Murphy Oil (NYSE:MUR) Price Target Cut to $34.00 by Analysts at UBS Group

Murphy Oil (NYSE:MUR - Free Report) had its price target reduced by UBS Group from $38.00 to $34.00 in a research note published on Monday,Benzinga reports. They currently have a neutral rating on the oil and gas producer's stock.

MUR has been the topic of a number of other reports. Wells Fargo & Company dropped their price target on shares of Murphy Oil from $39.00 to $35.00 and set an "equal weight" rating on the stock in a research note on Monday. Piper Sandler dropped their target price on Murphy Oil from $43.00 to $42.00 and set an "overweight" rating on the stock in a research report on Monday, November 18th. The Goldman Sachs Group reduced their price target on Murphy Oil from $44.00 to $39.00 and set a "neutral" rating for the company in a report on Monday, October 7th. Barclays dropped their price objective on Murphy Oil from $38.00 to $37.00 and set an "equal weight" rating on the stock in a report on Monday, November 11th. Finally, Truist Financial reduced their target price on Murphy Oil from $55.00 to $42.00 and set a "buy" rating for the company in a report on Monday, September 30th. Ten analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Murphy Oil currently has an average rating of "Hold" and an average target price of $40.25.

Murphy Oil Stock Performance

Shares of NYSE MUR traded down $0.27 during midday trading on Monday, reaching $30.27. 1,988,579 shares of the company were exchanged, compared to its average volume of 1,655,855. The stock has a market cap of $4.41 billion, a P/E ratio of 9.86 and a beta of 2.18. Murphy Oil has a 1 year low of $29.84 and a 1 year high of $49.14. The stock has a fifty day simple moving average of $33.00 and a 200 day simple moving average of $36.61. The company has a current ratio of 0.71, a quick ratio of 0.65 and a debt-to-equity ratio of 0.24.

Murphy Oil (NYSE:MUR - Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The oil and gas producer reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.02). The company had revenue of $758.33 million for 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%. Murphy Oil'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 earned $1.59 earnings per share. On average, research analysts forecast that Murphy Oil will post 3.15 earnings per share for the current fiscal year.

Murphy Oil Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 18th were given a $0.30 dividend. The ex-dividend date was Monday, November 18th. This represents a $1.20 annualized dividend and a dividend yield of 3.96%. Murphy Oil's dividend payout ratio is presently 38.71%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Quadrature Capital Ltd purchased a new position in Murphy Oil during the third quarter worth $1,217,000. Mutual of America Capital Management LLC increased its position in Murphy Oil by 21.2% during the 2nd quarter. Mutual of America Capital Management LLC now owns 218,739 shares of the oil and gas producer's stock worth $9,021,000 after purchasing an additional 38,334 shares in the last quarter. Oppenheimer Asset Management Inc. raised its stake in Murphy Oil by 24.2% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 166,316 shares of the oil and gas producer's stock valued at $6,859,000 after purchasing an additional 32,411 shares during the last quarter. Prospector Partners LLC lifted its holdings in Murphy Oil by 50.5% in the 3rd quarter. Prospector Partners LLC now owns 307,092 shares of the oil and gas producer's stock valued at $10,361,000 after purchasing an additional 103,092 shares in the last quarter. Finally, Cetera Investment Advisers acquired a new stake in shares of Murphy Oil during the 1st quarter worth about $1,700,000. 78.31% of the stock is owned by hedge funds and other 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.