Barclays Cuts Murphy Oil (NYSE:MUR) Price Target to $37.00

Murphy Oil (NYSE:MUR) had its price objective trimmed by Barclays from $38.00 to $37.00 in a research report released on Monday,Benzinga reports. The brokerage currently has an equal weight rating on the oil and gas producer’s stock.

A number of other research firms have also recently weighed in on MUR. Piper Sandler lowered their target price on shares of Murphy Oil from $44.00 to $43.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 15th. The Goldman Sachs Group lowered their target price on shares of Murphy Oil from $44.00 to $39.00 and set a “neutral” rating on the stock in a research note on Monday, October 7th. Morgan Stanley lowered their target price on shares of Murphy Oil from $43.00 to $39.00 and set an “equal weight” rating on the stock in a research note on Monday, September 16th. KeyCorp lowered their target price on shares of Murphy Oil from $54.00 to $50.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Murphy Oil from $47.00 to $39.00 and set a “neutral” rating on the stock in a research note on Thursday, September 12th. Ten research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Murphy Oil has an average rating of “Hold” and a consensus price target of $41.08.

Murphy Oil Stock Up 0.5 %

Shares of MUR opened at $32.46 on Monday. The company has a 50-day simple moving average of $33.82 and a 200-day simple moving average of $38.12. The firm has a market capitalization of $4.73 billion, a P/E ratio of 10.47 and a beta of 2.21. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.65 and a current ratio of 0.71. Murphy Oil has a 52 week low of $30.99 and a 52 week high of $49.14.

Murphy Oil (NYSE:MUR) last announced its quarterly earnings data on Thursday, November 7th. The oil and gas producer reported $0.74 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.02). The company had revenue of $758.33 million for the quarter, compared to analyst estimates of $759.74 million. Murphy Oil had a net margin of 14.78% and a return on equity of 9.22%. The firm’s quarterly revenue was down 21.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.59 EPS. On average, equities research analysts expect that Murphy Oil will post 3.33 earnings per share for the current year.

Murphy Oil Announces Dividend

The business 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. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.70%. Murphy Oil’s payout ratio is 38.71%.

Hedge Funds Weigh In On Murphy Oil

Large investors have recently modified their holdings of the stock. Mather Group LLC. lifted its position in shares of 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 purchasing an additional 518 shares in the last quarter. Covestor Ltd lifted its holdings 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 buying an additional 539 shares during the period. Reston Wealth Management LLC acquired a new position in Murphy Oil in the third quarter valued at approximately $27,000. Compass Wealth Management LLC acquired a new position in Murphy Oil in the third quarter valued at approximately $42,000. Finally, Headlands Technologies LLC lifted its holdings in Murphy Oil by 1,434.5% in the second quarter. Headlands Technologies LLC now owns 1,289 shares of the oil and gas producer’s stock valued at $53,000 after buying an additional 1,205 shares during the period. 78.31% of the stock is currently owned by institutional investors and hedge funds.

About Murphy Oil

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.