Scotiabank Downgrades Murphy Oil (NYSE:MUR) to Sector Perform

Murphy Oil (NYSE:MUR - Get Free Report) was downgraded by investment analysts at Scotiabank from a "sector outperform" rating to a "sector perform" rating in a note issued to investors on Thursday, Marketbeat.com reports. They presently have a $50.00 target price on the oil and gas producer's stock, up from their previous target price of $46.00. Scotiabank's price objective would suggest a potential upside of 4.80% from the company's current price.

A number of other brokerages have also weighed in on MUR. UBS Group lowered their target price on Murphy Oil from $45.00 to $43.00 and set a "neutral" rating on the stock in a research note on Monday, January 29th. JPMorgan Chase & Co. upped their price objective on shares of Murphy Oil from $51.00 to $52.00 and gave the stock an "overweight" rating in a research report on Thursday, April 4th. Piper Sandler decreased their target price on shares of Murphy Oil from $50.00 to $49.00 and set an "overweight" rating on the stock in a report on Tuesday, January 30th. Mizuho reaffirmed a "buy" rating and set a $53.00 price target (up previously from $50.00) on shares of Murphy Oil in a report on Thursday, March 21st. Finally, Truist Financial lifted their price objective on shares of Murphy Oil from $58.00 to $59.00 and gave the company a "buy" rating in a research note on Friday, April 5th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $48.23.

Murphy Oil Stock Down 0.8 %

MUR stock traded down $0.40 during mid-day trading on Thursday, hitting $47.71. 1,195,940 shares of the company were exchanged, compared to its average volume of 1,897,486. The firm has a market cap of $7.28 billion, a P/E ratio of 11.40 and a beta of 2.21. Murphy Oil has a 1-year low of $32.80 and a 1-year high of $49.14. The firm's 50 day simple moving average is $42.02 and its 200 day simple moving average is $42.55. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.82 and a current ratio of 0.89.

Murphy Oil (NYSE:MUR - Get Free Report) last issued its quarterly earnings results on Thursday, January 25th. The oil and gas producer reported $0.90 EPS for the quarter, missing the consensus estimate of $1.00 by ($0.10). Murphy Oil had a return on equity of 13.02% and a net margin of 19.12%. The business had revenue of $844.20 million for the quarter, compared to the consensus estimate of $852.24 million. During the same period last year, the firm earned $1.10 earnings per share. The company's quarterly revenue was down 13.4% compared to the same quarter last year. On average, sell-side analysts predict that Murphy Oil will post 4.69 EPS for the current fiscal year.

Insider Buying and Selling at Murphy Oil

In other Murphy Oil news, CEO Roger W. Jenkins sold 110,000 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $40.39, for a total value of $4,442,900.00. Following the completion of the transaction, the chief executive officer now owns 1,035,190 shares in the company, valued at $41,811,324.10. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, VP Paul D. Vaughan sold 6,000 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $39.61, for a total transaction of $237,660.00. Following the transaction, the vice president now owns 11,877 shares in the company, valued at $470,447.97. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Roger W. Jenkins sold 110,000 shares of Murphy Oil stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $40.39, for a total transaction of $4,442,900.00. Following the completion of the sale, the chief executive officer now directly owns 1,035,190 shares of the company's stock, valued at approximately $41,811,324.10. The disclosure for this sale can be found here. In the last three months, insiders have sold 156,260 shares of company stock valued at $6,322,644. 5.95% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Murphy Oil

A number of institutional investors and hedge funds have recently modified their holdings of the company. Rise Advisors LLC bought a new position in Murphy Oil in the first quarter valued at about $30,000. Bruce G. Allen Investments LLC purchased a new stake in shares of Murphy Oil during the 4th quarter valued at about $29,000. Financial Management Professionals Inc. lifted its stake in shares of Murphy Oil by 7,940.0% in the 3rd quarter. Financial Management Professionals Inc. now owns 804 shares of the oil and gas producer's stock worth $36,000 after purchasing an additional 794 shares during the period. Penserra Capital Management LLC purchased a new position in shares of Murphy Oil in the third quarter worth approximately $40,000. Finally, Belpointe Asset Management LLC grew its position in Murphy Oil by 68.2% during the first quarter. Belpointe Asset Management LLC now owns 900 shares of the oil and gas producer's stock valued at $33,000 after buying an additional 365 shares during the period. 78.31% of the stock is currently owned by hedge funds and other institutional investors.

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.