The Goldman Sachs Group Raises Murphy Oil (NYSE:MUR) Price Target to $33.00

Key Points

• The Goldman Sachs Group raised its price target on Murphy Oil from $29 to $33 and kept a "neutral" rating, with the new target implying roughly a 2.76% downside from the prior close.
• Analyst sentiment is mixed-to-cautious—14 Holds and 2 Sells with an average price target of $30.17 and a MarketBeat consensus of "Reduce"—though several firms (UBS, Wells Fargo) have recently increased their targets.
• Murphy Oil shares rose about 4.1% to $33.94 after reporting a quarterly EPS beat of $0.14 (vs. -$0.07 est.), while revenue missed estimates and fell 6.9% year-over-year.

Murphy Oil (NYSE:MUR - Get Free Report) had its target price hoisted by research analysts at The Goldman Sachs Group from $29.00 to $33.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a "neutral" rating on the oil and gas producer's stock. The Goldman Sachs Group's price target indicates a potential downside of 2.76% from the company's previous close.

Other equities analysts have also recently issued research reports about the stock. Wells Fargo & Company lifted their target price on shares of Murphy Oil from $28.00 to $32.00 and gave the stock an "equal weight" rating in a research report on Tuesday, January 27th. Zacks Research raised Murphy Oil from a "strong sell" rating to a "hold" rating in a research note on Monday. Scotiabank reissued a "sector perform" rating and issued a $31.00 target price on shares of Murphy Oil in a research note on Friday, January 16th. Morgan Stanley reduced their price target on Murphy Oil from $27.00 to $25.00 and set an "underweight" rating on the stock in a research report on Friday, January 23rd. Finally, UBS Group boosted their price objective on Murphy Oil from $30.00 to $34.00 and gave the company a "neutral" rating in a research report on Thursday, March 5th. Fourteen equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Reduce" and an average price target of $30.17.

Murphy Oil Stock Up 4.1%

NYSE:MUR traded up $1.33 on Wednesday, hitting $33.94. The stock had a trading volume of 895,757 shares, compared to its average volume of 2,516,278. The company has a market cap of $4.85 billion, a PE ratio of 47.06 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 quick ratio of 0.71, a current ratio of 0.77 and a debt-to-equity ratio of 0.26. The business's fifty day moving average is $32.40 and its 200 day moving average is $30.20.

Murphy Oil (NYSE:MUR - Get Free Report) last issued its earnings results on Wednesday, January 28th. The oil and gas producer reported $0.14 EPS for the quarter, topping the consensus estimate of ($0.07) by $0.21. The business had revenue of $613.08 million during the quarter, compared to the consensus estimate of $650.90 million. Murphy Oil had a return on equity of 3.73% and a net margin of 3.83%.The firm's revenue was down 6.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.35 EPS. On average, equities research analysts expect that Murphy Oil will post 2.94 EPS for the current fiscal year.

Hedge Funds Weigh In On Murphy Oil

Institutional investors have recently bought and sold shares of the business. Parallel Advisors LLC grew its position in Murphy Oil by 3.7% in the fourth quarter. Parallel Advisors LLC now owns 11,091 shares of the oil and gas producer's stock worth $347,000 after acquiring an additional 400 shares during the period. Cetera Investment Advisers grew its stake in Murphy Oil by 0.9% in the 4th quarter. Cetera Investment Advisers now owns 45,662 shares of the oil and gas producer's stock valued at $1,427,000 after acquiring an additional 401 shares during the last quarter. Empowered Funds LLC increased its stake in shares of Murphy Oil by 0.9% during the 4th quarter. Empowered Funds LLC now owns 49,066 shares of the oil and gas producer's stock valued at $1,533,000 after acquiring an additional 418 shares during the last quarter. Impact Capital Partners LLC boosted its position in shares of Murphy Oil by 2.9% in the fourth quarter. Impact Capital Partners LLC now owns 15,143 shares of the oil and gas producer's stock worth $473,000 after acquiring an additional 420 shares during the last quarter. Finally, Park Avenue Securities LLC increased its position in Murphy Oil by 3.1% during the fourth quarter. Park Avenue Securities LLC now owns 13,893 shares of the oil and gas producer's stock worth $434,000 after purchasing an additional 423 shares during the last quarter. 78.31% of the stock is 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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