Scotiabank Reiterates $27.00 Price Target for Murphy Oil Corporation (MUR)
Murphy Oil Corporation (NYSE:MUR) has been assigned a $27.00 price objective by analysts at Scotiabank in a research report issued to clients and investors on Friday. The firm presently has a “hold” rating on the oil and gas producer’s stock. Scotiabank’s price target indicates a potential upside of 5.63% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the company. Zacks Investment Research upgraded Murphy Oil Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Royal Bank Of Canada set a $32.00 target price on Murphy Oil Corporation and gave the stock a “hold” rating in a research note on Saturday, June 3rd. Piper Jaffray Companies reiterated a “hold” rating and set a $31.00 target price on shares of Murphy Oil Corporation in a research note on Thursday. ValuEngine cut Murphy Oil Corporation from a “hold” rating to a “sell” rating in a research note on Friday, June 2nd. Finally, KLR Group assumed coverage on Murphy Oil Corporation in a research note on Wednesday, May 24th. They set a “buy” rating and a $41.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $31.55.
Shares of Murphy Oil Corporation (MUR) traded down 0.43% during trading on Friday, hitting $25.56. 2,701,970 shares of the stock traded hands. Murphy Oil Corporation has a 1-year low of $23.61 and a 1-year high of $35.19. The stock’s market cap is $4.41 billion. The stock has a 50 day moving average price of $25.48 and a 200-day moving average price of $26.68.
Murphy Oil Corporation (NYSE:MUR) last posted its quarterly earnings data on Wednesday, August 2nd. The oil and gas producer reported ($0.11) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.15) by $0.04. The firm had revenue of $474.50 million for the quarter, compared to the consensus estimate of $495.03 million. Murphy Oil Corporation had a negative net margin of 1.83% and a negative return on equity of 1.76%. During the same period in the previous year, the firm earned ($0.36) EPS. Equities analysts forecast that Murphy Oil Corporation will post ($0.19) EPS for the current year.
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In other Murphy Oil Corporation news, VP Allan J. Misner sold 3,795 shares of Murphy Oil Corporation stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $26.05, for a total transaction of $98,859.75. Following the completion of the transaction, the vice president now owns 100 shares of the company’s stock, valued at approximately $2,605. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 6.89% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Korea Investment CORP bought a new position in Murphy Oil Corporation during the first quarter worth $1,447,000. Mn Services Vermogensbeheer B.V. raised its position in shares of Murphy Oil Corporation by 4.4% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 4,245 shares of the oil and gas producer’s stock valued at $113,000 after buying an additional 178 shares during the last quarter. Nationwide Fund Advisors raised its position in shares of Murphy Oil Corporation by 10.6% in the first quarter. Nationwide Fund Advisors now owns 529,710 shares of the oil and gas producer’s stock valued at $15,144,000 after buying an additional 50,886 shares during the last quarter. Candriam Luxembourg S.C.A. raised its position in shares of Murphy Oil Corporation by 1,727.1% in the first quarter. Candriam Luxembourg S.C.A. now owns 205,733 shares of the oil and gas producer’s stock valued at $5,882,000 after buying an additional 194,473 shares during the last quarter. Finally, Retirement Systems of Alabama raised its position in shares of Murphy Oil Corporation by 0.7% in the first quarter. Retirement Systems of Alabama now owns 225,039 shares of the oil and gas producer’s stock valued at $6,434,000 after buying an additional 1,615 shares during the last quarter. 96.16% of the stock is owned by institutional investors and hedge funds.
About Murphy Oil Corporation
Murphy Oil Corporation (Murphy) 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. Its exploration and production activities are subdivided into four geographic segments: the United States, Canada, Malaysia and all other countries.
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