Murphy Oil (NYSE:MUR) Price Target Raised to $32.00

Murphy Oil (NYSE:MURFree Report) had its target price raised by Wells Fargo & Company from $28.00 to $32.00 in a research note issued to investors on Tuesday, MarketBeat.com reports. Wells Fargo & Company currently has an equal weight rating on the oil and gas producer’s stock.

Several other equities research analysts have also issued reports on the stock. Wall Street Zen lowered shares of Murphy Oil from a “hold” rating to a “sell” rating in a research report on Saturday, January 10th. UBS Group upped their price target on shares of Murphy Oil from $27.00 to $31.00 and gave the stock a “neutral” rating in a research report on Friday, December 12th. Morgan Stanley cut their price objective on Murphy Oil from $27.00 to $25.00 and set an “underweight” rating on the stock in a research report on Friday, January 23rd. Evercore ISI reduced their price objective on Murphy Oil from $23.00 to $22.00 and set an “in-line” rating on the stock in a research note on Monday, October 6th. Finally, Scotiabank reiterated a “sector perform” rating and issued a $31.00 target price on shares of Murphy Oil in a research note on Friday, January 16th. Thirteen research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, Murphy Oil currently has a consensus rating of “Reduce” and an average target price of $29.85.

Read Our Latest Analysis on MUR

Murphy Oil Stock Performance

Murphy Oil stock opened at $31.08 on Tuesday. The stock’s 50-day moving average is $31.91 and its 200-day moving average is $28.46. The company has a market cap of $4.44 billion, a price-to-earnings ratio of 43.16 and a beta of 0.78. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.94 and a quick ratio of 0.87. Murphy Oil has a 12 month low of $18.94 and a 12 month high of $35.19.

Murphy Oil (NYSE:MURGet Free Report) last issued its earnings results on Wednesday, January 28th. The oil and gas producer reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.21. Murphy Oil had a return on equity of 3.72% and a net margin of 3.83%.The business had revenue of $613.08 million during the quarter, compared to analysts’ expectations of $650.90 million. During the same quarter in the previous year, the business earned $0.35 EPS. The company’s revenue for the quarter was down 6.9% on a year-over-year basis. Equities analysts anticipate that Murphy Oil will post 2.94 earnings per share for the current year.

Murphy Oil Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Tuesday, February 17th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 4.5%. This is a positive change from Murphy Oil’s previous quarterly dividend of $0.33. The ex-dividend date is Tuesday, February 17th. Murphy Oil’s payout ratio is presently 180.56%.

Institutional Investors Weigh In On Murphy Oil

A number of hedge funds have recently bought and sold shares of MUR. Smartleaf Asset Management LLC raised its position in shares of Murphy Oil by 67.3% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,094 shares of the oil and gas producer’s stock valued at $32,000 after purchasing an additional 440 shares in the last quarter. Farther Finance Advisors LLC increased its stake in shares of Murphy Oil by 72.9% in the fourth quarter. Farther Finance Advisors LLC now owns 1,701 shares of the oil and gas producer’s stock worth $53,000 after buying an additional 717 shares during the last quarter. Allworth Financial LP increased its stake in shares of Murphy Oil by 39.7% in the second quarter. Allworth Financial LP now owns 2,440 shares of the oil and gas producer’s stock worth $55,000 after buying an additional 693 shares during the last quarter. Hantz Financial Services Inc. raised its holdings in Murphy Oil by 494.0% in the second quarter. Hantz Financial Services Inc. now owns 2,786 shares of the oil and gas producer’s stock valued at $63,000 after acquiring an additional 2,317 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in Murphy Oil by 437.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,802 shares of the oil and gas producer’s stock valued at $86,000 after acquiring an additional 3,095 shares during the last quarter. Institutional investors and hedge funds own 78.31% of the company’s stock.

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Murphy Oil Company Profile

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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.

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