Truist Financial Increases Murphy Oil (NYSE:MUR) Price Target to $42.00

Murphy Oil (NYSE:MUR) had its target price boosted by equities researchers at Truist Financial from $40.00 to $42.00 in a report released on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the oil and gas producer’s stock. Truist Financial’s price target indicates a potential upside of 23.78% from the company’s current price.

MUR has been the topic of a number of other research reports. UBS Group cut their target price on Murphy Oil from $38.00 to $34.00 and set a “neutral” rating on the stock in a research note on Monday, December 9th. The Goldman Sachs Group cut their target price on Murphy Oil from $44.00 to $39.00 and set a “neutral” rating on the stock in a research note on Monday, October 7th. Wells Fargo & Company cut their target price on Murphy Oil from $39.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Monday, December 9th. Piper Sandler cut their target price on Murphy Oil from $42.00 to $39.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. Finally, BMO Capital Markets cut their target price on Murphy Oil from $42.00 to $40.00 and set a “market perform” rating on the stock in a research note on Friday, October 4th. Ten research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $39.58.

Murphy Oil Price Performance

MUR stock opened at $33.93 on Monday. The company has a market capitalization of $4.95 billion, a P/E ratio of 10.95 and a beta of 2.17. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.65 and a current ratio of 0.71. Murphy Oil has a 52-week low of $27.75 and a 52-week high of $49.14. The business has a 50-day simple moving average of $31.34 and a two-hundred day simple moving average of $34.81.

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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.02). The company had revenue of $758.33 million for the quarter, compared to analyst estimates of $759.74 million. Murphy Oil had a net margin of 14.78% and a return on equity of 9.22%. Murphy Oil’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 EPS. Research analysts expect that Murphy Oil will post 3.15 EPS for the current fiscal year.

Hedge Funds Weigh In On Murphy Oil

Several institutional investors have recently bought and sold shares of the company. Covestor Ltd raised its holdings in Murphy Oil by 266.8% during the 3rd quarter. Covestor Ltd now owns 741 shares of the oil and gas producer’s stock valued at $25,000 after acquiring an additional 539 shares during the period. Reston Wealth Management LLC bought a new stake in Murphy Oil during the 3rd quarter valued at $27,000. Compass Wealth Management LLC bought a new stake in Murphy Oil during the 3rd quarter valued at $42,000. Bruce G. Allen Investments LLC raised its holdings in Murphy Oil by 106.5% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 1,470 shares of the oil and gas producer’s stock valued at $50,000 after acquiring an additional 758 shares during the period. Finally, Headlands Technologies LLC raised its holdings 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 period. Hedge funds and other 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.