Murphy Oil (NYSE:MUR) Price Target Raised to $35.00 at Piper Sandler

Murphy Oil (NYSE:MUR - Get Free Report) had its price objective lifted by equities researchers at Piper Sandler from $34.00 to $35.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an "overweight" rating on the oil and gas producer's stock. Piper Sandler's price target indicates a potential upside of 66.03% from the company's previous close.

Other research analysts have also issued reports about the stock. Barclays reduced their target price on shares of Murphy Oil from $34.00 to $32.00 and set an "equal weight" rating on the stock in a report on Tuesday, March 18th. KeyCorp restated a "sector weight" rating on shares of Murphy Oil in a report on Monday, April 21st. Scotiabank dropped their target price on Murphy Oil from $36.00 to $22.00 and set a "sector perform" rating for the company in a research note on Friday, April 11th. JPMorgan Chase & Co. decreased their price target on Murphy Oil from $33.00 to $28.00 and set a "neutral" rating on the stock in a research note on Thursday, March 13th. Finally, Roth Capital set a $37.00 price objective on shares of Murphy Oil in a report on Thursday, January 23rd. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $32.23.

Murphy Oil Stock Performance

MUR traded up $0.25 during trading on Tuesday, hitting $21.08. The stock had a trading volume of 1,937,997 shares, compared to its average volume of 2,087,346. The firm has a market capitalization of $3.01 billion, a P/E ratio of 7.84 and a beta of 1.68. Murphy Oil has a twelve month low of $18.95 and a twelve month high of $46.91. The company's 50-day moving average price is $24.66 and its 200 day moving average price is $28.82. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.77 and a current ratio of 0.83.

Murphy Oil (NYSE:MUR - Get Free Report) last posted its earnings results on Thursday, January 30th. The oil and gas producer reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.27). Murphy Oil had a net margin of 13.44% and a return on equity of 7.66%. During the same period last year, the business posted $0.90 earnings per share. On average, equities research analysts forecast that Murphy Oil will post 2.94 EPS for the current fiscal year.

Insider Activity at Murphy Oil

In related news, Director Claiborne P. Deming purchased 50,000 shares of the company's stock in a transaction dated Tuesday, February 4th. The shares were acquired at an average cost of $26.47 per share, for a total transaction of $1,323,500.00. Following the transaction, the director now owns 931,651 shares of the company's stock, valued at $24,660,801.97. This trade represents a 5.67 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Meenambigai Palanivelu bought 1,573 shares of the company's stock in a transaction on Wednesday, February 5th. The stock was bought at an average cost of $26.70 per share, for a total transaction of $41,999.10. Following the completion of the transaction, the vice president now directly owns 37,065 shares of the company's stock, valued at $989,635.50. This trade represents a 4.43 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 6.52% of the stock is owned by corporate insiders.

Institutional Trading of Murphy Oil

Several hedge funds have recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. lifted its stake in shares of Murphy Oil by 1.8% in the 4th quarter. Harbor Capital Advisors Inc. now owns 25,069 shares of the oil and gas producer's stock worth $759,000 after acquiring an additional 450 shares during the period. Headlands Technologies LLC raised its position in Murphy Oil by 32.9% in the fourth quarter. Headlands Technologies LLC now owns 1,903 shares of the oil and gas producer's stock worth $58,000 after acquiring an additional 471 shares in the last quarter. Fifth Third Bancorp lifted its holdings in Murphy Oil by 2.8% in the 1st quarter. Fifth Third Bancorp now owns 18,060 shares of the oil and gas producer's stock valued at $513,000 after acquiring an additional 499 shares during the last quarter. Lindbrook Capital LLC grew its stake in shares of 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 during the last quarter. Finally, Jones Financial Companies Lllp raised its holdings in shares of Murphy Oil by 32.9% in the 4th quarter. Jones Financial Companies Lllp now owns 2,284 shares of the oil and gas producer's stock worth $69,000 after purchasing an additional 565 shares in the last quarter. Institutional investors own 78.31% of the company's stock.

About Murphy Oil

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.