Barclays Cuts Murphy Oil (NYSE:MUR) Price Target to $37.00

Murphy Oil (NYSE:MUR - Get Free Report) had its price target dropped by analysts at Barclays from $38.00 to $37.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has an "equal weight" rating on the oil and gas producer's stock. Barclays's price objective would suggest a potential upside of 10.27% from the company's current price.

Several other equities research analysts have also issued reports on MUR. The Goldman Sachs Group dropped their price objective on shares of Murphy Oil from $44.00 to $39.00 and set a "neutral" rating for the company in a research report on Monday, October 7th. Truist Financial dropped their price target on Murphy Oil from $55.00 to $42.00 and set a "buy" rating on the stock in a research note on Monday, September 30th. JPMorgan Chase & Co. dropped their price objective on shares of Murphy Oil from $47.00 to $39.00 and set a "neutral" rating on the stock in a research note on Thursday, September 12th. UBS Group lowered their target price on shares of Murphy Oil from $45.00 to $39.00 and set a "neutral" rating on the stock in a research report on Wednesday, September 18th. Finally, Morgan Stanley dropped their price objective on shares of Murphy Oil from $43.00 to $39.00 and set an "equal weight" rating on the stock in a report on Monday, September 16th. Ten investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $41.08.

Murphy Oil Stock Performance

Shares of Murphy Oil stock traded down $0.05 on Monday, hitting $33.56. The stock had a trading volume of 1,968,315 shares, compared to its average volume of 1,667,201. The stock has a market cap of $4.89 billion, a price-to-earnings ratio of 10.82 and a beta of 2.21. The company has a current ratio of 0.71, a quick ratio of 0.76 and a debt-to-equity ratio of 0.24. Murphy Oil has a 52-week low of $30.99 and a 52-week high of $49.14. The company's 50 day moving average price is $33.94 and its 200 day moving average price is $38.26.

Murphy Oil (NYSE:MUR - Get Free Report) last released its earnings results on Thursday, November 7th. The oil and gas producer reported $0.74 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.02). The firm had revenue of $758.33 million during the quarter, compared to analyst estimates of $759.74 million. Murphy Oil had a return on equity of 9.22% and a net margin of 14.78%. The firm's revenue was down 21.0% on a year-over-year basis. During the same quarter last year, the business posted $1.59 EPS. On average, research analysts anticipate that Murphy Oil will post 3.45 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Covestor Ltd grew its holdings in 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 purchasing an additional 539 shares during the period. Mather Group LLC. increased its holdings in shares of Murphy Oil by 1,015.7% in the 2nd quarter. Mather Group LLC. now owns 569 shares of the oil and gas producer's stock worth $26,000 after buying an additional 518 shares during the last quarter. Reston Wealth Management LLC purchased a new stake in Murphy Oil during the third quarter valued at about $27,000. Compass Wealth Management LLC bought a new stake in Murphy Oil in the 3rd quarter worth approximately $42,000. Finally, Bruce G. Allen Investments LLC grew its holdings 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 purchasing an additional 758 shares during the last quarter. Hedge funds and other 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.