Murphy Oil (NYSE:MUR) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Murphy Oil (NYSE:MUR) had its price objective increased by stock analysts at Wells Fargo & Company from $32.00 to $38.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the oil and gas producer’s stock. Wells Fargo & Company‘s target price would indicate a potential downside of 8.82% from the company’s current price.

A number of other equities research analysts also recently issued reports on the stock. Mizuho upped their price objective on shares of Murphy Oil from $35.00 to $39.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 17th. The Goldman Sachs Group lifted their target price on shares of Murphy Oil from $29.00 to $33.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 11th. Morgan Stanley cut their target price on Murphy Oil from $27.00 to $25.00 and set an “underweight” rating on the stock in a research note on Friday, January 23rd. 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, Zacks Research raised Murphy Oil from a “strong sell” rating to a “hold” rating in a research report on Monday, March 9th. Two investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $32.36.

Murphy Oil Stock Up 4.3%

NYSE:MUR traded up $1.71 during trading hours on Thursday, hitting $41.68. 435,267 shares of the company traded hands, compared to its average volume of 2,783,914. The company has a quick ratio of 0.71, a current ratio of 0.77 and a debt-to-equity ratio of 0.26. The company has a market cap of $5.95 billion, a PE ratio of 57.92 and a beta of 0.72. The firm’s 50-day simple moving average is $33.56 and its 200-day simple moving average is $31.12. Murphy Oil has a one year low of $18.94 and a one year high of $41.65.

Murphy Oil (NYSE:MUR) last posted its earnings results on Wednesday, January 28th. The oil and gas producer reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.21. The firm had revenue of $613.08 million during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.35 EPS. Equities analysts predict that Murphy Oil will post 2.94 earnings per share for the current year.

Insider Activity at Murphy Oil

In related news, SVP Daniel R. Hanchera sold 47,320 shares of the company’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $33.79, for a total transaction of $1,598,942.80. Following the sale, the senior vice president directly owned 36,166 shares in the company, valued at approximately $1,222,049.14. This represents a 56.68% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 6.52% of the company’s stock.

Institutional Investors Weigh In On Murphy Oil

Several institutional investors have recently made changes to their positions in the stock. CIBC Private Wealth Group LLC bought a new stake in shares of Murphy Oil during the 4th quarter valued at $26,000. Smartleaf Asset Management LLC grew its stake in Murphy Oil by 67.3% during the third 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 bought a new stake in Murphy Oil during the 4th quarter worth approximately $37,000. Farther Finance Advisors LLC increased its holdings in Murphy Oil by 72.9% during the 4th 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 period. Finally, EverSource Wealth Advisors LLC lifted its stake in Murphy Oil by 437.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,802 shares of the oil and gas producer’s stock worth $86,000 after purchasing an additional 3,095 shares in the last quarter. Hedge funds and other institutional investors own 78.31% of the company’s stock.

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.