Murphy Oil (NYSE:MUR) Price Target Raised to $52.00

Murphy Oil (NYSE:MUR - Get Free Report) had its price target lifted by analysts at JPMorgan Chase & Co. from $51.00 to $52.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has an "overweight" rating on the oil and gas producer's stock. JPMorgan Chase & Co.'s price objective suggests a potential upside of 7.39% from the stock's previous close.

A number of other research analysts have also issued reports on the stock. Mizuho restated a "buy" rating and set a $53.00 target price (up previously from $50.00) on shares of Murphy Oil in a research report on Thursday, March 21st. Piper Sandler cut their target price on Murphy Oil from $50.00 to $49.00 and set an "overweight" rating for the company in a research report on Tuesday, January 30th. UBS Group decreased their price target on Murphy Oil from $45.00 to $43.00 and set a "neutral" rating on the stock in a research report on Monday, January 29th. KeyCorp reduced their price objective on shares of Murphy Oil from $53.00 to $50.00 and set an "overweight" rating on the stock in a research note on Thursday, January 11th. Finally, Roth Mkm restated a "buy" rating on shares of Murphy Oil in a research report on Wednesday, March 20th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $47.36.

Murphy Oil Stock Performance

Shares of NYSE:MUR traded up $0.05 on Thursday, hitting $48.42. The company had a trading volume of 1,323,461 shares, compared to its average volume of 1,945,248. The stock has a market cap of $7.39 billion, a price-to-earnings ratio of 11.50 and a beta of 2.21. The stock has a 50 day moving average price of $41.07 and a 200 day moving average price of $42.41. Murphy Oil has a 1-year low of $32.80 and a 1-year high of $48.84. The company has a current ratio of 0.89, a quick ratio of 0.82 and a debt-to-equity ratio of 0.24.

Murphy Oil (NYSE:MUR - Get Free Report) last released its quarterly earnings results on Thursday, January 25th. The oil and gas producer reported $0.90 earnings per share for the quarter, missing the consensus estimate of $1.00 by ($0.10). The firm had revenue of $844.20 million for the quarter, compared to analyst estimates of $852.24 million. Murphy Oil had a return on equity of 13.02% and a net margin of 19.12%. The business's revenue for the quarter was down 13.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.10 earnings per share. Analysts expect that Murphy Oil will post 4.33 EPS for the current year.

Insiders Place Their Bets

In other news, VP Maria A. Martinez sold 10,000 shares of the business's stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $43.35, for a total value of $433,500.00. Following the transaction, the vice president now owns 40,590 shares in the company, valued at approximately $1,759,576.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Maria A. Martinez sold 10,000 shares of Murphy Oil stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $43.35, for a total transaction of $433,500.00. Following the completion of the transaction, the vice president now owns 40,590 shares of the company's stock, valued at $1,759,576.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Louis W. Utsch sold 30,260 shares of the company's stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $39.94, for a total transaction of $1,208,584.40. Following the sale, the vice president now directly owns 9,504 shares in the company, valued at approximately $379,589.76. The disclosure for this sale can be found here. In the last 90 days, insiders sold 156,260 shares of company stock worth $6,322,644. 5.92% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Murphy Oil

Large investors have recently added to or reduced their stakes in the business. Bruce G. Allen Investments LLC acquired a new position in Murphy Oil in the fourth quarter valued at approximately $29,000. Belpointe Asset Management LLC increased its stake in shares of Murphy Oil by 68.2% in the 1st quarter. Belpointe Asset Management LLC now owns 900 shares of the oil and gas producer's stock valued at $33,000 after acquiring an additional 365 shares in the last quarter. Financial Management Professionals Inc. lifted its position in shares of Murphy Oil by 7,940.0% during the 3rd quarter. Financial Management Professionals Inc. now owns 804 shares of the oil and gas producer's stock valued at $36,000 after acquiring an additional 794 shares during the period. Penserra Capital Management LLC bought a new position in Murphy Oil during the third quarter worth $40,000. Finally, Qube Research & Technologies Ltd acquired a new stake in Murphy Oil in the third quarter worth $47,000. Institutional investors and hedge funds 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.