Murphy Oil (NYSE:MUR) PT Lowered to $39.00 at UBS Group

Murphy Oil (NYSE:MUR) had its target price lowered by investment analysts at UBS Group from $45.00 to $39.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the oil and gas producer’s stock. UBS Group’s price objective indicates a potential upside of 10.20% from the company’s previous close.

Other equities analysts also recently issued reports about the stock. Piper Sandler reduced their target price on shares of Murphy Oil from $54.00 to $44.00 and set an “overweight” rating on the stock in a research note on Thursday, August 15th. JPMorgan Chase & Co. reduced their price target on shares of Murphy Oil from $47.00 to $39.00 and set a “neutral” rating on the stock in a research report on Thursday, September 12th. Wells Fargo & Company decreased their price objective on Murphy Oil from $47.00 to $41.00 and set an “equal weight” rating on the stock in a report on Friday, August 23rd. Barclays cut their target price on Murphy Oil from $54.00 to $46.00 and set an “equal weight” rating for the company in a research note on Monday, August 12th. Finally, Mizuho reduced their price objective on shares of Murphy Oil from $59.00 to $50.00 and set an “outperform” rating on the stock in a report on Monday. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $45.00.

Murphy Oil Price Performance

Shares of NYSE MUR traded up $0.03 during trading on Wednesday, hitting $35.39. The company had a trading volume of 348,830 shares, compared to its average volume of 1,659,941. Murphy Oil has a fifty-two week low of $33.15 and a fifty-two week high of $49.14. The stock has a fifty day simple moving average of $37.96 and a two-hundred day simple moving average of $41.35. The company has a quick ratio of 0.76, a current ratio of 0.82 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $5.40 billion, a price-to-earnings ratio of 9.86 and a beta of 2.21.

Murphy Oil (NYSE:MUR) last released its quarterly earnings data on Thursday, August 8th. The oil and gas producer reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.08. Murphy Oil had a return on equity of 11.68% and a net margin of 17.32%. The company had revenue of $802.80 million for the quarter, compared to analyst estimates of $813.97 million. During the same quarter in the previous year, the company posted $0.79 earnings per share. The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. On average, research analysts expect that Murphy Oil will post 3.99 earnings per share for the current year.

Hedge Funds Weigh In On Murphy Oil

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Private Advisor Group LLC acquired a new stake in Murphy Oil in the fourth quarter valued at approximately $304,000. Quadrant Capital Group LLC raised its holdings in shares of Murphy Oil by 18.6% in the 4th quarter. Quadrant Capital Group LLC now owns 3,938 shares of the oil and gas producer’s stock valued at $168,000 after purchasing an additional 618 shares in the last quarter. Corient Private Wealth LLC lifted its position in shares of Murphy Oil by 5.0% during the 4th quarter. Corient Private Wealth LLC now owns 48,261 shares of the oil and gas producer’s stock worth $2,059,000 after purchasing an additional 2,277 shares during the last quarter. United Services Automobile Association grew its stake in shares of Murphy Oil by 10.1% during the fourth quarter. United Services Automobile Association now owns 12,455 shares of the oil and gas producer’s stock worth $531,000 after purchasing an additional 1,146 shares in the last quarter. Finally, Innealta Capital LLC acquired a new position in shares of Murphy Oil during the fourth quarter worth $298,000. Hedge funds and other 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.