KeyCorp Lowers Murphy Oil (NYSE:MUR) Price Target to $37.00

Murphy Oil (NYSE:MUR) had its price target cut by investment analysts at KeyCorp from $50.00 to $37.00 in a report released on Monday,Benzinga reports. The firm presently has an “overweight” rating on the oil and gas producer’s stock. KeyCorp’s price target would suggest a potential upside of 39.81% from the company’s current price.

Several other equities research analysts also recently issued reports on MUR. Piper Sandler lowered their price objective on shares of Murphy Oil from $39.00 to $35.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 29th. Scotiabank reduced 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 note on Thursday, October 10th. The Goldman Sachs Group lowered their price target 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 price target on Murphy Oil from $35.00 to $31.00 and set an “equal weight” rating for the company in a report on Friday, January 31st. Finally, Morgan Stanley reissued an “underweight” rating and set a $37.00 price objective on shares of Murphy Oil in a report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $36.33.

Murphy Oil Stock Performance

NYSE:MUR opened at $26.47 on Monday. 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 has a 1 year low of $25.26 and a 1 year high of $49.14. The firm’s fifty day simple moving average is $30.45 and its 200 day simple moving average is $33.56. The firm has a market capitalization of $3.86 billion, a PE ratio of 9.84 and a beta of 2.14.

Murphy Oil (NYSE:MUR) last posted its quarterly earnings data on Thursday, January 30th. The oil and gas producer reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.27). Murphy Oil had a return on equity of 7.66% and a net margin of 13.44%. During the same period last year, the firm posted $0.90 EPS. On average, sell-side analysts anticipate that Murphy Oil will post 3.33 EPS for the current year.

Institutional Trading of Murphy Oil

Hedge funds have recently modified their holdings of the company. Covestor Ltd grew its position in Murphy Oil by 266.8% during the 3rd quarter. Covestor Ltd now owns 741 shares of the oil and gas producer’s stock worth $25,000 after acquiring an additional 539 shares during the last quarter. Reston Wealth Management LLC acquired a new position in Murphy Oil in the third quarter worth $27,000. Compass Wealth Management LLC bought a new stake in shares of Murphy Oil during the third quarter worth $42,000. Bruce G. Allen Investments LLC raised its holdings in shares of Murphy Oil by 106.5% in the third 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. lifted its position in 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 buying an additional 833 shares in the last quarter. Institutional investors and hedge funds 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.