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

Murphy Oil (NYSE:MUR) had its target price cut by analysts at Barclays from $37.00 to $34.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the oil and gas producer’s stock. Barclays‘s target price would indicate a potential upside of 28.47% from the company’s current price.

A number of other analysts have also commented on MUR. Wells Fargo & Company decreased their price target on shares of Murphy Oil from $35.00 to $31.00 and set an “equal weight” rating for the company in a research note on Friday, January 31st. Scotiabank decreased their target price on shares of Murphy Oil from $47.00 to $36.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. Truist Financial cut shares of Murphy Oil from a “buy” rating to a “hold” rating and dropped their price target for the company from $42.00 to $31.00 in a research report on Friday, January 31st. Piper Sandler decreased their price objective on Murphy Oil from $39.00 to $35.00 and set an “overweight” rating for the company in a report on Wednesday, January 29th. Finally, The Goldman Sachs Group dropped their target price on Murphy Oil from $44.00 to $39.00 and set a “neutral” rating on the stock in a report on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $36.33.

Murphy Oil Trading Up 3.6 %

NYSE:MUR opened at $26.47 on Monday. The firm has a fifty day simple moving average of $30.45 and a two-hundred day simple moving average of $33.56. Murphy Oil has a 12 month low of $25.26 and a 12 month high of $49.14. The stock has a market capitalization of $3.86 billion, a price-to-earnings ratio of 9.84 and a beta of 2.14. The company has a current ratio of 0.83, a quick ratio of 0.77 and a debt-to-equity ratio of 0.24.

Murphy Oil (NYSE:MUR) last issued its earnings results on Thursday, January 30th. The oil and gas producer reported $0.35 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.27). Murphy Oil had a net margin of 13.44% and a return on equity of 7.66%. During the same period last year, the company earned $0.90 earnings per share. Analysts expect that Murphy Oil will post 3.33 EPS for the current fiscal year.

Institutional Investors Weigh In On Murphy Oil

A number of hedge funds have recently made changes to their positions in MUR. Covestor Ltd raised its holdings in shares of Murphy Oil by 266.8% in the 3rd quarter. Covestor Ltd now owns 741 shares of the oil and gas producer’s stock worth $25,000 after purchasing an additional 539 shares during the period. Reston Wealth Management LLC bought a new stake in shares of Murphy Oil in the third quarter valued at $27,000. Compass Wealth Management LLC bought a new stake in shares of Murphy Oil in the third quarter valued at $42,000. Bruce G. Allen Investments LLC lifted its position in shares of 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 buying an additional 758 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Murphy Oil by 90.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,758 shares of the oil and gas producer’s stock worth $59,000 after acquiring an additional 833 shares during the period. 78.31% of the stock is currently owned by institutional investors.

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.