Murphy Oil (NYSE:MUR) Given New $34.00 Price Target at UBS Group

Murphy Oil (NYSE:MUR) had its price objective boosted by UBS Group from $30.00 to $34.00 in a report published on Thursday morning,Benzinga reports. The brokerage currently has a neutral rating on the oil and gas producer’s stock.

Several other equities research analysts have also recently issued reports on the company. Piper Sandler cut their target price on Murphy Oil from $34.00 to $32.00 and set a “neutral” rating for the company in a research note on Monday, February 2nd. Morgan Stanley decreased their target price on Murphy Oil from $27.00 to $25.00 and set an “underweight” rating for the company in a research note on Friday, January 23rd. Barclays cut their price target on Murphy Oil from $31.00 to $29.00 and set an “underweight” rating on the stock in a research report on Friday, January 30th. Scotiabank reaffirmed a “sector perform” rating and issued a $31.00 target price on shares of Murphy Oil in a report on Friday, January 16th. Finally, The Goldman Sachs Group raised their price objective on shares of Murphy Oil from $26.00 to $29.00 and gave the company a “neutral” rating in a research report on Wednesday, February 11th. Thirteen analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $29.83.

Murphy Oil Price Performance

Shares of MUR opened at $34.34 on Thursday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.77 and a quick ratio of 0.71. Murphy Oil has a 1-year low of $18.94 and a 1-year high of $36.08. The firm has a market capitalization of $4.90 billion, a PE ratio of 47.69 and a beta of 0.72. The company’s fifty day moving average price is $32.26 and its 200-day moving average price is $29.87.

Murphy Oil (NYSE:MUR) last issued its quarterly earnings data on Wednesday, January 28th. The oil and gas producer reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.21. The business had revenue of $613.08 million for the quarter, compared to analysts’ expectations of $650.90 million. Murphy Oil had a net margin of 3.83% and a return on equity of 3.73%. The business’s revenue was down 6.9% on a year-over-year basis. During the same quarter last year, the company earned $0.35 EPS. On average, equities research analysts predict that Murphy Oil will post 2.94 EPS for the current year.

Murphy Oil Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Tuesday, February 17th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date was Tuesday, February 17th. This is a positive change from Murphy Oil’s previous quarterly dividend of $0.33. Murphy Oil’s payout ratio is currently 194.44%.

Institutional Investors Weigh In On Murphy Oil

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. CIBC Private Wealth Group LLC bought a new stake in shares of Murphy Oil in the 4th quarter worth $26,000. Smartleaf Asset Management LLC grew its stake in Murphy Oil by 67.3% during 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 acquiring an additional 440 shares in the last quarter. Torren Management LLC acquired a new position in Murphy Oil in the 4th quarter valued at approximately $37,000. 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 acquiring an additional 717 shares during the last quarter. Finally, Allworth Financial LP increased its position in Murphy Oil by 39.7% in the 2nd quarter. Allworth Financial LP now owns 2,440 shares of the oil and gas producer’s stock worth $55,000 after purchasing an additional 693 shares during the last quarter. 78.31% of the stock is currently owned by institutional investors.

Murphy Oil Company Profile

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.