Murphy Oil (NYSE:MUR) Given New $44.00 Price Target at Mizuho

Murphy Oil (NYSE:MUR) had its price target raised by equities research analysts at Mizuho from $41.00 to $44.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the oil and gas producer’s stock. Mizuho’s price target would suggest a potential upside of 12.52% from the company’s current price.

Other research analysts have also issued research reports about the stock. Seaport Research Partners assumed coverage on shares of Murphy Oil in a research note on Thursday, September 3rd. They set a “neutral” rating on the stock. Weiss Ratings raised Murphy Oil from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, October 6th. Morgan Stanley reissued an “underweight” rating and set a $36.00 target price on shares of Murphy Oil in a report on Wednesday, August 19th. UBS Group upped their target price on Murphy Oil from $38.00 to $40.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, Barclays lowered Murphy Oil from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $38.00 to $34.00 in a research note on Friday, August 14th. Four analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $39.45.

Murphy Oil Price Performance

MUR traded up $0.07 on Wednesday, reaching $39.10. The company had a trading volume of 472,101 shares, compared to its average volume of 2,085,062. The company has a fifty day moving average of $36.81 and a 200-day moving average of $37.39. The company has a market capitalization of $5.61 billion, a P/E ratio of 19.32 and a beta of 0.59. The company has a current ratio of 0.85, a quick ratio of 0.80 and a debt-to-equity ratio of 0.29. Murphy Oil has a one year low of $26.49 and a one year high of $43.34.

Murphy Oil (NYSE:MUR) last released its quarterly earnings results on Wednesday, August 5th. The oil and gas producer reported $1.55 EPS for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.02). The company had revenue of $926.33 million for the quarter, compared to the consensus estimate of $888.51 million. Murphy Oil had a return on equity of 6.63% and a net margin of 9.74%. The firm’s quarterly revenue was up 33.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.27 earnings per share. As a group, equities research analysts anticipate that Murphy Oil will post 2.64 earnings per share for the current year.

Institutional Trading of Murphy Oil

Several hedge funds and other institutional investors have recently modified their holdings of MUR. Leonteq Securities AG acquired a new stake in Murphy Oil during the first quarter valued at approximately $29,000. Valued Wealth Advisors LLC raised its holdings in shares of Murphy Oil by 14,700.0% in the 1st quarter. Valued Wealth Advisors LLC now owns 740 shares of the oil and gas producer’s stock worth $31,000 after buying an additional 735 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Murphy Oil during the 2nd quarter worth approximately $54,000. Farther Finance Advisors LLC lifted its position in shares of Murphy Oil by 64.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,779 shares of the oil and gas producer’s stock worth $66,000 after buying an additional 699 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Murphy Oil by 32.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,352 shares of the oil and gas producer’s stock worth $97,000 after buying an additional 581 shares during the period. 78.31% of the stock is currently owned by hedge funds and other institutional investors.

Murphy Oil Company Profile

Murphy Oil Corporation (NYSE:MUR) is an independent oil and natural gas exploration and production company. Its activities include identifying, acquiring, developing and producing crude oil, natural gas and natural gas liquids.

The company’s current operations are concentrated in the United States and Canada. In the United States, Murphy Oil has assets in the Eagle Ford and Gulf Coast onshore regions, as well as interests in the Gulf of Mexico. In Canada, the company operates in Western Canadian plays, including the Tupper Montney area.

Murphy Oil was incorporated in 1950 and has historically pursued exploration and production opportunities in several international markets in addition to North America.