Cowen and Company Reaffirms Hold Rating for Murphy Oil Corporation (MUR)
Murphy Oil Corporation (NYSE:MUR)‘s stock had its “hold” rating reaffirmed by equities research analysts at Cowen and Company in a research note issued on Sunday. They currently have a $30.00 price target on the oil and gas producer’s stock. Cowen and Company’s price objective points to a potential upside of 17.92% from the stock’s current price.
A number of other equities research analysts have also commented on the company. Piper Jaffray Companies set a $23.00 price target on Murphy Oil Corporation and gave the stock a “hold” rating in a research report on Friday, August 25th. ValuEngine lowered Murphy Oil Corporation from a “hold” rating to a “sell” rating in a research report on Friday, June 2nd. Barclays PLC lowered Murphy Oil Corporation from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $38.00 to $29.00 in a research report on Tuesday, July 11th. KLR Group initiated coverage on Murphy Oil Corporation in a research report on Wednesday, May 24th. They set a “buy” rating and a $41.00 price target on the stock. Finally, Zacks Investment Research upgraded Murphy Oil Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $30.82.
Shares of Murphy Oil Corporation (NYSE:MUR) opened at 25.44 on Friday. The firm’s 50-day moving average price is $24.59 and its 200 day moving average price is $25.81. Murphy Oil Corporation has a 52 week low of $22.21 and a 52 week high of $35.19. The company’s market cap is $4.39 billion.
Murphy Oil Corporation (NYSE:MUR) last released its quarterly earnings results on Wednesday, August 2nd. The oil and gas producer reported ($0.11) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.15) by $0.04. The business had revenue of $474.50 million for the quarter, compared to analyst estimates of $495.03 million. Murphy Oil Corporation had a negative return on equity of 1.76% and a negative net margin of 1.83%. During the same period in the prior year, the company earned ($0.36) EPS. On average, equities analysts predict that Murphy Oil Corporation will post ($0.29) EPS for the current fiscal year.
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In other Murphy Oil Corporation news, insider Kelli M. Hammock sold 4,000 shares of the stock in a transaction on Friday, August 11th. The stock was sold at an average price of $25.63, for a total value of $102,520.00. Following the transaction, the insider now directly owns 14,298 shares in the company, valued at approximately $366,457.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Allan J. Misner sold 3,795 shares of the stock in a transaction on Monday, August 7th. The shares were sold at an average price of $26.05, for a total value of $98,859.75. Following the completion of the transaction, the vice president now owns 100 shares in the company, valued at $2,605. The disclosure for this sale can be found here. 6.89% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in MUR. Janney Montgomery Scott LLC bought a new position in Murphy Oil Corporation in the 1st quarter valued at $318,000. Russell Investments Group Ltd. lifted its stake in shares of Murphy Oil Corporation by 133.3% in the 1st quarter. Russell Investments Group Ltd. now owns 197,604 shares of the oil and gas producer’s stock valued at $5,650,000 after purchasing an additional 112,895 shares during the period. Canada Pension Plan Investment Board lifted its stake in shares of Murphy Oil Corporation by 5.0% in the 1st quarter. Canada Pension Plan Investment Board now owns 22,910 shares of the oil and gas producer’s stock valued at $655,000 after purchasing an additional 1,089 shares during the period. DekaBank Deutsche Girozentrale lifted its stake in shares of Murphy Oil Corporation by 149.2% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 11,029 shares of the oil and gas producer’s stock valued at $326,000 after purchasing an additional 6,603 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of Murphy Oil Corporation by 43.4% in the 1st quarter. Bank of New York Mellon Corp now owns 2,741,204 shares of the oil and gas producer’s stock valued at $78,370,000 after purchasing an additional 830,151 shares during the period. Hedge funds and other institutional investors own 97.68% of the company’s stock.
Murphy Oil Corporation Company Profile
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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