Murphy Oil (NYSE:MUR) Trading 5.5% Higher – Should You Buy?

Shares of Murphy Oil Corporation (NYSE:MUR) were up 5.5% during mid-day trading on Wednesday . The company traded as high as $34.66 and last traded at $34.6820. Approximately 352,676 shares were traded during trading, a decline of 85% from the average session volume of 2,319,890 shares. The stock had previously closed at $32.88.

Analyst Upgrades and Downgrades

Several research firms have weighed in on MUR. Morgan Stanley lowered their price objective on shares of Murphy Oil from $37.00 to $35.00 and set an “underweight” rating on the stock in a research report on Monday, June 29th. Jefferies Financial Group lowered Murphy Oil from a “buy” rating to an “underperform” rating in a report on Thursday, June 4th. Scotiabank reiterated a “sector perform” rating and set a $44.00 price target on shares of Murphy Oil in a report on Wednesday, May 13th. Mizuho upped their price target on Murphy Oil from $39.00 to $44.00 and gave the company a “neutral” rating in a research report on Wednesday, May 27th. Finally, Wells Fargo & Company increased their price objective on Murphy Oil from $32.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 26th. Three research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $38.58.

Murphy Oil Trading Down 0.3%

The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.77 and a current ratio of 0.83. The stock has a market cap of $4.80 billion, a price-to-earnings ratio of 56.79 and a beta of 0.52. The company’s 50 day simple moving average is $36.95 and its two-hundred day simple moving average is $35.55.

Murphy Oil (NYSE:MUR) last posted its quarterly earnings results on Wednesday, May 6th. The oil and gas producer reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.03. Murphy Oil had a net margin of 3.02% and a return on equity of 3.09%. The business had revenue of $732.35 million for the quarter, compared to the consensus estimate of $702.96 million. During the same period in the prior year, the business posted $0.56 earnings per share. Murphy Oil’s revenue for the quarter was up 9.0% compared to the same quarter last year. Research analysts expect that Murphy Oil Corporation will post 3.07 EPS for the current fiscal year.

Institutional Investors Weigh In On Murphy Oil

Institutional investors and hedge funds have recently modified their holdings of the business. CSM Advisors LLC grew its holdings in Murphy Oil by 26.5% in the 3rd quarter. CSM Advisors LLC now owns 233,510 shares of the oil and gas producer’s stock valued at $6,634,000 after buying an additional 48,856 shares during the last quarter. SG Americas Securities LLC increased its position in Murphy Oil by 32.0% during the fourth quarter. SG Americas Securities LLC now owns 122,420 shares of the oil and gas producer’s stock worth $3,826,000 after acquiring an additional 29,689 shares during the period. Pacific Heights Asset Management LLC raised its stake in Murphy Oil by 10.0% during the 4th quarter. Pacific Heights Asset Management LLC now owns 550,000 shares of the oil and gas producer’s stock valued at $17,188,000 after purchasing an additional 50,000 shares during the last quarter. State of Alaska Department of Revenue raised its stake in Murphy Oil by 138.2% during the 4th quarter. State of Alaska Department of Revenue now owns 34,936 shares of the oil and gas producer’s stock valued at $1,090,000 after purchasing an additional 20,271 shares during the last quarter. Finally, Flax Pond Capital LLC bought a new stake in Murphy Oil in the 4th quarter valued at $6,967,000. Institutional investors and hedge funds own 78.31% of the company’s stock.

About Murphy Oil

Murphy Oil Corporation is an independent upstream oil and gas company engaged in the exploration, development and production of crude oil, natural gas and natural gas liquids. The company’s operations encompass conventional onshore and offshore reservoirs, with an emphasis on liquids-rich properties and deepwater assets. Through a combination of proprietary technologies and strategic joint ventures, Murphy Oil seeks to optimize recovery rates and manage its portfolio to balance long-term resource development with operational flexibility.

Murphy Oil’s exploration and production activities are geographically diversified.