Barclays Trims Murphy Oil (NYSE:MUR) Target Price to $38.00

by · The Cerbat Gem

Murphy Oil (NYSE:MUR – Get Free Report) had its price target dropped by equities researchers at Barclays from $46.00 to $38.00 in a research note issued on Thursday, Benzinga reports. The firm currently has an “equal weight” rating on the oil and gas producer’s stock. Barclays‘s target price points to a potential upside of 5.41% from the company’s current price.

MUR has been the topic of a number of other reports. Piper Sandler lowered their target price on Murphy Oil from $54.00 to $44.00 and set an “overweight” rating on the stock in a research report on Thursday, August 15th. Morgan Stanley lowered their target price on Murphy Oil from $43.00 to $39.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. UBS Group lowered their target price on Murphy Oil from $45.00 to $39.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 18th. Wells Fargo & Company lowered their target price on Murphy Oil from $41.00 to $39.00 and set an “equal weight” rating on the stock in a research report on Friday, September 27th. Finally, Scotiabank lowered Murphy Oil from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 9th. Nine research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $42.67.

View Our Latest Analysis on MUR

Murphy Oil Price Performance

Murphy Oil stock opened at $36.05 on Thursday. 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 52-week low of $32.53 and a 52-week high of $49.14. The stock’s 50 day moving average price is $36.44 and its two-hundred day moving average price is $40.80. The stock has a market capitalization of $5.50 billion, a price-to-earnings ratio of 10.04 and a beta of 2.19.

Murphy Oil (NYSE:MUR – Get Free Report) last issued its earnings results on Thursday, August 8th. The oil and gas producer reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.08. Murphy Oil had a return on equity of 11.68% and a net margin of 17.32%. The company had revenue of $802.80 million for the quarter, compared to analyst estimates of $813.97 million. During the same period in the prior year, the firm earned $0.79 earnings per share. Murphy Oil’s revenue for the quarter was down 1.4% on a year-over-year basis. On average, equities analysts predict that Murphy Oil will post 3.57 earnings per share for the current year.

Institutional Investors Weigh In On Murphy Oil

Large investors have recently made changes to their positions in the business. Duality Advisers LP increased its position in shares of Murphy Oil by 364.6% during the 1st quarter. Duality Advisers LP now owns 113,451 shares of the oil and gas producer’s stock valued at $5,185,000 after purchasing an additional 89,032 shares during the last quarter. O Shaughnessy Asset Management LLC increased its position in shares of Murphy Oil by 138.8% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 29,702 shares of the oil and gas producer’s stock valued at $1,357,000 after purchasing an additional 17,265 shares during the last quarter. DRW Securities LLC grew its stake in shares of Murphy Oil by 280.0% during the 4th quarter. DRW Securities LLC now owns 72,200 shares of the oil and gas producer’s stock worth $3,080,000 after acquiring an additional 53,201 shares during the period. Invenomic Capital Management LP bought a new position in shares of Murphy Oil during the 4th quarter worth $16,349,000. Finally, QRG Capital Management Inc. grew its stake in shares of Murphy Oil by 4.0% during the 1st quarter. QRG Capital Management Inc. now owns 15,642 shares of the oil and gas producer’s stock worth $715,000 after acquiring an additional 599 shares during the period. 78.31% of the stock is owned by hedge funds and other institutional investors.

Murphy Oil Company Profile

(Get Free Report)

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.

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