Murphy Oil (NYSE:MUR) PT Lowered to $39.00 at Wells Fargo & Company

Murphy Oil (NYSE:MUR) had its price objective cut by Wells Fargo & Company from $41.00 to $39.00 in a research note published on Friday, Benzinga reports. They currently have an equal weight rating on the oil and gas producer’s stock.

Several other analysts have also commented on the company. Scotiabank lowered Murphy Oil from a strong-buy rating to a hold rating in a research note on Friday, August 9th. Morgan Stanley reduced their target price on shares of Murphy Oil from $43.00 to $39.00 and set an equal weight rating on the stock in a research note on Monday, September 16th. StockNews.com cut shares of Murphy Oil from a buy rating to a hold rating in a research report on Tuesday, June 18th. Truist Financial reduced their price target on shares of Murphy Oil from $59.00 to $55.00 and set a buy rating on the stock in a research report on Monday, July 22nd. Finally, Mizuho dropped their price objective on shares of Murphy Oil from $59.00 to $50.00 and set an outperform rating for the company in a report on Monday, September 16th. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Murphy Oil currently has an average rating of Hold and an average target price of $44.82.

Murphy Oil Stock Up 2.9 %

MUR opened at $33.73 on Friday. The company has a market capitalization of $5.15 billion, a P/E ratio of 9.40 and a beta of 2.21. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.82 and a quick ratio of 0.76. The firm’s fifty day moving average price is $36.89 and its two-hundred day moving average price is $41.01. Murphy Oil has a fifty-two week low of $32.53 and a fifty-two week high of $49.14.

Murphy Oil (NYSE:MUR) last posted its earnings results on Thursday, August 8th. The oil and gas producer reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.08. The business had revenue of $802.80 million for the quarter, compared to analysts’ expectations of $813.97 million. Murphy Oil had a net margin of 17.32% and a return on equity of 11.68%. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.79 earnings per share. On average, analysts anticipate that Murphy Oil will post 3.57 EPS for the current year.

Murphy Oil Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 19th were paid a $0.30 dividend. The ex-dividend date was Monday, August 19th. This represents a $1.20 annualized dividend and a dividend yield of 3.56%. Murphy Oil’s dividend payout ratio (DPR) is currently 33.43%.

Institutional Trading of Murphy Oil

Several institutional investors and hedge funds have recently added to or reduced their stakes in MUR. Mather Group LLC. grew its position in shares of Murphy Oil by 1,015.7% during the 2nd quarter. Mather Group LLC. now owns 569 shares of the oil and gas producer’s stock worth $26,000 after buying an additional 518 shares during the period. Rise Advisors LLC acquired a new stake in Murphy Oil during the 1st quarter worth $30,000. Lindbrook Capital LLC grew its holdings in Murphy Oil by 47.7% during the 1st quarter. Lindbrook Capital LLC now owns 721 shares of the oil and gas producer’s stock worth $33,000 after acquiring an additional 233 shares during the period. Headlands Technologies LLC raised its position in shares of Murphy Oil by 1,434.5% during the 2nd quarter. Headlands Technologies LLC now owns 1,289 shares of the oil and gas producer’s stock valued at $53,000 after acquiring an additional 1,205 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. lifted its stake in shares of Murphy Oil by 27.0% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 2,105 shares of the oil and gas producer’s stock valued at $96,000 after purchasing an additional 447 shares during the period. 78.31% of the stock is owned by institutional investors.

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.