Murphy Oil (NYSE:MUR) Trading Down 7.7% – Here’s What Happened

Murphy Oil Corporation (NYSE:MUR) shares dropped 7.7% during mid-day trading on Tuesday . The company traded as low as $31.07 and last traded at $31.3160. Approximately 779,902 shares were traded during mid-day trading, a decline of 67% from the average daily volume of 2,361,128 shares. The stock had previously closed at $33.92.

Wall Street Analyst Weigh In

Several analysts have weighed in on MUR shares. Wall Street Zen lowered shares of Murphy Oil from a “hold” rating to a “sell” rating in a research note on Saturday, January 10th. Piper Sandler reaffirmed a “neutral” rating and set a $34.00 price objective on shares of Murphy Oil in a research report on Tuesday, November 18th. Wells Fargo & Company lifted their target price on Murphy Oil from $26.00 to $28.00 and gave the company an “equal weight” rating in a research note on Friday, November 14th. Mizuho raised their price target on Murphy Oil from $33.00 to $35.00 and gave the stock a “neutral” rating in a report on Thursday, January 15th. Finally, Evercore ISI lowered their price objective on Murphy Oil from $23.00 to $22.00 and set an “in-line” rating for the company in a research note on Monday, October 6th. Thirteen analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $29.83.

Murphy Oil Trading Down 9.7%

The company has a current ratio of 0.94, a quick ratio of 0.87 and a debt-to-equity ratio of 0.27. The stock has a market cap of $4.37 billion, a price-to-earnings ratio of 31.31 and a beta of 0.78. The company has a fifty day simple moving average of $31.70 and a 200-day simple moving average of $28.17.

Murphy Oil (NYSE:MUR) last released its quarterly earnings results on Wednesday, November 5th. The oil and gas producer reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.25. Murphy Oil had a net margin of 5.16% and a return on equity of 4.30%. The business had revenue of $720.97 million for the quarter, compared to analyst estimates of $648.80 million. During the same quarter in the previous year, the business earned $0.74 earnings per share. The firm’s revenue was down 3.3% compared to the same quarter last year. On average, research analysts forecast that Murphy Oil Corporation will post 2.94 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Murphy Oil

A number of institutional investors have recently bought and sold shares of MUR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Murphy Oil by 1.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 84,061 shares of the oil and gas producer’s stock worth $2,387,000 after acquiring an additional 1,419 shares during the last quarter. United Services Automobile Association acquired a new position in Murphy Oil in the 1st quarter worth about $265,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Murphy Oil by 22.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 249,094 shares of the oil and gas producer’s stock worth $7,074,000 after purchasing an additional 45,841 shares in the last quarter. Strs Ohio purchased a new stake in shares of Murphy Oil during the 1st quarter worth about $233,000. Finally, Parallel Advisors LLC grew its stake in shares of Murphy Oil by 287.0% in the 2nd quarter. Parallel Advisors LLC now owns 11,134 shares of the oil and gas producer’s stock valued at $251,000 after buying an additional 8,257 shares in the last quarter. 78.31% of the stock is currently owned by institutional investors and hedge funds.

About Murphy Oil

Murphy Oil Corporation is an independent upstream oil and gas company engaged in the exploration, development and production of crude oil, natural gas and natural gas liquids. The company’s operations encompass conventional onshore and offshore reservoirs, with an emphasis on liquids-rich properties and deepwater assets. Through a combination of proprietary technologies and strategic joint ventures, Murphy Oil seeks to optimize recovery rates and manage its portfolio to balance long-term resource development with operational flexibility.

Murphy Oil’s exploration and production activities are geographically diversified.