Murphy Oil (NYSE:MUR) Rating Lowered to Hold at Johnson Rice

Murphy Oil (NYSE:MUR - Get Free Report) was downgraded by equities research analysts at Johnson Rice from an "accumulate" rating to a "hold" rating in a research note issued to investors on Wednesday, Marketbeat Ratings reports.

Several other research firms have also weighed in on MUR. JPMorgan Chase & Co. reduced their price target on shares of Murphy Oil from $33.00 to $28.00 and set a "neutral" rating for the company in a research report on Thursday, March 13th. UBS Group dropped their target price on shares of Murphy Oil from $28.00 to $23.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. Piper Sandler decreased their price target on shares of Murphy Oil from $35.00 to $30.00 and set an "overweight" rating for the company in a research note on Tuesday, May 13th. Scotiabank dropped their price objective on Murphy Oil from $36.00 to $22.00 and set a "sector perform" rating on the stock in a research note on Friday, April 11th. Finally, Barclays reduced their price objective on Murphy Oil from $24.00 to $22.00 and set an "underweight" rating for the company in a report on Friday, May 9th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $29.23.

Murphy Oil Stock Down 0.5%

Shares of MUR traded down $0.10 during trading hours on Wednesday, reaching $20.90. The stock had a trading volume of 1,493,329 shares, compared to its average volume of 2,210,999. The firm has a 50-day simple moving average of $22.86 and a 200 day simple moving average of $27.22. Murphy Oil has a 12 month low of $18.95 and a 12 month high of $43.02. The company has a current ratio of 0.83, a quick ratio of 0.77 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $2.98 billion, a price-to-earnings ratio of 7.77 and a beta of 1.10.

Murphy Oil (NYSE:MUR - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The oil and gas producer reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.08. The business had revenue of $665.71 million for the quarter, compared to analysts' expectations of $684.89 million. Murphy Oil had a net margin of 13.44% and a return on equity of 7.66%. The firm's revenue for the quarter was down 15.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.85 earnings per share. Equities research analysts predict that Murphy Oil will post 2.94 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Murphy Oil

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Huntington National Bank grew its position in Murphy Oil by 342.8% in the fourth quarter. Huntington National Bank now owns 828 shares of the oil and gas producer's stock worth $25,000 after acquiring an additional 641 shares in the last quarter. Riverview Trust Co bought a new position in Murphy Oil during the 1st quarter valued at approximately $26,000. Brooklyn Investment Group lifted its stake in Murphy Oil by 3,989.7% in the first quarter. Brooklyn Investment Group now owns 1,186 shares of the oil and gas producer's stock worth $34,000 after acquiring an additional 1,157 shares during the period. GeoWealth Management LLC bought a new position in Murphy Oil in the 4th quarter worth $39,000. Finally, Lindbrook Capital LLC raised its holdings in Murphy Oil by 60.5% in the 4th quarter. Lindbrook Capital LLC now owns 1,441 shares of the oil and gas producer's stock worth $44,000 after purchasing an additional 543 shares in the last quarter. Hedge funds and other institutional investors own 78.31% of the company's stock.

Murphy Oil Company Profile

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.