Piper Sandler Has Lowered Expectations for Murphy Oil (NYSE:MUR) Stock Price

Murphy Oil (NYSE:MUR) had its price target lowered by equities research analysts at Piper Sandler from $43.00 to $42.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the oil and gas producer’s stock. Piper Sandler’s target price would suggest a potential upside of 29.19% from the stock’s current price.

Several other brokerages have also recently weighed in on MUR. Barclays dropped their price target on shares of Murphy Oil from $38.00 to $37.00 and set an “equal weight” rating on the stock in a research report on Monday, November 11th. KeyCorp dropped their target price on Murphy Oil from $54.00 to $50.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Truist Financial decreased their price target on Murphy Oil from $55.00 to $42.00 and set a “buy” rating for the company in a report on Monday, September 30th. The Goldman Sachs Group dropped their price objective 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. Finally, UBS Group reduced their target price on shares of Murphy Oil from $45.00 to $39.00 and set a “neutral” rating for the company in a research note on Wednesday, September 18th. Ten investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $40.92.

Murphy Oil Trading Down 1.4 %

MUR opened at $32.51 on Monday. The company has a market cap of $4.74 billion, a P/E ratio of 10.49 and a beta of 2.21. The company has a fifty day moving average price of $33.68 and a two-hundred day moving average price of $37.74. The company has a current ratio of 0.71, a quick ratio of 0.65 and a debt-to-equity ratio of 0.24. Murphy Oil has a 1-year low of $30.99 and a 1-year high of $49.14.

Murphy Oil (NYSE:MUR) last released its quarterly earnings data on Thursday, November 7th. The oil and gas producer reported $0.74 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.02). Murphy Oil had a net margin of 14.78% and a return on equity of 9.22%. The firm had revenue of $758.33 million for the quarter, compared to the consensus estimate of $759.74 million. During the same quarter in the prior year, the firm earned $1.59 EPS. The company’s revenue was down 21.0% compared to the same quarter last year. Analysts predict that Murphy Oil will post 3.3 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MUR. State Board of Administration of Florida Retirement System lifted its position in shares of Murphy Oil by 22.1% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 51,812 shares of the oil and gas producer’s stock valued at $2,368,000 after buying an additional 9,370 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its position in Murphy Oil by 76.7% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 15,216 shares of the oil and gas producer’s stock worth $706,000 after purchasing an additional 6,604 shares during the period. Edgestream Partners L.P. purchased a new position in shares of Murphy Oil in the first quarter worth about $974,000. O Shaughnessy Asset Management LLC raised its position in shares of Murphy Oil by 138.8% in the first quarter. O Shaughnessy Asset Management LLC now owns 29,702 shares of the oil and gas producer’s stock valued at $1,357,000 after purchasing an additional 17,265 shares during the period. Finally, Seven Eight Capital LP purchased a new stake in shares of Murphy Oil during the 1st quarter valued at approximately $372,000. 78.31% of the stock is currently owned by hedge funds and other 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.