Murphy Oil (NYSE:MUR) Stock Price Expected to Rise, Truist Financial Analyst Says

Murphy Oil (NYSE:MUR) had its price objective upped by analysts at Truist Financial from $40.00 to $42.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the oil and gas producer’s stock. Truist Financial’s price target would indicate a potential upside of 23.78% from the company’s current price.

MUR has been the topic of several other research reports. Wells Fargo & Company cut their price objective on Murphy Oil from $39.00 to $35.00 and set an “equal weight” rating on the stock in a report on Monday, December 9th. UBS Group cut their price objective on Murphy Oil from $38.00 to $34.00 and set a “neutral” rating on the stock in a report on Monday, December 9th. BMO Capital Markets cut their price objective on Murphy Oil from $42.00 to $40.00 and set a “market perform” rating on the stock in a report on Friday, October 4th. Morgan Stanley cut their price objective 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. Finally, Scotiabank cut their price objective on Murphy Oil from $47.00 to $36.00 and set a “sector perform” rating on the stock in a report on Thursday, October 10th. Ten investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $39.58.

Murphy Oil Trading Up 0.3 %

Shares of MUR stock opened at $33.93 on Monday. The stock’s fifty day moving average price is $31.34 and its two-hundred day moving average price is $34.81. The company has a market cap of $4.95 billion, a PE ratio of 10.95 and a beta of 2.17. Murphy Oil has a fifty-two week low of $27.75 and a fifty-two week high of $49.14. 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 (NYSE:MUR) last issued its earnings results on Thursday, November 7th. The oil and gas producer reported $0.74 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.02). The business had revenue of $758.33 million during 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%. The company’s revenue for the quarter was down 21.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.59 EPS. Equities analysts predict that Murphy Oil will post 3.15 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in MUR. International Assets Investment Management LLC raised its position in shares of Murphy Oil by 3,191.6% in the 3rd quarter. International Assets Investment Management LLC now owns 1,627,268 shares of the oil and gas producer’s stock worth $54,904,000 after acquiring an additional 1,577,831 shares in the last quarter. Barclays PLC raised its position in shares of Murphy Oil by 399.4% in the 3rd quarter. Barclays PLC now owns 1,012,944 shares of the oil and gas producer’s stock worth $34,177,000 after acquiring an additional 810,104 shares in the last quarter. Wedge Capital Management L L P NC raised its position in shares of Murphy Oil by 641.7% in the 3rd quarter. Wedge Capital Management L L P NC now owns 672,717 shares of the oil and gas producer’s stock worth $22,697,000 after acquiring an additional 582,020 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Murphy Oil by 26.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,595,260 shares of the oil and gas producer’s stock worth $53,824,000 after acquiring an additional 336,372 shares in the last quarter. Finally, Squarepoint Ops LLC raised its position in shares of Murphy Oil by 92.1% in the 2nd quarter. Squarepoint Ops LLC now owns 687,254 shares of the oil and gas producer’s stock worth $28,342,000 after acquiring an additional 329,521 shares in 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.