Piper Sandler Issues Pessimistic Forecast for Murphy Oil (NYSE:MUR) Stock Price

Murphy Oil (NYSE:MUR) had its price target decreased by Piper Sandler from $42.00 to $39.00 in a research note issued to investors on Tuesday,Benzinga reports. Piper Sandler currently has an overweight rating on the oil and gas producer’s stock.

Other equities research analysts also recently issued research reports about the stock. BMO Capital Markets decreased their price target on shares of 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. The Goldman Sachs Group lowered their price target on shares of Murphy Oil from $44.00 to $39.00 and set a “neutral” rating for the company in a report on Monday, October 7th. Mizuho reduced their price objective on Murphy Oil from $50.00 to $45.00 and set an “outperform” rating on the stock in a research note on Monday. JPMorgan Chase & Co. dropped their target price 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, Scotiabank cut their price objective on shares of Murphy Oil from $47.00 to $36.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 10th. Ten investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Murphy Oil has a consensus rating of “Hold” and an average price target of $39.58.

Murphy Oil Stock Down 1.3 %

MUR opened at $28.14 on Tuesday. Murphy Oil has a 52 week low of $28.09 and a 52 week high of $49.14. The company has a quick ratio of 0.65, a current ratio of 0.71 and a debt-to-equity ratio of 0.24. The firm has a 50-day simple moving average of $32.10 and a two-hundred day simple moving average of $35.99. The company has a market capitalization of $4.10 billion, a PE ratio of 9.08 and a beta of 2.18.

Murphy Oil (NYSE:MUR) last released its quarterly earnings data on Thursday, November 7th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.02). The firm had revenue of $758.33 million during the quarter, compared to the consensus estimate of $759.74 million. Murphy Oil had a return on equity of 9.22% and a net margin of 14.78%. The business’s revenue was down 21.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.59 EPS. Analysts forecast that Murphy Oil will post 3.15 earnings per share for the current fiscal year.

Murphy Oil Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 18th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 4.26%. The ex-dividend date was Monday, November 18th. Murphy Oil’s dividend payout ratio (DPR) is 38.71%.

Hedge Funds Weigh In On Murphy Oil

Large investors have recently bought and sold shares of the business. Covestor Ltd grew its stake in Murphy Oil by 266.8% in the third quarter. Covestor Ltd now owns 741 shares of the oil and gas producer’s stock valued at $25,000 after purchasing an additional 539 shares during the last quarter. Reston Wealth Management LLC acquired a new position in shares of Murphy Oil in the third quarter valued at about $27,000. Compass Wealth Management LLC acquired a new stake in shares of Murphy Oil in the third quarter worth $42,000. Headlands Technologies LLC grew its position 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 worth $53,000 after purchasing an additional 1,205 shares during the period. Finally, Bruce G. Allen Investments LLC raised its stake in shares of Murphy Oil by 106.5% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 1,470 shares of the oil and gas producer’s stock valued at $50,000 after buying an additional 758 shares during 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.