Wells Fargo & Company Cuts Murphy Oil (NYSE:MUR) Price Target to $31.00

Murphy Oil (NYSE:MUR) had its price target decreased by Wells Fargo & Company from $35.00 to $31.00 in a research report released on Friday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the oil and gas producer’s stock.

MUR has been the subject of several other reports. Scotiabank lowered their target price on 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. Barclays lowered their target price on Murphy Oil from $38.00 to $37.00 and set an “equal weight” rating for the company in a research note on Monday, November 11th. Morgan Stanley restated an “underweight” rating and set a $37.00 target price on shares of Murphy Oil in a research note on Wednesday, January 22nd. UBS Group decreased their price target on Murphy Oil from $38.00 to $34.00 and set a “neutral” rating for the company in a research note on Monday, December 9th. Finally, The Goldman Sachs Group decreased their price target on Murphy Oil from $44.00 to $39.00 and set a “neutral” rating for the company in a research note on Monday, October 7th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Murphy Oil has an average rating of “Hold” and an average price target of $37.83.

Murphy Oil Trading Down 3.3 %

NYSE:MUR opened at $26.57 on Friday. The business’s 50-day moving average is $30.72 and its two-hundred day moving average is $33.78. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.71 and a quick ratio of 0.65. Murphy Oil has a 12 month low of $26.47 and a 12 month high of $49.14. The firm has a market capitalization of $3.88 billion, a PE ratio of 8.57 and a beta of 2.17.

Murphy Oil (NYSE:MUR) last announced its earnings results 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 net margin of 14.78% and a return on equity of 9.22%. During the same period last year, the company earned $0.90 EPS. Research analysts predict that Murphy Oil will post 2.99 earnings per share for the current fiscal year.

Murphy Oil Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Tuesday, February 18th will be issued a $0.325 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $1.30 dividend on an annualized basis and a yield of 4.89%. This is a boost from Murphy Oil’s previous quarterly dividend of $0.30. Murphy Oil’s dividend payout ratio (DPR) is currently 38.71%.

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% during the third quarter. Covestor Ltd now owns 741 shares of the oil and gas producer’s stock valued at $25,000 after buying an additional 539 shares during the last quarter. Reston Wealth Management LLC bought a new stake in shares of Murphy Oil during the third quarter valued at approximately $27,000. Compass Wealth Management LLC bought a new stake in shares of Murphy Oil during the third quarter valued at approximately $42,000. Bruce G. Allen Investments LLC raised its holdings in shares of Murphy Oil by 106.5% during 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. raised its holdings in Murphy Oil by 90.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,758 shares of the oil and gas producer’s stock worth $59,000 after purchasing an additional 833 shares in the last quarter. 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.