Murphy Oil (NYSE:MUR) Downgraded to “Underweight” Rating by Barclays

Barclays downgraded shares of Murphy Oil (NYSE:MUR) from an equal weight rating to an underweight rating in a research note published on Wednesday, MarketBeat Ratings reports. They currently have $24.00 price target on the oil and gas producer’s stock, down from their prior price target of $32.00.

Several other analysts also recently weighed in on the company. Truist Financial downgraded Murphy Oil from a “buy” rating to a “hold” rating and lowered their price objective for the company from $42.00 to $31.00 in a research report on Friday, January 31st. Piper Sandler lifted their price objective on Murphy Oil from $34.00 to $35.00 and gave the stock an “overweight” rating in a research report on Tuesday. Scotiabank decreased their target price on Murphy Oil from $36.00 to $22.00 and set a “sector perform” rating for the company in a report on Friday, April 11th. JPMorgan Chase & Co. lowered their price objective on shares of Murphy Oil from $33.00 to $28.00 and set a “neutral” rating for the company in a report on Thursday, March 13th. Finally, Morgan Stanley set a $27.00 target price on Murphy Oil and gave the stock an “underweight” rating in a report on Tuesday, April 15th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $32.23.

Murphy Oil Stock Performance

Shares of NYSE MUR opened at $20.58 on Wednesday. The stock has a market cap of $2.94 billion, a price-to-earnings ratio of 7.65 and a beta of 1.68. The stock’s 50-day moving average is $24.95 and its 200 day moving average is $29.06. The company has a current ratio of 0.83, a quick ratio of 0.77 and a debt-to-equity ratio of 0.24. Murphy Oil has a 1-year low of $18.95 and a 1-year high of $46.91.

Murphy Oil (NYSE:MUR) last announced its quarterly earnings data on Thursday, January 30th. The oil and gas producer reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.27). Murphy Oil had a net margin of 13.44% and a return on equity of 7.66%. During the same quarter in the previous year, the firm posted $0.90 earnings per share. On average, sell-side analysts anticipate that Murphy Oil will post 2.94 EPS for the current fiscal year.

Murphy Oil Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Friday, May 16th will be paid a $0.325 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 6.32%. Murphy Oil’s dividend payout ratio is currently 48.33%.

Insider Transactions at Murphy Oil

In other news, VP Meenambigai Palanivelu acquired 1,573 shares of Murphy Oil stock in a transaction on Wednesday, February 5th. The stock was acquired at an average cost of $26.70 per share, for a total transaction of $41,999.10. Following the purchase, the vice president now owns 37,065 shares in the company, valued at $989,635.50. This trade represents a 4.43 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Claiborne P. Deming bought 50,000 shares of the firm’s stock in a transaction on Tuesday, February 4th. The stock was purchased at an average cost of $26.47 per share, with a total value of $1,323,500.00. Following the completion of the acquisition, the director now directly owns 931,651 shares of the company’s stock, valued at approximately $24,660,801.97. The trade was a 5.67 % increase in their position. The disclosure for this purchase can be found here. 6.52% of the stock is owned by insiders.

Institutional Trading of Murphy Oil

Several institutional investors have recently added to or reduced their stakes in the business. Huntington National Bank lifted its holdings in shares of Murphy Oil by 342.8% during the fourth quarter. Huntington National Bank now owns 828 shares of the oil and gas producer’s stock valued at $25,000 after purchasing an additional 641 shares in the last quarter. Riverview Trust Co purchased a new position in Murphy Oil in the 1st quarter worth about $26,000. GeoWealth Management LLC purchased a new position in Murphy Oil in the 4th quarter worth about $39,000. Lindbrook Capital LLC lifted its stake in Murphy Oil by 60.5% during the 4th quarter. Lindbrook Capital LLC now owns 1,441 shares of the oil and gas producer’s stock valued at $44,000 after acquiring an additional 543 shares during the period. Finally, Byrne Asset Management LLC purchased a new stake in shares of Murphy Oil during the 1st quarter valued at about $44,000. 78.31% of the stock is currently owned by hedge funds and other institutional investors.

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.