Brokerages Set Murphy Oil Corporation (NYSE:MUR) Price Target at $28.25

Murphy Oil Corporation (NYSE:MUR) has been given an average rating of “Reduce” by the fifteen ratings firms that are covering the firm, Marketbeat reports. Three analysts have rated the stock with a sell recommendation, eleven have assigned a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $28.0833.

A number of research analysts have issued reports on MUR shares. UBS Group lifted their target price on Murphy Oil from $24.00 to $27.00 and gave the company a “neutral” rating in a research report on Tuesday. Scotiabank boosted their price target on Murphy Oil from $26.00 to $30.00 and gave the stock a “sector perform” rating in a report on Thursday, October 9th. Piper Sandler upped their target price on Murphy Oil from $30.00 to $32.00 and gave the company an “overweight” rating in a report on Thursday, August 14th. Weiss Ratings reissued a “hold (c-)” rating on shares of Murphy Oil in a research note on Wednesday, October 8th. Finally, Zacks Research lowered Murphy Oil from a “hold” rating to a “strong sell” rating in a research note on Monday, September 15th.

Hedge Funds Weigh In On Murphy Oil

A number of institutional investors have recently modified their holdings of MUR. GAMMA Investing LLC raised its position in shares of Murphy Oil by 146.5% during the first quarter. GAMMA Investing LLC now owns 3,106 shares of the oil and gas producer’s stock worth $88,000 after purchasing an additional 1,846 shares during the period. SG Americas Securities LLC bought a new stake in Murphy Oil during the first quarter worth $672,000. Fifth Third Bancorp grew its holdings in Murphy Oil by 2.8% during the first quarter. Fifth Third Bancorp now owns 18,060 shares of the oil and gas producer’s stock worth $513,000 after buying an additional 499 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Murphy Oil by 54.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 12,151 shares of the oil and gas producer’s stock worth $345,000 after buying an additional 4,270 shares in the last quarter. Finally, QRG Capital Management Inc. grew its holdings in Murphy Oil by 12.4% during the first quarter. QRG Capital Management Inc. now owns 13,569 shares of the oil and gas producer’s stock worth $385,000 after buying an additional 1,493 shares in the last quarter. 78.31% of the stock is owned by institutional investors and hedge funds.

Murphy Oil Trading Up 2.4%

Shares of Murphy Oil stock opened at $27.88 on Thursday. The business has a fifty day simple moving average of $26.35 and a two-hundred day simple moving average of $24.12. Murphy Oil has a 1 year low of $18.94 and a 1 year high of $34.52. The company has a market capitalization of $3.98 billion, a price-to-earnings ratio of 14.45 and a beta of 1.03. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.84 and a quick ratio of 0.77.

Murphy Oil (NYSE:MUR) last announced its quarterly earnings results on Monday, March 21st. The oil and gas producer reported ($0.09) earnings per share (EPS) for the quarter. Murphy Oil had a net margin of 10.20% and a return on equity of 5.25%. The business had revenue of $440.08 million for the quarter. Research analysts forecast that Murphy Oil will post 2.94 EPS for the current year.

Murphy Oil Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 17th will be given a dividend of $0.325 per share. This represents a $1.30 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend is Monday, November 17th. Murphy Oil’s dividend payout ratio is presently 67.36%.

Murphy Oil Company Profile

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.