Murphy Oil (NYSE:MUR) Price Target Lowered to $35.00 at Piper Sandler

Murphy Oil (NYSE:MUR - Get Free Report) had its price objective decreased by investment analysts at Piper Sandler from $39.00 to $35.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an "overweight" rating on the oil and gas producer's stock. Piper Sandler's price objective points to a potential upside of 20.30% from the stock's current price.

A number of other research firms have also weighed in on MUR. Wells Fargo & Company decreased their target price 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, December 9th. Morgan Stanley reissued an "underweight" rating and set a $37.00 target price on shares of Murphy Oil in a research note on Wednesday, January 22nd. KeyCorp reduced their price objective on Murphy Oil from $54.00 to $50.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 16th. Barclays reduced their price objective on shares of 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, Scotiabank cut their price objective on shares of Murphy Oil from $47.00 to $36.00 and set a "sector perform" rating on the stock in a report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $39.08.

Murphy Oil Stock Down 0.4 %

Shares of Murphy Oil stock traded down $0.11 during trading on Wednesday, reaching $29.09. The company's stock had a trading volume of 2,482,314 shares, compared to its average volume of 2,167,851. The company has a 50-day simple moving average of $30.97 and a two-hundred day simple moving average of $34.05. The company has a market cap of $4.24 billion, a price-to-earnings ratio of 9.39 and a beta of 2.17. 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 has a 1-year low of $27.75 and a 1-year high of $49.14.

Murphy Oil (NYSE:MUR - Get Free Report) last posted its 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). The business had revenue of $758.33 million for the quarter, compared to analyst estimates of $759.74 million. Murphy Oil had a net margin of 14.78% and a return on equity of 9.22%. The company's revenue for the quarter was down 21.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.59 earnings per share. As a group, equities analysts forecast that Murphy Oil will post 3.05 earnings per share for the current year.

Institutional Trading of Murphy Oil

Several institutional investors and hedge funds have recently made changes to their positions in the business. Covestor Ltd grew its position in shares of Murphy Oil by 266.8% in 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 last quarter. Reston Wealth Management LLC bought a new position in Murphy Oil in the third quarter valued at about $27,000. Compass Wealth Management LLC acquired a new stake in Murphy Oil in the third quarter valued at $42,000. Bruce G. Allen Investments LLC increased its position in shares of Murphy Oil by 106.5% during the third quarter. Bruce G. Allen Investments LLC now owns 1,470 shares of the oil and gas producer's stock worth $50,000 after buying an additional 758 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in Murphy Oil by 90.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,758 shares of the oil and gas producer's stock valued at $59,000 after buying an additional 833 shares during the period. 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.