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

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 - Get Free Report) had its target price decreased by Mizuho from $31.00 to $29.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a "neutral" rating on the oil and gas producer's stock. Mizuho's target price indicates a potential upside of 11.57% from the company's current price.

MUR has been the topic of several other reports. Scotiabank reaffirmed a "sector perform" rating and issued a $26.00 price objective (up from $22.00) on shares of Murphy Oil in a research report on Friday, July 11th. Johnson Rice cut shares of Murphy Oil from an "accumulate" rating to a "hold" rating in a research report on Wednesday, May 21st. Morgan Stanley cut their price target on shares of Murphy Oil from $27.00 to $26.00 and set an "underweight" rating on the stock in a research report on Friday, May 23rd. UBS Group boosted their price target on shares of Murphy Oil from $23.00 to $24.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 13th. Finally, Piper Sandler boosted their price target on shares of Murphy Oil from $30.00 to $32.00 and gave the stock an "overweight" rating in a research report on Thursday, August 14th. One analyst has rated the stock with a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Murphy Oil has a consensus rating of "Reduce" and an average price target of $29.54.

Murphy Oil Trading Up 0.7%

Shares of NYSE MUR traded up $0.18 during midday trading on Monday, hitting $25.99. The stock had a trading volume of 366,743 shares, compared to its average volume of 2,820,401. The company's 50-day simple moving average is $24.63 and its 200 day simple moving average is $23.76. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.84 and a quick ratio of 0.77. Murphy Oil has a fifty-two week low of $18.94 and a fifty-two week high of $36.63. The firm has a market cap of $3.71 billion, a P/E ratio of 13.47 and a beta of 1.15.

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

Institutional Investors Weigh In On Murphy Oil

A number of large investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets grew its holdings in shares of Murphy Oil by 44.4% during the fourth quarter. BNP Paribas Financial Markets now owns 54,483 shares of the oil and gas producer's stock valued at $1,649,000 after buying an additional 16,752 shares during the last quarter. Captrust Financial Advisors grew its holdings in shares of Murphy Oil by 4.5% during the fourth quarter. Captrust Financial Advisors now owns 18,838 shares of the oil and gas producer's stock valued at $570,000 after buying an additional 805 shares during the last quarter. Deutsche Bank AG grew its holdings in shares of Murphy Oil by 2.2% during the fourth quarter. Deutsche Bank AG now owns 195,954 shares of the oil and gas producer's stock valued at $5,930,000 after buying an additional 4,264 shares during the last quarter. Lazard Asset Management LLC grew its holdings in shares of Murphy Oil by 17.3% during the fourth quarter. Lazard Asset Management LLC now owns 29,911 shares of the oil and gas producer's stock valued at $904,000 after buying an additional 4,415 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Murphy Oil by 3.1% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 82,642 shares of the oil and gas producer's stock valued at $2,501,000 after buying an additional 2,518 shares during the last quarter. 78.31% of the stock is currently 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.

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