Murphy Oil (NYSE:MUR) Price Target Raised to $42.00 at Truist Financial

Murphy Oil (NYSE:MUR - Get Free Report) had its target price upped by research analysts at Truist Financial from $40.00 to $42.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the oil and gas producer's stock. Truist Financial's price objective points to a potential upside of 24.22% from the company's current price.

Other equities research analysts have also recently issued research reports about the stock. Piper Sandler reduced their target price on shares of Murphy Oil from $42.00 to $39.00 and set an "overweight" rating for the company in a research report on Tuesday, December 17th. Mizuho lowered their target price on shares of Murphy Oil from $50.00 to $45.00 and set an "outperform" rating on the stock in a report on Monday, December 16th. Wells Fargo & Company cut their price target on Murphy Oil from $39.00 to $35.00 and set an "equal weight" rating for the company in a research note on Monday, December 9th. Morgan Stanley cut their target price on Murphy Oil from $43.00 to $39.00 and set an "equal weight" rating for the company in a research report on Monday, September 16th. Finally, KeyCorp dropped their price target on Murphy Oil from $54.00 to $50.00 and set an "overweight" rating for the company in a research note on Wednesday, October 16th. Ten research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Murphy Oil currently has a consensus rating of "Hold" and an average price target of $39.58.

Murphy Oil Stock Performance

MUR stock traded up $0.58 during midday trading on Monday, reaching $33.81. 1,744,748 shares of the company were exchanged, compared to its average volume of 2,017,321. The firm has a market capitalization of $4.93 billion, a price-to-earnings ratio of 10.91 and a beta of 2.17. The business has a 50-day moving average price of $31.30 and a two-hundred day moving average price of $34.86. Murphy Oil has a one year low of $27.75 and a one year high of $49.14. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.71 and a quick ratio of 0.65.

Murphy Oil (NYSE:MUR - Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The oil and gas producer reported $0.74 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 company had revenue of $758.33 million during the quarter, compared to analyst estimates of $759.74 million. During the same quarter last year, the company posted $1.59 EPS. The firm's quarterly revenue was down 21.0% on a year-over-year basis. Equities research analysts forecast that Murphy Oil will post 3.15 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP boosted its holdings in shares of Murphy Oil by 3.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 8,254,125 shares of the oil and gas producer's stock worth $340,400,000 after buying an additional 262,256 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Murphy Oil by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 3,548,711 shares of the oil and gas producer's stock worth $119,755,000 after purchasing an additional 45,432 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its stake in shares of Murphy Oil by 2.3% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 2,627,701 shares of the oil and gas producer's stock valued at $88,659,000 after buying an additional 58,220 shares during the period. International Assets Investment Management LLC increased its position in Murphy Oil by 3,191.6% in the 3rd quarter. International Assets Investment Management LLC now owns 1,627,268 shares of the oil and gas producer's stock valued at $54,904,000 after buying an additional 1,577,831 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Murphy Oil by 26.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,595,260 shares of the oil and gas producer's stock worth $53,824,000 after buying an additional 336,372 shares during the period. 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.