Mizuho Lowers Murphy Oil (NYSE:MUR) Price Target to $50.00

Murphy Oil (NYSE:MUR) had its price objective decreased by Mizuho from $59.00 to $50.00 in a report issued on Monday, Benzinga reports. The brokerage currently has an “outperform” rating on the oil and gas producer’s stock. Mizuho’s price target would indicate a potential upside of 41.40% from the stock’s previous close.

Several other equities research analysts also recently commented on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Murphy Oil from $47.00 to $39.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. UBS Group lowered their price objective on shares of Murphy Oil from $49.00 to $45.00 and set a “neutral” rating for the company in a research note on Tuesday, August 13th. Piper Sandler lowered their price objective on shares of Murphy Oil from $54.00 to $44.00 and set an “overweight” rating for the company in a research note on Thursday, August 15th. Barclays lowered their price objective on shares of Murphy Oil from $54.00 to $46.00 and set an “equal weight” rating for the company in a research note on Monday, August 12th. Finally, Wolfe Research initiated coverage on shares of Murphy Oil in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. Eight research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Murphy Oil currently has a consensus rating of “Hold” and a consensus price target of $45.55.

Murphy Oil Price Performance

NYSE MUR opened at $35.36 on Monday. The firm’s fifty day simple moving average is $38.05 and its two-hundred day simple moving average is $41.38. The company has a current ratio of 0.82, a quick ratio of 0.76 and a debt-to-equity ratio of 0.23. Murphy Oil has a 12-month low of $33.15 and a 12-month high of $49.14. The firm has a market capitalization of $5.40 billion, a P/E ratio of 9.85 and a beta of 2.21.

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Dimensional Fund Advisors LP increased its stake in shares of Murphy Oil by 3.3% during the second quarter. Dimensional Fund Advisors LP now owns 8,254,125 shares of the oil and gas producer’s stock worth $340,400,000 after purchasing an additional 262,256 shares in the last quarter. Earnest Partners LLC increased its stake in shares of Murphy Oil by 7.7% during the first quarter. Earnest Partners LLC now owns 2,737,409 shares of the oil and gas producer’s stock worth $125,100,000 after purchasing an additional 195,906 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Murphy Oil by 5.3% during the second quarter. Bank of New York Mellon Corp now owns 2,138,985 shares of the oil and gas producer’s stock worth $88,212,000 after purchasing an additional 107,462 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its stake in shares of Murphy Oil by 23.0% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 1,132,305 shares of the oil and gas producer’s stock worth $51,746,000 after purchasing an additional 212,100 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in shares of Murphy Oil by 90.5% during the second quarter. Assenagon Asset Management S.A. now owns 1,092,374 shares of the oil and gas producer’s stock worth $45,050,000 after purchasing an additional 518,904 shares in the last quarter. Institutional investors and hedge funds 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.