Murphy Oil (NYSE:MUR) Price Target Cut to $36.00

Murphy Oil (NYSE:MURFree Report) had its price objective lowered by Scotiabank from $47.00 to $36.00 in a research report released on Thursday morning, Benzinga reports. The brokerage currently has a sector perform rating on the oil and gas producer’s stock.

A number of other brokerages have also weighed in on MUR. UBS Group cut their price objective on Murphy Oil from $45.00 to $39.00 and set a neutral rating on the stock in a report on Wednesday, September 18th. BMO Capital Markets lowered their target price on Murphy Oil from $42.00 to $40.00 and set a market perform rating on the stock in a research note on Friday, October 4th. StockNews.com downgraded Murphy Oil from a buy rating to a hold rating in a research note on Tuesday, June 18th. JPMorgan Chase & Co. lowered their target price on Murphy Oil from $47.00 to $39.00 and set a neutral rating on the stock in a research note on Thursday, September 12th. Finally, Piper Sandler lowered their target price on Murphy Oil from $54.00 to $44.00 and set an overweight rating on the stock in a research note on Thursday, August 15th. Ten analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $41.58.

Check Out Our Latest Research Report on MUR

Murphy Oil Stock Up 1.1 %

Shares of MUR stock opened at $35.91 on Thursday. The stock’s 50-day simple moving average is $35.91 and its 200-day simple moving average is $40.40. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.76 and a current ratio of 0.82. The firm has a market capitalization of $5.48 billion, a PE ratio of 10.00 and a beta of 2.20. Murphy Oil has a fifty-two week low of $32.53 and a fifty-two week high of $49.14.

Murphy Oil (NYSE:MURGet Free Report) last announced its quarterly earnings data on Thursday, August 8th. The oil and gas producer reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.08. The business had revenue of $802.80 million for the quarter, compared to analyst estimates of $813.97 million. Murphy Oil had a return on equity of 11.68% and a net margin of 17.32%. The company’s revenue was down 1.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.79 earnings per share. Equities analysts expect that Murphy Oil will post 3.47 earnings per share for the current year.

Murphy Oil Announces Dividend

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 $0.30 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.20 annualized dividend and a dividend yield of 3.34%. Murphy Oil’s dividend payout ratio (DPR) is presently 33.43%.

Hedge Funds Weigh In On Murphy Oil

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Creative Planning lifted its position in shares of Murphy Oil by 11.2% in the third 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 lifted its position in shares of Murphy Oil by 641.7% in the third 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 acquiring an additional 582,020 shares in the last quarter. Willis Investment Counsel increased its holdings in shares of Murphy Oil by 1.0% in the third quarter. Willis Investment Counsel now owns 245,099 shares of the oil and gas producer’s stock valued at $8,270,000 after purchasing an additional 2,438 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt increased its holdings in shares of Murphy Oil by 24.9% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 22,600 shares of the oil and gas producer’s stock valued at $762,000 after purchasing an additional 4,500 shares during the last quarter. Finally, Bruce G. Allen Investments LLC increased its holdings in shares of Murphy Oil by 106.5% in the third quarter. Bruce G. Allen Investments LLC now owns 1,470 shares of the oil and gas producer’s stock valued at $50,000 after purchasing an additional 758 shares during the last quarter. Hedge funds and other institutional investors own 78.31% of the company’s stock.

About Murphy Oil

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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.

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