Piper Sandler Lowers Murphy Oil (NYSE:MUR) Price Target to $39.00

Murphy Oil (NYSE:MUR - Free Report) had its price objective reduced by Piper Sandler from $42.00 to $39.00 in a research report report published on Tuesday,Benzinga reports. They currently have an overweight rating on the oil and gas producer's stock.

Several other research analysts also recently weighed in on MUR. Mizuho decreased their price target on shares of Murphy Oil from $50.00 to $45.00 and set an "outperform" rating on the stock in a research report on Monday. Morgan Stanley lowered their target price on Murphy Oil from $43.00 to $39.00 and set an "equal weight" rating on the stock in a research report on Monday, September 16th. Barclays reduced their price target 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. JPMorgan Chase & Co. lowered their price objective on Murphy Oil from $47.00 to $39.00 and set a "neutral" rating on the stock in a research report on Thursday, September 12th. Finally, Truist Financial cut their price objective on Murphy Oil from $55.00 to $42.00 and set a "buy" rating for the company in a research note on Monday, September 30th. Ten equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $39.58.

Murphy Oil Stock Performance

Shares of MUR stock traded down $0.27 on Tuesday, reaching $29.30. The stock had a trading volume of 1,705,946 shares, compared to its average volume of 1,654,455. The stock has a market cap of $4.27 billion, a P/E ratio of 9.45 and a beta of 2.18. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.65 and a current ratio of 0.71. Murphy Oil has a 1 year low of $28.81 and a 1 year high of $49.14. The company has a 50 day simple moving average of $32.49 and a 200 day simple moving average of $36.20.

Murphy Oil (NYSE:MUR - Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.76 by ($0.02). Murphy Oil had a net margin of 14.78% and a return on equity of 9.22%. The firm had revenue of $758.33 million for the quarter, compared to the consensus estimate of $759.74 million. During the same quarter in the prior year, the firm earned $1.59 earnings per share. The company's revenue for the quarter was down 21.0% compared to the same quarter last year. Equities research analysts expect that Murphy Oil will post 3.15 EPS for the current year.

Murphy Oil Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 18th were given a dividend of $0.30 per share. The ex-dividend date was Monday, November 18th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.10%. Murphy Oil's dividend payout ratio is 38.71%.

Hedge Funds Weigh In On Murphy Oil

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC boosted its position in shares of Murphy Oil by 19.8% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 6,269 shares of the oil and gas producer's stock valued at $259,000 after acquiring an additional 1,036 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in Murphy Oil by 6.3% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 13,851 shares of the oil and gas producer's stock valued at $571,000 after purchasing an additional 815 shares during the last quarter. Raymond James & Associates increased its holdings in shares of Murphy Oil by 5.5% in the 2nd quarter. Raymond James & Associates now owns 121,742 shares of the oil and gas producer's stock worth $5,021,000 after buying an additional 6,341 shares during the last quarter. Fifth Third Wealth Advisors LLC bought a new position in shares of Murphy Oil in the 2nd quarter valued at about $216,000. Finally, Clear Creek Financial Management LLC purchased a new position in Murphy Oil in the second quarter worth about $251,000. 78.31% of the stock is owned by 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.