Murphy Oil (NYSE:MUR) Price Target Cut to $35.00 by Analysts at Wells Fargo & Company

Murphy Oil (NYSE:MUR) had its price target dropped by Wells Fargo & Company from $39.00 to $35.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the oil and gas producer’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 13.53% from the stock’s previous close.

A number of other research firms have also recently weighed in on MUR. Morgan Stanley lowered their target price on shares of Murphy Oil from $43.00 to $39.00 and set an “equal weight” rating on the stock in a research note on Monday, September 16th. Barclays dropped their target price on Murphy Oil from $38.00 to $37.00 and set an “equal weight” rating for the company in a report on Monday, November 11th. Truist Financial lowered their price target on Murphy Oil from $55.00 to $42.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. UBS Group cut their price objective on Murphy Oil from $39.00 to $38.00 and set a “neutral” rating for the company in a report on Monday, November 18th. Finally, KeyCorp dropped their target price on shares of Murphy Oil from $54.00 to $50.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Ten equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Murphy Oil has an average rating of “Hold” and a consensus target price of $40.58.

Murphy Oil Stock Up 2.8 %

Shares of MUR traded up $0.85 during mid-day trading on Monday, hitting $30.83. 113,845 shares of the company’s stock were exchanged, compared to its average volume of 1,644,350. The company has a quick ratio of 0.65, a current ratio of 0.71 and a debt-to-equity ratio of 0.24. Murphy Oil has a twelve month low of $29.84 and a twelve month high of $49.14. The firm has a fifty day moving average of $33.06 and a two-hundred day moving average of $36.69. The stock has a market cap of $4.50 billion, a price-to-earnings ratio of 9.95 and a beta of 2.18.

Murphy Oil (NYSE:MUR) last released its quarterly earnings results on Thursday, November 7th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.02). The company had revenue of $758.33 million for the quarter, compared to the consensus estimate of $759.74 million. Murphy Oil had a return on equity of 9.22% and a net margin of 14.78%. The business’s revenue was down 21.0% compared to the same quarter last year. During the same quarter last year, the company posted $1.59 EPS. On average, sell-side analysts forecast that Murphy Oil will post 3.15 earnings per share for the current year.

Hedge Funds Weigh In On Murphy Oil

Hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted its position in Murphy Oil by 3.3% during the second quarter. Dimensional Fund Advisors LP now owns 8,254,125 shares of the oil and gas producer’s stock valued at $340,400,000 after purchasing an additional 262,256 shares during the last quarter. Geode Capital Management LLC grew its holdings in Murphy Oil by 1.3% during the third quarter. Geode Capital Management LLC now owns 3,548,711 shares of the oil and gas producer’s stock worth $119,755,000 after purchasing an additional 45,432 shares during the period. Hotchkis & Wiley Capital Management LLC raised its position in shares of Murphy Oil by 2.3% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 2,627,701 shares of the oil and gas producer’s stock valued at $88,659,000 after purchasing an additional 58,220 shares during the period. Bank of New York Mellon Corp grew its stake in Murphy Oil by 5.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,138,985 shares of the oil and gas producer’s stock valued at $88,212,000 after buying an additional 107,462 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in shares of Murphy Oil by 3,191.6% during the third quarter. International Assets Investment Management LLC now owns 1,627,268 shares of the oil and gas producer’s stock worth $54,904,000 after acquiring an additional 1,577,831 shares during the period. Institutional investors 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.