Murphy Oil (NYSE:MUR) Given New $26.00 Price Target at Scotiabank

Murphy Oil (NYSE:MUR) had its price objective increased by Scotiabank from $22.00 to $26.00 in a research note published on Friday morning,Benzinga reports. Scotiabank currently has a sector perform rating on the oil and gas producer’s stock.

Several other equities research analysts have also issued reports on the company. Wells Fargo & Company set a $24.00 target price on Murphy Oil and gave the company an “equal weight” rating in a research report on Thursday, June 26th. JPMorgan Chase & Co. decreased their target price on Murphy Oil from $33.00 to $28.00 and set a “neutral” rating for the company in a research report on Thursday, March 13th. Mizuho lowered Murphy Oil from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $32.00 to $31.00 in a report on Tuesday, May 13th. Johnson Rice lowered Murphy Oil from an “accumulate” rating to a “hold” rating in a report on Wednesday, May 21st. Finally, Morgan Stanley decreased their price objective on Murphy Oil from $27.00 to $26.00 and set an “underweight” rating for the company in a report on Friday, May 23rd. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $29.46.

Murphy Oil Trading Up 1.0%

Shares of Murphy Oil stock opened at $26.49 on Friday. Murphy Oil has a 1 year low of $18.95 and a 1 year high of $43.02. The firm has a market cap of $3.78 billion, a PE ratio of 10.19 and a beta of 1.09. The stock has a fifty day moving average price of $22.97 and a 200-day moving average price of $25.37. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.76 and a quick ratio of 0.69.

Murphy Oil (NYSE:MUR) last announced its earnings results on Wednesday, May 7th. The oil and gas producer reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.08. Murphy Oil had a return on equity of 6.81% and a net margin of 13.47%. The firm had revenue of $665.71 million during the quarter, compared to analyst estimates of $684.89 million. During the same period last year, the firm posted $0.85 EPS. The business’s revenue was down 15.4% compared to the same quarter last year. Equities research analysts anticipate that Murphy Oil will post 2.94 EPS for the current year.

Institutional Trading of Murphy Oil

Several hedge funds and other institutional investors have recently bought and sold shares of MUR. Headlands Technologies LLC increased its stake in shares of Murphy Oil by 32.9% during the fourth quarter. Headlands Technologies LLC now owns 1,903 shares of the oil and gas producer’s stock valued at $58,000 after buying an additional 471 shares during the period. Fifth Third Bancorp increased its stake in shares of Murphy Oil by 2.8% during the first quarter. Fifth Third Bancorp now owns 18,060 shares of the oil and gas producer’s stock valued at $513,000 after buying an additional 499 shares during the period. Mustard Seed Financial LLC increased its stake in shares of Murphy Oil by 2.9% during the first quarter. Mustard Seed Financial LLC now owns 17,861 shares of the oil and gas producer’s stock valued at $507,000 after buying an additional 500 shares during the period. Penserra Capital Management LLC increased its stake in shares of Murphy Oil by 3.2% during the first quarter. Penserra Capital Management LLC now owns 17,367 shares of the oil and gas producer’s stock valued at $493,000 after buying an additional 532 shares during the period. Finally, Jones Financial Companies Lllp increased its stake in shares of Murphy Oil by 32.9% during the fourth quarter. Jones Financial Companies Lllp now owns 2,284 shares of the oil and gas producer’s stock valued at $69,000 after buying an additional 565 shares during the period. Institutional investors 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.