UBS Group Cuts Murphy Oil (NYSE:MUR) Price Target to $34.00

Murphy Oil (NYSE:MUR) had its target price cut by UBS Group from $38.00 to $34.00 in a research report report published on Monday morning,Benzinga reports. They currently have a neutral rating on the oil and gas producer’s stock.

Other equities analysts have also issued research reports about the stock. Mizuho cut their price target on shares of Murphy Oil from $59.00 to $50.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. Morgan Stanley cut their target price on Murphy Oil from $43.00 to $39.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. Wells Fargo & Company decreased their price target on Murphy Oil from $39.00 to $35.00 and set an “equal weight” rating for the company in a research note on Monday. Truist Financial cut their price objective on Murphy Oil from $55.00 to $42.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Finally, The Goldman Sachs Group decreased their target price on shares of Murphy Oil from $44.00 to $39.00 and set a “neutral” rating for the company in a research report on Monday, October 7th. Ten investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $40.25.

Murphy Oil Trading Up 1.5 %

NYSE MUR opened at $30.71 on Monday. Murphy Oil has a twelve month low of $29.84 and a twelve month high of $49.14. The business’s fifty day moving average is $32.84 and its 200 day moving average is $36.49. The company has a quick ratio of 0.65, a current ratio of 0.71 and a debt-to-equity ratio of 0.24. The company has a market cap of $4.48 billion, a price-to-earnings ratio of 9.91 and a beta of 2.18.

Murphy Oil (NYSE:MUR) last released its quarterly earnings results on Thursday, November 7th. The oil and gas producer reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.02). The firm had revenue of $758.33 million for the quarter, compared to the consensus estimate of $759.74 million. Murphy Oil had a return on equity of 9.22% and a net margin of 14.78%. The business’s revenue for the quarter was down 21.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.59 earnings per share. As a group, sell-side analysts expect that Murphy Oil will post 3.15 EPS for the current fiscal year.

Murphy Oil Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 18th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $1.20 annualized dividend and a yield of 3.91%. Murphy Oil’s payout ratio is 38.71%.

Institutional Investors Weigh In On Murphy Oil

Several hedge funds and other institutional investors have recently made changes to their positions in MUR. Signaturefd LLC boosted its stake in Murphy Oil by 14.5% during the 2nd quarter. Signaturefd LLC now owns 2,441 shares of the oil and gas producer’s stock valued at $101,000 after purchasing an additional 310 shares during the last quarter. Lindenwold Advisors INC lifted its holdings in shares of Murphy Oil by 3.5% in the third quarter. Lindenwold Advisors INC now owns 10,529 shares of the oil and gas producer’s stock valued at $355,000 after purchasing an additional 358 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of 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 valued at $129,000 after buying an additional 438 shares during the last quarter. Clear Creek Financial Management LLC grew its holdings in Murphy Oil by 8.1% during the third quarter. Clear Creek Financial Management LLC now owns 6,574 shares of the oil and gas producer’s stock worth $222,000 after buying an additional 494 shares in the last quarter. Finally, International Assets Investment Management LLC raised its position in Murphy Oil by 1.1% in the 2nd quarter. International Assets Investment Management LLC now owns 49,437 shares of the oil and gas producer’s stock valued at $2,039,000 after buying an additional 537 shares during the last quarter. 78.31% of the stock is owned by institutional investors.

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.