Murphy Oil (NYSE:MUR) PT Lowered to $39.00

Murphy Oil (NYSE:MURFree Report) had its price target reduced by The Goldman Sachs Group from $44.00 to $39.00 in a research note published on Monday, Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the oil and gas producer’s stock.

A number of other analysts have also recently commented on MUR. UBS Group reduced their price objective on Murphy Oil from $45.00 to $39.00 and set a neutral rating for the company in a research report on Wednesday, September 18th. Barclays lowered their price objective on shares of Murphy Oil from $46.00 to $38.00 and set an equal weight rating on the stock in a research note on Thursday, October 3rd. Morgan Stanley cut their target price on shares of 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. Truist Financial decreased their price target on shares of Murphy Oil from $55.00 to $42.00 and set a buy rating on the stock in a research report on Monday, September 30th. Finally, Mizuho cut their price objective on shares of Murphy Oil from $59.00 to $50.00 and set an outperform rating for the company in a research report on Monday, September 16th. Ten equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Murphy Oil currently has an average rating of Hold and a consensus target price of $42.38.

View Our Latest Stock Report on Murphy Oil

Murphy Oil Stock Performance

Shares of NYSE MUR opened at $35.03 on Monday. The firm’s 50-day moving average price is $36.03 and its 200-day moving average price is $40.53. Murphy Oil has a 52-week low of $32.53 and a 52-week high of $49.14. The company has a market cap of $5.34 billion, a PE ratio of 9.76 and a beta of 2.20. The company has a quick ratio of 0.76, a current ratio of 0.82 and a debt-to-equity ratio of 0.23.

Murphy Oil (NYSE:MURGet Free Report) last issued its earnings results on Thursday, August 8th. The oil and gas producer reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.08. The company had revenue of $802.80 million for the quarter, compared to analysts’ expectations of $813.97 million. Murphy Oil had a net margin of 17.32% and a return on equity of 11.68%. The firm’s quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter last year, the company posted $0.79 earnings per share. As a group, analysts anticipate that Murphy Oil will post 3.57 EPS for the current year.

Murphy Oil Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be given a $0.30 dividend. The ex-dividend date is Monday, November 18th. This represents a $1.20 annualized dividend and a dividend yield of 3.43%. Murphy Oil’s payout ratio is 33.43%.

Hedge Funds Weigh In On Murphy Oil

A number of hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP lifted its holdings in Murphy Oil by 3.3% in 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 purchasing an additional 262,256 shares in the last quarter. Earnest Partners LLC lifted its holdings in shares of Murphy Oil by 7.7% in the first quarter. Earnest Partners LLC now owns 2,737,409 shares of the oil and gas producer’s stock worth $125,100,000 after buying an additional 195,906 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Murphy Oil by 5.3% during the second quarter. Bank of New York Mellon Corp now owns 2,138,985 shares of the oil and gas producer’s stock worth $88,212,000 after acquiring an additional 107,462 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its stake in Murphy Oil by 23.0% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 1,132,305 shares of the oil and gas producer’s stock valued at $51,746,000 after acquiring an additional 212,100 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in Murphy Oil by 90.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,092,374 shares of the oil and gas producer’s stock valued at $45,050,000 after acquiring an additional 518,904 shares during the last quarter. Institutional investors own 78.31% of the company’s stock.

Murphy Oil Company Profile

(Get Free Report)

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.

See Also

Analyst Recommendations for Murphy Oil (NYSE:MUR)

Receive News & Ratings for Murphy Oil Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Murphy Oil and related companies with MarketBeat.com's FREE daily email newsletter.