Mizuho Issues Positive Forecast for Murphy Oil (NYSE:MUR) Stock Price

Key Points

• Mizuho raised Murphy Oil’s price target from $41 to $44 while maintaining a “neutral” rating, implying 12.52% potential upside from the stock’s $39.10 price.
• Analyst sentiment remains mixed: Murphy Oil has an average “Hold” rating and a consensus price target of $39.45, with four Buy, eight Hold, and three Sell ratings.
• Murphy Oil’s latest quarter showed revenue growth of 33.5% year over year to $926.33 million, though EPS of $1.55 slightly missed estimates; institutional investors own 78.31% of the company.

Murphy Oil (NYSE:MUR - Get Free Report) had its price target upped by stock analysts at Mizuho from $41.00 to $44.00 in a report issued on Wednesday, Benzinga reports. The firm presently has a "neutral" rating on the oil and gas producer's stock. Mizuho's price target indicates a potential upside of 12.52% from the stock's current price.

Other equities research analysts also recently issued research reports about the stock. Barclays downgraded shares of Murphy Oil from an "equal weight" rating to an "underweight" rating and dropped their price target for the stock from $38.00 to $34.00 in a research note on Friday, August 14th. Seaport Research Partners began coverage on shares of Murphy Oil in a research report on Thursday, September 3rd. They issued a "neutral" rating for the company. UBS Group raised their target price on Murphy Oil from $38.00 to $40.00 and gave the company a "neutral" rating in a research note on Wednesday. Morgan Stanley restated an "underweight" rating and set a $36.00 target price on shares of Murphy Oil in a research note on Wednesday, August 19th. Finally, KeyCorp lifted their target price on Murphy Oil from $43.00 to $47.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 15th. Four investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $39.45.

Murphy Oil Stock Up 0.2%

NYSE MUR traded up $0.07 on Wednesday, reaching $39.10. The company had a trading volume of 472,101 shares, compared to its average volume of 2,085,062. 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 $26.49 and a 1 year high of $43.34. The firm has a 50-day moving average of $36.81 and a 200-day moving average of $37.39. The firm has a market capitalization of $5.61 billion, a PE ratio of 19.32 and a beta of 0.59.

Murphy Oil (NYSE:MUR - Get Free Report) last posted its quarterly earnings data 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 net margin of 9.74% and a return on equity of 6.63%. The firm had revenue of $926.33 million for the quarter, compared to analysts' expectations of $888.51 million. During the same quarter in the prior year, the business earned $0.27 EPS. The company's revenue for the quarter was up 33.5% on a year-over-year basis. On average, equities research analysts anticipate that Murphy Oil will post 2.64 EPS for the current fiscal year.

Hedge Funds Weigh In On Murphy Oil

Large investors have recently bought and sold shares of the business. Jupiter Topco LLC acquired a new stake in Murphy Oil in the 2nd quarter valued at approximately $2,065,000. SailingStone Capital Partners LLC bought a new stake in Murphy Oil during the 2nd quarter valued at $15,852,000. Bank of America Corp DE bought a new stake in Murphy Oil during the 2nd quarter valued at $45,719,000. Legal & General Group Plc acquired a new position in Murphy Oil during the 2nd quarter worth $5,789,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in Murphy Oil during the 1st quarter worth $1,745,000. Institutional investors own 78.31% of the company's stock.

About Murphy Oil

Murphy Oil Corporation NYSE: MUR is an independent oil and natural gas exploration and production company. Its activities include identifying, acquiring, developing and producing crude oil, natural gas and natural gas liquids.

The company's current operations are concentrated in the United States and Canada. In the United States, Murphy Oil has assets in the Eagle Ford and Gulf Coast onshore regions, as well as interests in the Gulf of Mexico. In Canada, the company operates in Western Canadian plays, including the Tupper Montney area.

Murphy Oil was incorporated in 1950 and has historically pursued exploration and production opportunities in several international markets in addition to North America.

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