Mizuho Forecasts Strong Price Appreciation for Murphy Oil (NYSE:MUR) Stock

Murphy Oil (NYSE:MUR) had its price target increased by investment analysts at Mizuho from $29.00 to $30.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the oil and gas producer’s stock. Mizuho’s price target would indicate a potential upside of 5.54% from the stock’s previous close.

A number of other analysts have also weighed in on MUR. UBS Group raised their price objective on shares of Murphy Oil from $24.00 to $27.00 and gave the company a “neutral” rating in a research note on Tuesday, October 14th. Piper Sandler increased their price target on shares of Murphy Oil from $32.00 to $34.00 and gave the company an “overweight” rating in a report on Tuesday, October 21st. Roth Capital restated a “neutral” rating and issued a $25.00 price objective on shares of Murphy Oil in a report on Thursday. Wall Street Zen raised Murphy Oil from a “sell” rating to a “hold” rating in a research report on Saturday, October 25th. Finally, Morgan Stanley decreased their price target on Murphy Oil from $28.00 to $27.00 and set an “underweight” rating for the company in a research note on Tuesday, October 14th. One equities research analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $28.33.

Murphy Oil Stock Up 1.6%

MUR stock opened at $28.43 on Thursday. The business has a 50 day moving average of $27.71 and a 200 day moving average of $24.81. The firm has a market cap of $4.06 billion, a PE ratio of 14.73 and a beta of 0.99. Murphy Oil has a twelve month low of $18.94 and a twelve month high of $34.52. The company has a quick ratio of 0.77, a current ratio of 0.84 and a debt-to-equity ratio of 0.28.

Murphy Oil (NYSE:MUR) last released its earnings results on Monday, March 21st. The oil and gas producer reported ($0.09) EPS for the quarter. Murphy Oil had a return on equity of 5.25% and a net margin of 10.20%.The company had revenue of $440.08 million during the quarter. On average, research analysts forecast that Murphy Oil will post 2.94 EPS for the current fiscal year.

Institutional Trading of Murphy Oil

A number of hedge funds have recently bought and sold shares of MUR. Teacher Retirement System of Texas purchased a new position in Murphy Oil in the first quarter worth about $577,000. Principal Financial Group Inc. boosted its holdings in shares of Murphy Oil by 0.9% in the first quarter. Principal Financial Group Inc. now owns 317,879 shares of the oil and gas producer’s stock worth $9,028,000 after buying an additional 2,713 shares during the last quarter. World Investment Advisors grew its position in Murphy Oil by 170.3% during the first quarter. World Investment Advisors now owns 19,562 shares of the oil and gas producer’s stock valued at $556,000 after buying an additional 12,324 shares during the period. Penserra Capital Management LLC increased its holdings in 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 last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in Murphy Oil by 9.8% during the first quarter. Envestnet Asset Management Inc. now owns 338,114 shares of the oil and gas producer’s stock valued at $9,602,000 after buying an additional 30,176 shares during the last quarter. Hedge funds and other institutional investors own 78.31% of the company’s stock.

Murphy Oil Company Profile

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.