Murphy Oil Corporation (NYSE:MUR)‘s stock had its “hold” rating restated by stock analysts at Piper Jaffray Companies in a research note issued to investors on Thursday. They presently have a $31.00 target price on the oil and gas producer’s stock. Piper Jaffray Companies’ price target would indicate a potential upside of 18.64% from the company’s previous close.

A number of other research firms have also recently weighed in on MUR. Zacks Investment Research cut Murphy Oil Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, April 18th. Barclays PLC increased their price target on Murphy Oil Corporation from $46.00 to $52.00 and gave the stock a “buy” rating in a report on Monday, April 17th. ValuEngine upgraded Murphy Oil Corporation from a “sell” rating to a “hold” rating in a report on Friday, July 28th. Simmons increased their price target on Murphy Oil Corporation from $31.00 to $33.00 and gave the stock a “neutral” rating in a report on Wednesday, April 19th. Finally, Royal Bank Of Canada set a $32.00 price target on Murphy Oil Corporation and gave the stock a “hold” rating in a report on Tuesday, April 25th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $31.45.

Shares of Murphy Oil Corporation (NYSE:MUR) opened at 26.13 on Thursday. The company’s market capitalization is $4.51 billion. The stock’s 50 day moving average price is $25.42 and its 200 day moving average price is $26.73. Murphy Oil Corporation has a 52-week low of $23.61 and a 52-week high of $35.19.

Murphy Oil Corporation (NYSE:MUR) last released its quarterly earnings results on Wednesday, August 2nd. The oil and gas producer reported ($0.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.04. The business had revenue of $474.50 million during the quarter, compared to analysts’ expectations of $495.03 million. Murphy Oil Corporation had a negative return on equity of 1.76% and a negative net margin of 1.83%. During the same period in the prior year, the business posted ($0.36) EPS. On average, equities research analysts forecast that Murphy Oil Corporation will post ($0.34) earnings per share for the current fiscal year.

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In related news, VP Allan J. Misner sold 3,795 shares of Murphy Oil Corporation stock in a transaction on Monday, August 7th. The stock was sold at an average price of $26.05, for a total transaction of $98,859.75. Following the completion of the transaction, the vice president now directly owns 100 shares of the company’s stock, valued at $2,605. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 6.89% of the company’s stock.

A number of institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its position in shares of Murphy Oil Corporation by 3,301.1% in the first quarter. BlackRock Inc. now owns 11,897,582 shares of the oil and gas producer’s stock valued at $340,153,000 after buying an additional 11,547,767 shares in the last quarter. Hotchkis & Wiley Capital Management LLC boosted its position in shares of Murphy Oil Corporation by 28.8% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 14,135,770 shares of the oil and gas producer’s stock valued at $404,142,000 after buying an additional 3,162,750 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Murphy Oil Corporation by 76.8% in the first quarter. Dimensional Fund Advisors LP now owns 4,895,083 shares of the oil and gas producer’s stock worth $139,944,000 after buying an additional 2,126,206 shares during the period. AQR Capital Management LLC boosted its position in Murphy Oil Corporation by 194.4% in the first quarter. AQR Capital Management LLC now owns 1,343,561 shares of the oil and gas producer’s stock worth $38,412,000 after buying an additional 887,174 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in Murphy Oil Corporation by 43.4% in the first quarter. Bank of New York Mellon Corp now owns 2,741,204 shares of the oil and gas producer’s stock worth $78,370,000 after buying an additional 830,151 shares during the period. 96.16% of the stock is owned by hedge funds and other institutional investors.

About Murphy Oil Corporation

Murphy Oil Corporation (Murphy) is an oil and gas exploration and production company. The Company’s exploration and production business explores for and produces crude oil, natural gas and natural gas liquids across the world. Its exploration and production activities are subdivided into four geographic segments: the United States, Canada, Malaysia and all other countries.

Analyst Recommendations for Murphy Oil Corporation (NYSE:MUR)

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