Murphy Oil (NYSE:MUR) Stock Rating Upgraded by Zacks Research

Murphy Oil (NYSE:MUR) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

Several other equities analysts have also recently weighed in on the company. Scotiabank lifted their target price on Murphy Oil from $26.00 to $30.00 and gave the company a “sector perform” rating in a research note on Thursday, October 9th. Roth Capital restated a “neutral” rating and issued a $25.00 price objective on shares of Murphy Oil in a research note on Thursday, November 6th. Mizuho upped their price target on Murphy Oil from $29.00 to $30.00 and gave the stock a “neutral” rating in a report on Thursday, November 6th. Evercore ISI lowered their price target on Murphy Oil from $23.00 to $22.00 and set an “in-line” rating on the stock in a research note on Monday, October 6th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Murphy Oil in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $28.33.

Murphy Oil Price Performance

Shares of NYSE:MUR traded down $0.75 on Monday, reaching $29.03. 918,697 shares of the company traded hands, compared to its average volume of 2,705,160. The stock has a market capitalization of $4.14 billion, a PE ratio of 15.02 and a beta of 0.99. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.84 and a quick ratio of 0.77. The company’s 50 day moving average is $27.87 and its 200-day moving average is $24.98. Murphy Oil has a fifty-two week low of $18.94 and a fifty-two week high of $34.52.

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

Institutional Investors Weigh In On Murphy Oil

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC raised its position in shares of Murphy Oil by 67.3% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,094 shares of the oil and gas producer’s stock valued at $32,000 after acquiring an additional 440 shares during the period. Mustard Seed Financial LLC increased its position in shares of Murphy Oil by 2.9% in the 1st 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 in the last quarter. Strs Ohio raised its stake in Murphy Oil by 11.1% during the 3rd quarter. Strs Ohio now owns 5,000 shares of the oil and gas producer’s stock worth $142,000 after buying an additional 500 shares during the period. Arizona State Retirement System lifted its holdings in Murphy Oil by 1.4% during the third quarter. Arizona State Retirement System now owns 40,119 shares of the oil and gas producer’s stock worth $1,140,000 after acquiring an additional 551 shares in the last quarter. Finally, Franklin Resources Inc. grew its stake in Murphy Oil by 0.7% in the second quarter. Franklin Resources Inc. now owns 87,933 shares of the oil and gas producer’s stock valued at $1,978,000 after acquiring an additional 581 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.