Piper Sandler Forecasts Strong Price Appreciation for Murphy Oil (NYSE:MUR) Stock

Key Points

• Piper Sandler raised its price target on Murphy Oil from $32 to $33 and kept a "neutral" rating, with that target implying about a 5.69% downside from the current share price.
• The analyst consensus is a "Reduce" with an average target of $29.83 (13 Hold ratings and 3 Sell ratings), indicating tepid sentiment versus current trading levels.
• Murphy traded near $34.99 after reporting an EPS beat ($0.14 vs. -$0.07) despite revenue declines; the company has a ~$5.0B market cap and a 52-week range of $18.94–$36.08.

Murphy Oil (NYSE:MUR - Get Free Report) had its price target boosted by investment analysts at Piper Sandler from $32.00 to $33.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a "neutral" rating on the oil and gas producer's stock. Piper Sandler's price objective points to a potential downside of 5.69% from the stock's current price.

Several other equities research analysts have also issued reports on MUR. Barclays decreased their price target on shares of Murphy Oil from $31.00 to $29.00 and set an "underweight" rating on the stock in a report on Friday, January 30th. UBS Group upped their target price on Murphy Oil from $30.00 to $34.00 and gave the stock a "neutral" rating in a research report on Thursday. Weiss Ratings restated a "hold (c)" rating on shares of Murphy Oil in a research note on Monday, December 29th. Wells Fargo & Company boosted their target price on Murphy Oil from $28.00 to $32.00 and gave the stock an "equal weight" rating in a research note on Tuesday, January 27th. Finally, BMO Capital Markets reissued a "market perform" rating on shares of Murphy Oil in a research report on Tuesday, February 3rd. Thirteen equities research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Reduce" and a consensus target price of $29.83.

Murphy Oil Price Performance

NYSE MUR traded up $0.94 on Thursday, hitting $34.99. 1,093,592 shares of the company's stock were exchanged, compared to its average volume of 2,494,874. The stock has a 50-day moving average of $32.21 and a 200-day moving average of $29.84. The stock has a market cap of $5.00 billion, a price-to-earnings ratio of 48.60 and a beta of 0.72. Murphy Oil has a 52 week low of $18.94 and a 52 week high of $36.08. The company has a current ratio of 0.77, a quick ratio of 0.71 and a debt-to-equity ratio of 0.26.

Murphy Oil (NYSE:MUR - Get Free Report) last issued its quarterly earnings results on Wednesday, January 28th. The oil and gas producer reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.21. Murphy Oil had a return on equity of 3.73% and a net margin of 3.83%.The company had revenue of $613.08 million for the quarter, compared to analyst estimates of $650.90 million. During the same quarter last year, the company posted $0.35 EPS. The company's revenue for the quarter was down 6.9% compared to the same quarter last year. Analysts expect that Murphy Oil will post 2.94 earnings per share for the current year.

Institutional Trading of Murphy Oil

Several institutional investors and hedge funds have recently bought and sold shares of MUR. CIBC Private Wealth Group LLC purchased a new stake in shares of Murphy Oil during the fourth quarter worth approximately $26,000. Smartleaf Asset Management LLC boosted its position in shares of Murphy Oil by 67.3% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,094 shares of the oil and gas producer's stock worth $32,000 after buying an additional 440 shares in the last quarter. Torren Management LLC purchased a new position in Murphy Oil during the 4th quarter valued at about $37,000. Farther Finance Advisors LLC lifted its holdings in shares of Murphy Oil by 72.9% in the fourth quarter. Farther Finance Advisors LLC now owns 1,701 shares of the oil and gas producer's stock valued at $53,000 after purchasing an additional 717 shares in the last quarter. Finally, Allworth Financial LP increased its stake in shares of Murphy Oil by 39.7% during the 2nd quarter. Allworth Financial LP now owns 2,440 shares of the oil and gas producer's stock worth $55,000 after purchasing an additional 693 shares in the last quarter. 78.31% of the stock is currently owned by hedge funds and other institutional investors.

About Murphy Oil

Murphy Oil Corporation is an independent upstream oil and gas company engaged in the exploration, development and production of crude oil, natural gas and natural gas liquids. The company's operations encompass conventional onshore and offshore reservoirs, with an emphasis on liquids-rich properties and deepwater assets. Through a combination of proprietary technologies and strategic joint ventures, Murphy Oil seeks to optimize recovery rates and manage its portfolio to balance long-term resource development with operational flexibility.

Murphy Oil's exploration and production activities are geographically diversified.

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