Murphy Oil (MUR) Sets New 1-Year High After Analyst Upgrade
Murphy Oil Co. (NYSE:MUR) shares reached a new 52-week high during mid-day trading on Thursday after Credit Suisse Group raised their price target on the stock from $37.00 to $39.00. Credit Suisse Group currently has a neutral rating on the stock. Murphy Oil traded as high as $36.53 and last traded at $35.92, with a volume of 399594 shares traded. The stock had previously closed at $31.77.
Other research analysts also recently issued research reports about the company. Zacks Investment Research raised Murphy Oil from a “hold” rating to a “buy” rating and set a $35.00 price target on the stock in a research note on Friday, August 24th. KLR Group reissued a “buy” rating and issued a $39.00 price target on shares of Murphy Oil in a research note on Monday, August 20th. National Alliance Securities raised Murphy Oil from a “hold” rating to a “buy” rating in a research note on Thursday. Barclays increased their price target on Murphy Oil from $34.00 to $36.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 11th. Finally, Wells Fargo & Co cut their price target on Murphy Oil from $36.00 to $34.00 and set a “market perform” rating on the stock in a research note on Friday, August 10th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. Murphy Oil presently has a consensus rating of “Hold” and a consensus price target of $34.80.
A number of institutional investors have recently modified their holdings of MUR. Russell Investments Group Ltd. raised its stake in Murphy Oil by 22.8% during the 1st quarter. Russell Investments Group Ltd. now owns 263,181 shares of the oil and gas producer’s stock worth $6,797,000 after buying an additional 48,888 shares during the period. Sei Investments Co. raised its stake in Murphy Oil by 98.2% during the 1st quarter. Sei Investments Co. now owns 8,877 shares of the oil and gas producer’s stock worth $229,000 after buying an additional 4,398 shares during the period. OppenheimerFunds Inc. raised its stake in Murphy Oil by 19.7% during the 1st quarter. OppenheimerFunds Inc. now owns 23,788 shares of the oil and gas producer’s stock worth $615,000 after buying an additional 3,909 shares during the period. Principal Financial Group Inc. raised its stake in Murphy Oil by 4.3% during the 1st quarter. Principal Financial Group Inc. now owns 1,092,164 shares of the oil and gas producer’s stock worth $28,221,000 after buying an additional 44,877 shares during the period. Finally, Nuveen Asset Management LLC raised its stake in Murphy Oil by 33.0% during the 1st quarter. Nuveen Asset Management LLC now owns 49,571 shares of the oil and gas producer’s stock worth $1,281,000 after buying an additional 12,300 shares during the period. 89.65% of the stock is currently owned by institutional investors and hedge funds.
Murphy Oil (NYSE:MUR) last issued its quarterly earnings data on Wednesday, August 8th. The oil and gas producer reported $0.36 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.01. The business had revenue of $655.15 million for the quarter, compared to the consensus estimate of $623.76 million. Murphy Oil had a positive return on equity of 2.32% and a negative net margin of 6.19%. The firm’s revenue was up 37.2% compared to the same quarter last year. During the same quarter last year, the business posted ($0.11) EPS. Equities research analysts predict that Murphy Oil Co. will post 1.64 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 3rd. Shareholders of record on Monday, November 12th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend is Thursday, November 8th. Murphy Oil’s dividend payout ratio (DPR) is presently -769.23%.
Murphy Oil Company Profile (NYSE:MUR)
Murphy Oil Corporation operates as an oil and gas exploration and production company worldwide. 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. Murphy Oil Corporation was founded in 1950 and is headquartered in El Dorado, Arkansas.
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