Murphy Oil (NYSE:MUR) Price Target Lowered to $23.00 at UBS Group

Murphy Oil (NYSE:MUR - Get Free Report) had its target price dropped by analysts at UBS Group from $28.00 to $23.00 in a report released on Monday,Benzinga reports. The brokerage currently has a "neutral" rating on the oil and gas producer's stock. UBS Group's price objective indicates a potential upside of 10.07% from the stock's current price.

MUR has been the topic of several other research reports. Morgan Stanley cut their target price on Murphy Oil from $37.00 to $32.00 and set an "underweight" rating on the stock in a research report on Thursday, March 27th. JPMorgan Chase & Co. reduced their target price on shares of Murphy Oil from $33.00 to $28.00 and set a "neutral" rating on the stock in a research note on Thursday, March 13th. Barclays dropped their price target on shares of Murphy Oil from $34.00 to $32.00 and set an "equal weight" rating for the company in a research note on Tuesday, March 18th. Mizuho decreased their price objective on shares of Murphy Oil from $50.00 to $45.00 and set an "outperform" rating for the company in a research note on Monday, December 16th. Finally, KeyCorp dropped their target price on Murphy Oil from $50.00 to $37.00 and set an "overweight" rating for the company in a research report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $33.15.

Murphy Oil Price Performance

NYSE MUR traded up $0.93 during trading on Monday, hitting $20.90. 3,609,526 shares of the stock traded hands, compared to its average volume of 2,013,343. The company has a market capitalization of $2.98 billion, a P/E ratio of 7.77 and a beta of 1.68. Murphy Oil has a 12-month low of $18.95 and a 12-month high of $48.64. The firm has a 50-day simple moving average of $26.03 and a 200-day simple moving average of $29.78. The company has a quick ratio of 0.77, a current ratio of 0.83 and a debt-to-equity ratio of 0.24.

Murphy Oil (NYSE:MUR - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The oil and gas producer reported $0.35 EPS for the quarter, missing analysts' consensus estimates 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 quarter in the prior year, the company posted $0.90 earnings per share. As a group, analysts predict that Murphy Oil will post 2.94 EPS for the current year.

Insider Activity

In related news, VP Meenambigai Palanivelu purchased 1,573 shares of the business's stock in a transaction dated Wednesday, February 5th. The shares were acquired at an average cost of $26.70 per share, for a total transaction of $41,999.10. Following the acquisition, the vice president now owns 37,065 shares of the company's stock, valued at $989,635.50. The trade was a 4.43 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Claiborne P. Deming acquired 50,000 shares of the firm's stock in a transaction that occurred on Tuesday, February 4th. The shares were bought at an average price of $26.47 per share, with a total value of $1,323,500.00. Following the completion of the purchase, the director now directly owns 931,651 shares in the company, valued at $24,660,801.97. The trade was a 5.67 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 5.92% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Foundry Partners LLC boosted its stake in Murphy Oil by 17.9% in the fourth quarter. Foundry Partners LLC now owns 227,680 shares of the oil and gas producer's stock valued at $6,890,000 after acquiring an additional 34,620 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of 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 worth $56,214,000 after purchasing an additional 13,263 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Murphy Oil in the 4th quarter worth $618,000. Proficio Capital Partners LLC purchased a new position in Murphy Oil during the 4th quarter worth $678,000. Finally, Twin Tree Management LP acquired a new position in Murphy Oil during the 4th quarter valued at about $1,230,000. 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.