UBS Group Issues Pessimistic Forecast for Murphy Oil (NYSE:MUR) Stock Price

Murphy Oil (NYSE:MUR) had its price objective cut by stock analysts at UBS Group from $34.00 to $32.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “neutral” rating on the oil and gas producer’s stock. UBS Group’s target price points to a potential upside of 20.91% from the stock’s previous close.

A number of other brokerages also recently weighed in on MUR. KeyCorp lowered their price objective on shares of Murphy Oil from $50.00 to $37.00 and set an “overweight” rating on the stock in a research report on Monday. Mizuho lowered their price target on Murphy Oil from $50.00 to $45.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Barclays reduced their price objective on Murphy Oil from $38.00 to $37.00 and set an “equal weight” rating for the company in a research report on Monday, November 11th. 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 research report on Monday, October 7th. Finally, Piper Sandler reduced their price target on shares of Murphy Oil from $39.00 to $35.00 and set an “overweight” rating for the company in a research report on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $36.33.

Murphy Oil Stock Performance

Shares of MUR opened at $26.47 on Monday. The company has a market cap of $3.86 billion, a price-to-earnings ratio of 9.84 and a beta of 2.14. The business’s fifty day simple moving average is $30.45 and its two-hundred day simple moving average is $33.56. Murphy Oil has a 12 month low of $25.26 and a 12 month high of $49.14. 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 released its quarterly earnings data 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 in the previous year, the firm earned $0.90 EPS. Research analysts anticipate that Murphy Oil will post 3.33 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Murphy Oil

Hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp increased its holdings in Murphy Oil by 0.7% in the 4th quarter. Bank of New York Mellon Corp now owns 1,857,702 shares of the oil and gas producer’s stock valued at $56,214,000 after acquiring an additional 13,263 shares during the last quarter. IFP Advisors Inc grew its position in shares of Murphy Oil by 67.5% during the fourth quarter. IFP Advisors Inc now owns 6,337 shares of the oil and gas producer’s stock valued at $192,000 after purchasing an additional 2,553 shares in the last quarter. Ieq Capital LLC bought a new stake in shares of Murphy Oil in the fourth quarter worth about $233,000. Alberta Investment Management Corp boosted its stake in Murphy Oil by 188.5% during the fourth quarter. Alberta Investment Management Corp now owns 204,520 shares of the oil and gas producer’s stock valued at $6,189,000 after buying an additional 133,640 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its stake in Murphy Oil by 1.1% during the fourth quarter. New York State Common Retirement Fund now owns 815,326 shares of the oil and gas producer’s stock valued at $24,672,000 after buying an additional 8,666 shares during the last quarter. Hedge funds and other institutional investors own 78.31% of the company’s stock.

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.