Murphy Oil (NYSE:MUR) Given New $50.00 Price Target at Mizuho

Murphy Oil (NYSE:MUR) had its price objective trimmed by Mizuho from $59.00 to $50.00 in a research note published on Monday, Benzinga reports. The brokerage currently has an outperform rating on the oil and gas producer’s stock.

Several other research firms have also recently weighed in on MUR. JPMorgan Chase & Co. reduced their price objective on Murphy Oil from $47.00 to $39.00 and set a neutral rating for the company in a research report on Thursday, September 12th. Scotiabank downgraded shares of Murphy Oil from a strong-buy rating to a hold rating in a report on Friday, August 9th. StockNews.com downgraded shares of Murphy Oil from a buy rating to a hold rating in a report on Tuesday, June 18th. Piper Sandler reduced their target price on shares of Murphy Oil from $54.00 to $44.00 and set an overweight rating for the company in a research note on Thursday, August 15th. Finally, UBS Group lowered their price target on Murphy Oil from $49.00 to $45.00 and set a neutral rating on the stock in a research note on Tuesday, August 13th. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Hold and an average price target of $45.55.

Murphy Oil Stock Performance

Shares of MUR opened at $34.34 on Monday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.82 and a quick ratio of 0.76. Murphy Oil has a one year low of $33.15 and a one year high of $49.14. The company’s fifty day moving average price is $38.17 and its 200 day moving average price is $41.42. The company has a market capitalization of $5.24 billion, a PE ratio of 9.57 and a beta of 2.21.

Murphy Oil (NYSE:MUR) last posted its quarterly earnings data on Thursday, August 8th. The oil and gas producer reported $0.81 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $813.97 million. During the same period in the previous year, the company posted $0.79 earnings per share. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. As a group, analysts expect that Murphy Oil will post 3.99 earnings per share for the current year.

Murphy Oil Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 19th were paid a $0.30 dividend. The ex-dividend date was Monday, August 19th. This represents a $1.20 annualized dividend and a dividend yield of 3.49%. Murphy Oil’s dividend payout ratio is currently 33.43%.

Hedge Funds Weigh In On Murphy Oil

Hedge funds and other institutional investors have recently modified their holdings of the stock. Mather Group LLC. raised its stake in Murphy Oil by 1,015.7% during the second quarter. Mather Group LLC. now owns 569 shares of the oil and gas producer’s stock worth $26,000 after acquiring an additional 518 shares in the last quarter. Rise Advisors LLC acquired a new stake in shares of Murphy Oil during the 1st quarter worth about $30,000. Lindbrook Capital LLC increased its position in shares of Murphy Oil by 47.7% during the 1st quarter. Lindbrook Capital LLC now owns 721 shares of the oil and gas producer’s stock worth $33,000 after purchasing an additional 233 shares in the last quarter. Headlands Technologies LLC lifted its holdings in Murphy Oil by 1,434.5% during the 2nd quarter. Headlands Technologies LLC now owns 1,289 shares of the oil and gas producer’s stock valued at $53,000 after purchasing an additional 1,205 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. boosted its position in Murphy Oil by 27.0% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 2,105 shares of the oil and gas producer’s stock valued at $96,000 after buying an additional 447 shares in the last quarter. Institutional investors 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.