Murphy Oil (NYSE:MUR) Price Target Cut to $37.00 by Analysts at Barclays

Murphy Oil (NYSE:MUR) had its price objective decreased by Barclays from $38.00 to $37.00 in a research report sent to investors on Monday,Benzinga reports. Barclays currently has an equal weight rating on the oil and gas producer’s stock.

Several other equities analysts have also commented on the company. Scotiabank reduced their price objective on Murphy Oil from $47.00 to $36.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 10th. KeyCorp decreased their price target on shares of Murphy Oil from $54.00 to $50.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Mizuho decreased their target price on shares of Murphy Oil from $59.00 to $50.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Truist Financial reduced their price objective on Murphy Oil from $55.00 to $42.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Finally, Wolfe Research assumed coverage on Murphy Oil in a report on Thursday, July 18th. They set a “peer perform” rating for the company. Ten equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $41.08.

Murphy Oil Trading Up 2.7 %

Murphy Oil stock opened at $33.33 on Monday. The stock has a market cap of $4.86 billion, a P/E ratio of 10.75 and a beta of 2.21. Murphy Oil has a fifty-two week low of $30.99 and a fifty-two week high of $49.14. The firm’s fifty day moving average price is $33.78 and its 200-day moving average price is $38.09. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.65 and a current ratio of 0.71.

Murphy Oil (NYSE:MUR) last released its quarterly earnings results on Thursday, November 7th. The oil and gas producer reported $0.74 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.02). The company had revenue of $758.33 million during the quarter, compared to analysts’ expectations of $759.74 million. Murphy Oil had a return on equity of 9.22% and a net margin of 14.78%. Murphy Oil’s quarterly revenue was down 21.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.59 EPS. Equities research analysts forecast that Murphy Oil will post 3.33 earnings per share for the current fiscal year.

Murphy Oil Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.60%. The ex-dividend date is Monday, November 18th. Murphy Oil’s dividend payout ratio (DPR) is currently 38.71%.

Hedge Funds Weigh In On Murphy Oil

A number of institutional investors have recently bought and sold shares of MUR. Mather Group LLC. raised its position in shares of Murphy Oil by 1,015.7% in the 2nd quarter. Mather Group LLC. now owns 569 shares of the oil and gas producer’s stock worth $26,000 after acquiring an additional 518 shares in the last quarter. Covestor Ltd raised its holdings in Murphy Oil by 266.8% in the third quarter. Covestor Ltd now owns 741 shares of the oil and gas producer’s stock worth $25,000 after purchasing an additional 539 shares in the last quarter. Reston Wealth Management LLC purchased a new position in Murphy Oil during the third quarter valued at $27,000. Compass Wealth Management LLC bought a new stake in shares of Murphy Oil during the 3rd quarter valued at $42,000. Finally, Headlands Technologies LLC grew its position in shares of Murphy Oil by 1,434.5% in the 2nd quarter. Headlands Technologies LLC now owns 1,289 shares of the oil and gas producer’s stock worth $53,000 after buying an additional 1,205 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.