Murphy Oil (NYSE:MUR) was upgraded by investment analysts at Scotiabank from a "sector perform" rating to a "sector outperform" rating in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a $20.00 target price on the oil and gas producer's stock, up from their previous target price of $16.00. Scotiabank's target price indicates a potential upside of 27.71% from the stock's current price.
Several other brokerages also recently issued reports on MUR. Morgan Stanley raised their price objective on shares of Murphy Oil from $14.00 to $20.00 and gave the stock an "equal weight" rating in a research report on Wednesday, March 17th. Truist Securities raised their price objective on shares of Murphy Oil from $17.00 to $21.00 in a research report on Monday. Mizuho lowered their target price on shares of Murphy Oil from $22.00 to $21.00 and set a "neutral" rating on the stock in a report on Tuesday. Credit Suisse Group lowered their target price on shares of Murphy Oil from $16.00 to $15.00 and set a "neutral" rating on the stock in a report on Friday, January 29th. Finally, Truist lifted their target price on shares of Murphy Oil from $17.00 to $21.00 in a report on Monday. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company's stock. The company has a consensus rating of "Hold" and an average target price of $15.77.
NYSE MUR opened at $15.66 on Wednesday. Murphy Oil has a 12 month low of $7.00 and a 12 month high of $20.53. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.20 and a quick ratio of 1.09. The company has a market capitalization of $2.41 billion, a price-to-earnings ratio of -2.30 and a beta of 3.33. The firm's fifty day moving average price is $17.70 and its 200 day moving average price is $13.13.
Murphy Oil (NYSE:MUR) last issued its quarterly earnings data on Wednesday, January 27th. The oil and gas producer reported ($0.09) earnings per share (EPS) for the quarter, missing the Thomson Reuters' consensus estimate of ($0.07) by ($0.02). Murphy Oil had a negative return on equity of 3.06% and a negative net margin of 46.10%. The business had revenue of $440.10 million for the quarter, compared to analysts' expectations of $477.63 million. During the same period in the previous year, the business posted $0.16 earnings per share. The company's revenue for the quarter was down 41.9% on a year-over-year basis. As a group, sell-side analysts forecast that Murphy Oil will post -1.23 earnings per share for the current year.
In other Murphy Oil news, Director Walentin Mirosh sold 2,500 shares of Murphy Oil stock in a transaction dated Thursday, February 4th. The shares were sold at an average price of $13.01, for a total transaction of $32,525.00. Following the completion of the transaction, the director now owns 22,690 shares in the company, valued at $295,196.90. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robert Madison Murphy sold 75,000 shares of Murphy Oil stock in a transaction dated Monday, March 15th. The stock was sold at an average price of $20.10, for a total transaction of $1,507,500.00. In the last 90 days, insiders have sold 138,017 shares of company stock valued at $2,519,858. 6.59% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Pzena Investment Management LLC grew its holdings in shares of Murphy Oil by 14.5% during the fourth quarter. Pzena Investment Management LLC now owns 3,217,549 shares of the oil and gas producer's stock worth $38,932,000 after buying an additional 407,605 shares in the last quarter. Foundry Partners LLC purchased a new stake in shares of Murphy Oil during the fourth quarter worth about $3,857,000. First Trust Advisors LP grew its holdings in shares of Murphy Oil by 40.6% during the fourth quarter. First Trust Advisors LP now owns 937,159 shares of the oil and gas producer's stock worth $11,340,000 after buying an additional 270,817 shares in the last quarter. Gemsstock Limited purchased a new stake in shares of Murphy Oil during the fourth quarter worth about $3,182,000. Finally, Engineers Gate Manager LP grew its holdings in Murphy Oil by 557.6% in the fourth quarter. Engineers Gate Manager LP now owns 308,404 shares of the oil and gas producer's stock valued at $3,732,000 after purchasing an additional 261,508 shares during the period. Institutional investors own 78.55% of the company's stock.
Murphy Oil Company Profile
Murphy Oil Corporation operates as an oil and natural 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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