Mizuho Lowers Murphy Oil (NYSE:MUR) Price Target to $45.00

Murphy Oil (NYSE:MUR - Get Free Report) had its price objective dropped by stock analysts at Mizuho from $50.00 to $45.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an "outperform" rating on the oil and gas producer's stock. Mizuho's price target indicates a potential upside of 52.18% from the stock's previous close.

Several other equities analysts also recently weighed in on the company. BMO Capital Markets reduced their price target on Murphy Oil from $42.00 to $40.00 and set a "market perform" rating for the company in a report on Friday, October 4th. UBS Group decreased their target price on shares of Murphy Oil from $38.00 to $34.00 and set a "neutral" rating for the company in a report on Monday, December 9th. Wells Fargo & Company cut 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 report on Monday, December 9th. Truist Financial lowered their price objective on Murphy Oil from $55.00 to $42.00 and set a "buy" rating on the stock in a research report on Monday, September 30th. Finally, KeyCorp reduced their target price on Murphy Oil from $54.00 to $50.00 and set an "overweight" rating for the company in a report on Wednesday, October 16th. Ten equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $39.83.

Murphy Oil Trading Down 2.4 %

Shares of MUR traded down $0.72 during mid-day trading on Monday, hitting $29.57. 1,548,969 shares of the company's stock traded hands, compared to its average volume of 1,654,217. The business's 50-day moving average price is $32.62 and its 200-day moving average price is $36.28. Murphy Oil has a 1 year low of $29.35 and a 1 year high of $49.14. The firm has a market capitalization of $4.31 billion, a P/E ratio of 9.77 and a beta of 2.18. The company has a quick ratio of 0.65, a current ratio of 0.71 and a debt-to-equity ratio of 0.24.

Murphy Oil (NYSE:MUR - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $758.33 million during the quarter, compared to the consensus estimate 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 for the quarter was down 21.0% compared to the same quarter last year. During the same quarter last year, the company posted $1.59 earnings per share. As a group, sell-side analysts forecast that Murphy Oil will post 3.15 EPS for the current fiscal year.

Hedge Funds Weigh In On Murphy Oil

Institutional investors and hedge funds have recently bought and sold shares of the stock. Covestor Ltd lifted its position in shares of Murphy Oil by 266.8% during the 3rd 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 in the last quarter. Reston Wealth Management LLC purchased a new position in Murphy Oil during the third quarter valued at approximately $27,000. Compass Wealth Management LLC bought a new position in shares of Murphy Oil in the third quarter worth approximately $42,000. Headlands Technologies LLC increased its stake in shares of Murphy Oil by 1,434.5% in the second quarter. Headlands Technologies LLC now owns 1,289 shares of the oil and gas producer's stock worth $53,000 after purchasing an additional 1,205 shares in the last quarter. Finally, Bruce G. Allen Investments LLC raised its position 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 period. 78.31% of the stock is currently owned by hedge funds and other institutional investors.

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.