Murphy Oil Corp. (MUR) Upgraded by Zacks Investment Research to Buy
Zacks Investment Research upgraded shares of Murphy Oil Corp. (NYSE:MUR) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning. Zacks Investment Research currently has $33.00 price objective on the stock.
According to Zacks, “Murphy Oil’s systematic investments in exploration and production activities will act as a tailwind. Steady production from its assets is enabling the company to maintain its 2016 production levels despite a substantial reduction in capital expenditure for the year. The company’s entry into the Eagle Ford shale has been successful. Moreover, it is good to see that efficient cost management and systematic asset divestment have allowed the company to lower its expenses. Stringent regulations and a highly competitive industry are headwinds for the company. Operational risks and foreign currency translation issues also pose headwinds.”
Other equities research analysts also recently issued research reports about the company. JPMorgan Chase & Co. reaffirmed a hold rating on shares of Murphy Oil Corp. in a research report on Thursday, June 30th. Raymond James Financial Inc. raised Murphy Oil Corp. from an underperform rating to a market perform rating in a research report on Monday, June 20th. Barclays PLC reaffirmed an overweight rating and issued a $42.00 target price on shares of Murphy Oil Corp. in a research report on Tuesday, August 2nd. Finally, Credit Agricole SA reaffirmed a sell rating on shares of Murphy Oil Corp. in a research report on Tuesday, August 16th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $26.80.
Shares of Murphy Oil Corp. (NYSE:MUR) traded down 1.22% during midday trading on Wednesday, hitting $28.37. The stock had a trading volume of 717,791 shares. The stock has a 50 day moving average of $28.01 and a 200-day moving average of $29.27. Murphy Oil Corp. has a one year low of $14.30 and a one year high of $37.48. The company’s market cap is $4.89 billion.
Murphy Oil Corp. (NYSE:MUR) last posted its quarterly earnings results on Wednesday, July 27th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.39) by $0.03. Murphy Oil Corp. had a negative return on equity of 7.93% and a negative net margin of 106.14%. During the same quarter in the prior year, the firm earned ($0.48) earnings per share. Analysts forecast that Murphy Oil Corp. will post ($1.32) EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Monday, November 14th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.48%. The ex-dividend date of this dividend is Wednesday, November 9th. Murphy Oil Corp.’s dividend payout ratio is presently -7.24%.
In related news, Director Robert Madison Murphy acquired 36,803 shares of Murphy Oil Corp. stock in a transaction dated Tuesday, August 9th. The stock was acquired at an average cost of $24.16 per share, with a total value of $889,160.48. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 6.39% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in Murphy Oil Corp. by 0.3% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 31,272 shares of the company’s stock valued at $993,000 after buying an additional 89 shares in the last quarter. Capstone Asset Management Co. raised its stake in Murphy Oil Corp. by 0.9% in the third quarter. Capstone Asset Management Co. now owns 10,049 shares of the company’s stock valued at $305,000 after buying an additional 90 shares in the last quarter. Advantus Capital Management Inc raised its stake in Murphy Oil Corp. by 0.8% in the second quarter. Advantus Capital Management Inc now owns 15,632 shares of the company’s stock valued at $496,000 after buying an additional 121 shares in the last quarter. Gateway Investment Advisers LLC raised its stake in Murphy Oil Corp. by 0.9% in the second quarter. Gateway Investment Advisers LLC now owns 16,575 shares of the company’s stock valued at $526,000 after buying an additional 151 shares in the last quarter. Finally, Norinchukin Bank The raised its stake in Murphy Oil Corp. by 2.3% in the second quarter. Norinchukin Bank The now owns 8,490 shares of the company’s stock valued at $270,000 after buying an additional 190 shares in the last quarter. 92.61% of the stock is owned by institutional investors and hedge funds.
Murphy Oil Corp. Company Profile
Murphy Oil Corporation is an oil and gas exploration and production company. The Company’s exploration and production business explores for and produces crude oil, natural gas and natural gas liquids across the world. The Company’s exploration and production activities are subdivided into four geographic segments, including the United States, Canada, Malaysia and all other countries.
Receive News & Stock Ratings for Murphy Oil Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Murphy Oil Corp. and related stocks with our FREE daily email newsletter.