Murphy Oil (NYSE:MUR) Upgraded at Wells Fargo & Company

Key Points

• Wells Fargo upgraded Murphy Oil to “hold”, while other analysts have issued mixed actions. The stock’s consensus rating remains “Hold,” with an average price target of $37.25.
• Murphy Oil shares opened at $37.70, with a market capitalization of $5.41 billion and a 52-week range of $24.49 to $43.34.
• The company’s latest quarterly results showed revenue rising 33.5% year over year to $926.33 million, though EPS of $1.55 slightly missed estimates. Institutional investors own approximately 78.31% of the stock.

Murphy Oil (NYSE:MUR - Get Free Report) was upgraded by analysts at Wells Fargo & Company to a "hold" rating in a research note issued to investors on Wednesday, Zacks reports.

Several other research firms also recently issued reports on MUR. KeyCorp cut their target price on Murphy Oil from $48.00 to $43.00 and set an "overweight" rating on the stock in a research report on Thursday, August 13th. Wall Street Zen downgraded Murphy Oil from a "buy" rating to a "hold" rating in a research note on Saturday, June 27th. UBS Group cut their price objective on Murphy Oil from $41.00 to $38.00 and set a "neutral" rating on the stock in a report on Friday, August 7th. Mizuho upgraded Murphy Oil to a "hold" rating in a research note on Friday, July 31st. Finally, Roth Capital reaffirmed a "neutral" rating and set a $36.00 target price on shares of Murphy Oil in a report on Thursday, May 7th. Three research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $37.25.

Murphy Oil Stock Performance

Shares of Murphy Oil stock opened at $37.70 on Wednesday. The company has a 50 day moving average price of $35.68 and a 200 day moving average price of $36.81. The firm has a market capitalization of $5.41 billion, a P/E ratio of 18.66 and a beta of 0.50. The company has a quick ratio of 0.80, a current ratio of 0.85 and a debt-to-equity ratio of 0.29. Murphy Oil has a 52 week low of $24.49 and a 52 week high of $43.34.

Murphy Oil (NYSE:MUR - Get Free Report) last issued its quarterly earnings results 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). The company had revenue of $926.33 million for the quarter, compared to analyst estimates of $888.51 million. Murphy Oil had a net margin of 9.74% and a return on equity of 6.63%. The company's revenue for the quarter was up 33.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.27 EPS. Sell-side analysts expect that Murphy Oil will post 2.77 EPS for the current year.

Hedge Funds Weigh In On Murphy Oil

Several institutional investors and hedge funds have recently modified their holdings of MUR. BlackRock Inc. acquired a new stake in Murphy Oil during the second quarter worth about $626,514,000. Dimensional Fund Advisors LP lifted its holdings in Murphy Oil by 3.0% in the first quarter. Dimensional Fund Advisors LP now owns 8,171,385 shares of the oil and gas producer's stock valued at $337,081,000 after acquiring an additional 238,326 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Murphy Oil by 2.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,572,610 shares of the oil and gas producer's stock valued at $174,144,000 after acquiring an additional 143,125 shares during the period. California State Teachers Retirement System boosted its position in Murphy Oil by 3,119.7% in the 2nd quarter. California State Teachers Retirement System now owns 5,130,609 shares of the oil and gas producer's stock worth $157,574,000 after purchasing an additional 4,971,260 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in Murphy Oil by 105.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,310,884 shares of the oil and gas producer's stock worth $136,574,000 after purchasing an additional 1,700,498 shares in the last quarter. Institutional investors and hedge funds own 78.31% of the company's stock.

About Murphy Oil

Murphy Oil Corporation is an independent upstream oil and gas company engaged in the exploration, development and production of crude oil, natural gas and natural gas liquids. The company's operations encompass conventional onshore and offshore reservoirs, with an emphasis on liquids-rich properties and deepwater assets. Through a combination of proprietary technologies and strategic joint ventures, Murphy Oil seeks to optimize recovery rates and manage its portfolio to balance long-term resource development with operational flexibility.

Murphy Oil's exploration and production activities are geographically diversified.

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