Mizuho Lowers Murphy Oil (NYSE:MUR) Price Target to $29.00

Key Points

• Mizuho lowered its price target for Murphy Oil from $31.00 to $29.00, maintaining a "neutral" rating, suggesting an upside potential of 11.57% from the current price.
• Analysts have mixed views on Murphy Oil, with one "Buy," eleven "Hold," and two "Sell" ratings, while the consensus rating is "Reduce" with an average target of $29.54.
• In its latest earnings report, Murphy Oil surpassed consensus estimates with an EPS of $0.27, though revenue fell by 13.4% year-over-year to $695.57 million.

Murphy Oil (NYSE:MUR - Free Report) had its price target trimmed by Mizuho from $31.00 to $29.00 in a research report sent to investors on Monday,Benzinga reports. The firm currently has a neutral rating on the oil and gas producer's stock.

Several other analysts have also commented on the company. Barclays increased their price objective on Murphy Oil from $22.00 to $23.00 and gave the company an "underweight" rating in a report on Monday, July 7th. Morgan Stanley decreased their price objective on Murphy Oil from $27.00 to $26.00 and set an "underweight" rating for the company in a report on Friday, May 23rd. Scotiabank reiterated a "sector perform" rating and set a $26.00 price objective (up previously from $22.00) on shares of Murphy Oil in a report on Friday, July 11th. Wells Fargo & Company set a $24.00 price objective on Murphy Oil and gave the company an "equal weight" rating in a report on Thursday, June 26th. Finally, Piper Sandler increased their price objective on Murphy Oil from $30.00 to $32.00 and gave the company an "overweight" rating in a report on Thursday, August 14th. One investment analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, Murphy Oil currently has a consensus rating of "Reduce" and an average target price of $29.54.

Murphy Oil Stock Down 1.9%

Murphy Oil stock traded down $0.51 during mid-day trading on Monday, reaching $26.52. 1,468,599 shares of the company were exchanged, compared to its average volume of 2,817,579. The business has a fifty day moving average of $24.76 and a 200 day moving average of $23.83. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.77 and a current ratio of 0.84. The firm has a market cap of $3.78 billion, a P/E ratio of 13.75 and a beta of 1.15. Murphy Oil has a 12-month low of $18.94 and a 12-month high of $36.63.

Murphy Oil (NYSE:MUR - Get Free Report) last posted its earnings results on Wednesday, August 6th. The oil and gas producer reported $0.27 earnings per share for the quarter, topping analysts' consensus estimates of $0.21 by $0.06. The company had revenue of $695.57 million during the quarter, compared to analyst estimates of $632.51 million. Murphy Oil had a return on equity of 5.25% and a net margin of 10.20%.Murphy Oil's revenue was down 13.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.81 earnings per share. Research analysts anticipate that Murphy Oil will post 2.94 earnings per share for the current fiscal year.

Murphy Oil Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were paid a $0.325 dividend. The ex-dividend date was Monday, August 18th. This represents a $1.30 dividend on an annualized basis and a yield of 4.9%. Murphy Oil's dividend payout ratio (DPR) is 67.36%.

Institutional Investors Weigh In On Murphy Oil

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Fifth Third Bancorp grew its position in Murphy Oil by 2.8% during the 1st quarter. Fifth Third Bancorp now owns 18,060 shares of the oil and gas producer's stock worth $513,000 after purchasing an additional 499 shares during the period. Mustard Seed Financial LLC grew its position in Murphy Oil by 2.9% during the 1st quarter. Mustard Seed Financial LLC now owns 17,861 shares of the oil and gas producer's stock worth $507,000 after purchasing an additional 500 shares during the period. Penserra Capital Management LLC grew its position in Murphy Oil by 3.2% during the 1st quarter. Penserra Capital Management LLC now owns 17,367 shares of the oil and gas producer's stock worth $493,000 after purchasing an additional 532 shares during the period. Franklin Resources Inc. grew its position in Murphy Oil by 0.7% during the 2nd quarter. Franklin Resources Inc. now owns 87,933 shares of the oil and gas producer's stock worth $1,978,000 after purchasing an additional 581 shares during the period. Finally, MAI Capital Management grew its position in Murphy Oil by 11.9% during the 2nd quarter. MAI Capital Management now owns 5,723 shares of the oil and gas producer's stock worth $129,000 after purchasing an additional 608 shares during the period. 78.31% of the stock is owned by institutional investors and hedge funds.

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.