Murphy Oil Corporation (NYSE:MUR) Receives $37.25 Consensus Target Price from Brokerages

Shares of Murphy Oil Corporation (NYSE:MUR) have received an average rating of “Hold” from the sixteen research firms that are currently covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, ten have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $37.3333.

A number of equities research analysts have issued reports on MUR shares. Seaport Research Partners began coverage on Murphy Oil in a research note on Thursday, September 3rd. They set a “neutral” rating for the company. KeyCorp lowered their price objective on shares of Murphy Oil from $48.00 to $43.00 and set an “overweight” rating on the stock in a research note on Thursday, August 13th. Scotiabank reissued a “sector perform” rating and issued a $44.00 price objective on shares of Murphy Oil in a report on Wednesday, May 13th. Morgan Stanley restated an “underweight” rating and set a $36.00 target price on shares of Murphy Oil in a research report on Wednesday, August 19th. Finally, Wells Fargo & Company reduced their target price on shares of Murphy Oil from $45.00 to $41.00 and set an “equal weight” rating for the company in a report on Wednesday, September 2nd.

Hedge Funds Weigh In On Murphy Oil

Institutional investors and hedge funds have recently bought and sold shares of the stock. Leonteq Securities AG purchased a new position in shares of Murphy Oil during the 1st quarter valued at about $29,000. Valued Wealth Advisors LLC increased its holdings in 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 acquiring an additional 735 shares in the last quarter. CIBC Private Wealth Group LLC purchased a new stake in Murphy Oil in the 4th quarter worth approximately $26,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Murphy Oil during the 2nd quarter worth approximately $54,000. Finally, EverSource Wealth Advisors LLC raised its stake in 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 acquiring an additional 581 shares during the period. 78.31% of the stock is currently owned by hedge funds and other institutional investors.

Murphy Oil Price Performance

NYSE MUR opened at $37.52 on Friday. The business’s fifty day moving average price is $35.90 and its 200-day moving average price is $36.92. The stock has a market capitalization of $5.38 billion, a price-to-earnings ratio of 18.57 and a beta of 0.50. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.85 and a quick ratio of 0.80. Murphy Oil has a 1-year low of $24.80 and a 1-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 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.02). Murphy Oil had a return on equity of 6.63% and a net margin of 9.74%.The firm had revenue of $926.33 million during the quarter, compared to analysts’ expectations of $888.51 million. During the same quarter last year, the business earned $0.27 earnings per share. The business’s quarterly revenue was up 33.5% on a year-over-year basis. On average, equities analysts predict that Murphy Oil will post 2.77 earnings per share for the current year.

Murphy Oil Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 3.7%. The ex-dividend date was Monday, August 17th. Murphy Oil’s dividend payout ratio is 69.31%.

About Murphy Oil

Murphy Oil Corporation is an independent upstream oil and gas company engaged in the exploration, development and production of crude oil, natural gas and natural gas liquids. The company’s operations encompass conventional onshore and offshore reservoirs, with an emphasis on liquids-rich properties and deepwater assets. Through a combination of proprietary technologies and strategic joint ventures, Murphy Oil seeks to optimize recovery rates and manage its portfolio to balance long-term resource development with operational flexibility.

Murphy Oil’s exploration and production activities are geographically diversified.