Murphy Oil (NYSE:MUR) PT Lowered to $43.00 at Piper Sandler

Murphy Oil (NYSE:MUR) had its price objective decreased by Piper Sandler from $44.00 to $43.00 in a research note published on Tuesday, Benzinga reports. Piper Sandler currently has an overweight rating on the oil and gas producer’s stock.

Several other brokerages have also recently commented on MUR. StockNews.com cut Murphy Oil from a “buy” rating to a “hold” rating in a report on Tuesday, June 18th. The Goldman Sachs Group decreased their price objective on shares of Murphy Oil from $44.00 to $39.00 and set a “neutral” rating for the company in a research report on Monday, October 7th. Truist Financial dropped their target price on shares of Murphy Oil from $55.00 to $42.00 and set a “buy” rating on the stock in a report on Monday, September 30th. JPMorgan Chase & Co. decreased their price target on Murphy Oil from $47.00 to $39.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. Finally, UBS Group lowered their price objective on Murphy Oil from $45.00 to $39.00 and set a “neutral” rating for the company in a research report on Wednesday, September 18th. Ten investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Murphy Oil presently has a consensus rating of “Hold” and a consensus price target of $41.17.

Murphy Oil Price Performance

MUR stock opened at $33.14 on Tuesday. The company has a market capitalization of $5.06 billion, a P/E ratio of 9.23 and a beta of 2.20. The company has a fifty day moving average price of $35.67 and a 200-day moving average price of $40.10. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.76 and a current ratio of 0.82. Murphy Oil has a 52-week low of $32.53 and a 52-week high of $49.14.

Murphy Oil (NYSE:MUR) last announced its earnings results on Thursday, August 8th. The oil and gas producer reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.08. Murphy Oil had a return on equity of 11.68% and a net margin of 17.32%. The business had revenue of $802.80 million during the quarter, compared to analyst estimates of $813.97 million. During the same period last year, the company earned $0.79 EPS. Murphy Oil’s revenue for the quarter was down 1.4% compared to the same quarter last year. As a group, equities analysts expect that Murphy Oil will post 3.47 EPS for the current year.

Murphy Oil Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date is Monday, November 18th. Murphy Oil’s payout ratio is 33.43%.

Institutional Trading of Murphy Oil

Several hedge funds have recently bought and sold shares of MUR. Compass Wealth Management LLC acquired a new position in Murphy Oil during the third quarter worth $42,000. nVerses Capital LLC acquired a new stake in shares of Murphy Oil in the 3rd quarter worth about $354,000. Creative Planning lifted its position in Murphy Oil by 11.2% in the 3rd quarter. Creative Planning now owns 41,014 shares of the oil and gas producer’s stock valued at $1,384,000 after acquiring an additional 4,122 shares in the last quarter. Wedge Capital Management L L P NC boosted its stake in Murphy Oil by 641.7% during the 3rd quarter. Wedge Capital Management L L P NC now owns 672,717 shares of the oil and gas producer’s stock valued at $22,697,000 after purchasing an additional 582,020 shares during the last quarter. Finally, Willis Investment Counsel increased its holdings in Murphy Oil by 1.0% during the 3rd quarter. Willis Investment Counsel now owns 245,099 shares of the oil and gas producer’s stock worth $8,270,000 after purchasing an additional 2,438 shares in the last quarter. Institutional investors and hedge funds own 78.31% of the company’s stock.

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.