KeyCorp Cuts Murphy Oil (NYSE:MUR) Price Target to $50.00

Murphy Oil (NYSE:MUR) had its price objective cut by KeyCorp from $54.00 to $50.00 in a research note issued to investors on Wednesday, Benzinga reports. They currently have an overweight rating on the oil and gas producer’s stock.

A number of other equities research analysts have also recently commented on MUR. UBS Group decreased their price target on Murphy Oil from $45.00 to $39.00 and set a “neutral” rating for the company in a research note on Wednesday, September 18th. BMO Capital Markets decreased their price objective on shares of Murphy Oil from $42.00 to $40.00 and set a “market perform” rating for the company in a research report on Friday, October 4th. Piper Sandler dropped their target price on shares of Murphy Oil from $44.00 to $43.00 and set an “overweight” rating on the stock in a research report on Tuesday. The Goldman Sachs Group decreased their price target on shares of Murphy Oil from $44.00 to $39.00 and set a “neutral” rating for the company in a report on Monday, October 7th. Finally, Barclays dropped their price objective on shares of Murphy Oil from $46.00 to $38.00 and set an “equal weight” rating on the stock in a report on Thursday, October 3rd. Ten analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $41.17.

Murphy Oil Stock Down 0.3 %

NYSE:MUR opened at $33.04 on Wednesday. The company’s 50-day simple moving average is $35.60 and its 200-day simple moving average is $40.01. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.76 and a current ratio of 0.82. Murphy Oil has a fifty-two week low of $32.53 and a fifty-two week high of $49.14. The stock has a market capitalization of $5.04 billion, a P/E ratio of 9.20 and a beta of 2.20.

Murphy Oil (NYSE:MUR) last announced its earnings results on Thursday, August 8th. The oil and gas producer reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.08. Murphy Oil had a net margin of 17.32% and a return on equity of 11.68%. The company had revenue of $802.80 million during the quarter, compared to the consensus estimate of $813.97 million. During the same period last year, the firm earned $0.79 earnings per share. Murphy Oil’s revenue was down 1.4% compared to the same quarter last year. On average, equities analysts anticipate that Murphy Oil will post 3.47 earnings per share for the current fiscal year.

Murphy Oil Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be issued a $0.30 dividend. The ex-dividend date is Monday, November 18th. This represents a $1.20 annualized dividend and a dividend yield of 3.63%. Murphy Oil’s dividend payout ratio (DPR) is presently 33.43%.

Hedge Funds Weigh In On Murphy Oil

Several institutional investors have recently made changes to their positions in MUR. Mather Group LLC. grew its position in Murphy Oil by 1,015.7% during the second quarter. Mather Group LLC. now owns 569 shares of the oil and gas producer’s stock valued at $26,000 after buying an additional 518 shares during the period. Rise Advisors LLC acquired a new stake in shares of Murphy Oil during the 1st quarter valued at about $30,000. Compass Wealth Management LLC purchased a new position in shares of Murphy Oil in the 3rd quarter valued at about $42,000. Bruce G. Allen Investments LLC raised its holdings in Murphy Oil by 106.5% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 1,470 shares of the oil and gas producer’s stock worth $50,000 after purchasing an additional 758 shares during the period. Finally, Headlands Technologies LLC grew its holdings in Murphy Oil by 1,434.5% in the second quarter. Headlands Technologies LLC now owns 1,289 shares of the oil and gas producer’s stock valued at $53,000 after purchasing an additional 1,205 shares during the period. 78.31% of the stock is owned by hedge funds and other 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.