Murphy Oil (NYSE:MUR) Price Target Lowered to $30.00 at Piper Sandler

Murphy Oil (NYSE:MUR) had its target price cut by equities researchers at Piper Sandler from $35.00 to $30.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the oil and gas producer’s stock. Piper Sandler’s price objective would suggest a potential upside of 30.72% from the stock’s current price.

MUR has been the topic of several other research reports. Scotiabank decreased their price target on Murphy Oil from $36.00 to $22.00 and set a “sector perform” rating on the stock in a report on Friday, April 11th. Barclays cut their target price on shares of Murphy Oil from $24.00 to $22.00 and set an “underweight” rating on the stock in a research report on Friday, May 9th. Roth Capital set a $37.00 price target on shares of Murphy Oil in a research report on Thursday, January 23rd. Mizuho lowered shares of Murphy Oil from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $32.00 to $31.00 in a report on Tuesday. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of Murphy Oil in a report on Monday, April 21st. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $30.23.

Murphy Oil Price Performance

Shares of MUR stock opened at $22.95 on Tuesday. Murphy Oil has a 1 year low of $18.95 and a 1 year high of $43.98. The company has a current ratio of 0.83, a quick ratio of 0.77 and a debt-to-equity ratio of 0.24. The firm’s 50 day moving average is $23.44 and its 200-day moving average is $27.78. The firm has a market capitalization of $3.28 billion, a price-to-earnings ratio of 8.53 and a beta of 1.10.

Murphy Oil (NYSE:MUR) last posted its quarterly earnings data on Wednesday, May 7th. The oil and gas producer reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.08. The firm had revenue of $665.71 million for the quarter, compared to the consensus estimate of $684.89 million. Murphy Oil had a return on equity of 7.66% and a net margin of 13.44%. The business’s revenue for the quarter was down 15.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.85 EPS. Sell-side analysts forecast that Murphy Oil will post 2.94 EPS for the current fiscal year.

Hedge Funds Weigh In On Murphy Oil

Institutional investors and hedge funds have recently made changes to their positions in the company. Huntington National Bank raised its stake in Murphy Oil by 342.8% during the 4th quarter. Huntington National Bank now owns 828 shares of the oil and gas producer’s stock worth $25,000 after buying an additional 641 shares during the period. Riverview Trust Co bought a new stake in shares of Murphy Oil in the first quarter worth about $26,000. Brooklyn Investment Group raised its position in shares of Murphy Oil by 3,989.7% during the first quarter. Brooklyn Investment Group now owns 1,186 shares of the oil and gas producer’s stock worth $34,000 after purchasing an additional 1,157 shares during the period. GeoWealth Management LLC bought a new position in shares of Murphy Oil during the 4th quarter valued at about $39,000. Finally, Lindbrook Capital LLC lifted its holdings in shares of Murphy Oil by 60.5% during the 4th quarter. Lindbrook Capital LLC now owns 1,441 shares of the oil and gas producer’s stock valued at $44,000 after purchasing an additional 543 shares in the last quarter. Institutional investors and hedge funds own 78.31% of the company’s stock.

About Murphy Oil

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.