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 worth $96,000 after purchasing an additional 447 shares during the last quarter. 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.