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

Key Points

• Mizuho raised its price target on Murphy Oil from $35 to $39 while maintaining a "neutral" rating, implying about a 4.9% upside from the prior close.
• Shares rose roughly 3.8% to $37.19 after the update; Murphy beat EPS estimates ($0.14 vs. -$0.07) but missed revenue expectations, and the consensus analyst view remains a "Hold" with an average target of $31.82.
• SVP Daniel Hanchera sold 47,320 shares (~$1.6M); insiders hold 6.52% of the stock while institutional investors own about 78.31%, with several funds recently increasing positions.

Murphy Oil (NYSE:MUR - Get Free Report) had its price objective hoisted by Mizuho from $35.00 to $39.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a "neutral" rating on the oil and gas producer's stock. Mizuho's target price would indicate a potential upside of 4.88% from the stock's previous close.

A number of other research firms have also recently commented on MUR. KeyCorp reiterated a "sector weight" rating on shares of Murphy Oil in a report on Thursday, January 29th. Wall Street Zen upgraded shares of Murphy Oil from a "sell" rating to a "hold" rating in a report on Sunday, March 8th. Wells Fargo & Company raised their target price on shares of Murphy Oil from $28.00 to $32.00 and gave the stock an "equal weight" rating in a research note on Tuesday, January 27th. UBS Group lifted their target price on shares of Murphy Oil from $30.00 to $34.00 and gave the stock a "neutral" rating in a report on Thursday, March 5th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Murphy Oil in a research note on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $31.82.

Murphy Oil Stock Up 3.8%

Shares of Murphy Oil stock traded up $1.35 on Tuesday, reaching $37.19. 930,731 shares of the company were exchanged, compared to its average volume of 2,636,015. The company has a market capitalization of $5.31 billion, a price-to-earnings ratio of 51.67 and a beta of 0.72. The company has a current ratio of 0.77, a quick ratio of 0.71 and a debt-to-equity ratio of 0.26. Murphy Oil has a one year low of $18.94 and a one year high of $37.33. The company has a 50-day moving average of $32.71 and a 200 day moving average of $30.51.

Murphy Oil (NYSE:MUR - Get Free Report) last issued its earnings results on Wednesday, January 28th. The oil and gas producer reported $0.14 earnings per share for the quarter, topping analysts' consensus estimates of ($0.07) by $0.21. Murphy Oil had a net margin of 3.83% and a return on equity of 3.73%. The business had revenue of $613.08 million for the quarter, compared to the consensus estimate of $650.90 million. During the same period in the previous year, the company earned $0.35 earnings per share. The firm's revenue for the quarter was down 6.9% on a year-over-year basis. On average, equities research analysts forecast that Murphy Oil will post 2.94 earnings per share for the current year.

Insider Buying and Selling at Murphy Oil

In other Murphy Oil news, SVP Daniel R. Hanchera sold 47,320 shares of the firm's stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $33.79, for a total transaction of $1,598,942.80. Following the transaction, the senior vice president owned 36,166 shares in the company, valued at $1,222,049.14. This trade represents a 56.68% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 6.52% of the company's stock.

Institutional Investors Weigh In On Murphy Oil

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Allianz Asset Management GmbH lifted its holdings in Murphy Oil by 255.3% during the 3rd quarter. Allianz Asset Management GmbH now owns 508,012 shares of the oil and gas producer's stock worth $14,433,000 after buying an additional 365,011 shares during the period. Vaughan Nelson Investment Management L.P. increased its stake in shares of Murphy Oil by 60.0% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 2,119,622 shares of the oil and gas producer's stock valued at $60,218,000 after buying an additional 794,510 shares during the period. American Century Companies Inc. raised its position in shares of Murphy Oil by 21.8% during the third quarter. American Century Companies Inc. now owns 3,736,815 shares of the oil and gas producer's stock worth $106,163,000 after acquiring an additional 668,525 shares during the last quarter. SummerHaven Investment Management LLC bought a new position in shares of Murphy Oil during the third quarter worth about $920,000. Finally, Concurrent Investment Advisors LLC lifted its stake in shares of Murphy Oil by 512.1% in the third quarter. Concurrent Investment Advisors LLC now owns 69,948 shares of the oil and gas producer's stock worth $1,987,000 after acquiring an additional 58,521 shares during the period. 78.31% of the stock is owned by institutional investors.

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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