Mizuho upgraded shares of Murphy Oil (NYSE:MUR) from an underperform rating to a neutral rating in a research report report published on Friday morning, Marketbeat Ratings reports. They currently have $41.00 price target on the oil and gas producer’s stock.
Several other equities research analysts have also recently commented on MUR. Zacks Investment Research cut Murphy Oil from a strong-buy rating to a hold rating in a research note on Tuesday, June 26th. Barclays boosted their price target on Murphy Oil from $34.00 to $36.00 and gave the company an equal weight rating in a research note on Wednesday, July 11th. Morgan Stanley started coverage on Murphy Oil in a research note on Thursday, July 12th. They issued an underweight rating and a $26.00 price target for the company. Wells Fargo & Co lowered their price target on Murphy Oil from $36.00 to $34.00 and set a market perform rating for the company in a research note on Friday, August 10th. Finally, KLR Group reissued a buy rating and issued a $39.00 price target on shares of Murphy Oil in a research note on Monday, August 20th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $35.90.
NYSE:MUR traded up $0.23 on Friday, hitting $34.85. 1,786,603 shares of the company’s stock traded hands, compared to its average volume of 2,106,672. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.46 and a quick ratio of 1.35. Murphy Oil has a 1 year low of $24.39 and a 1 year high of $36.53. The stock has a market cap of $5.99 billion, a PE ratio of -268.08 and a beta of 2.26.
Murphy Oil (NYSE:MUR) last released its earnings results on Wednesday, August 8th. The oil and gas producer reported $0.36 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.01. Murphy Oil had a positive return on equity of 2.32% and a negative net margin of 6.19%. The company had revenue of $655.15 million for the quarter, compared to analysts’ expectations of $623.76 million. During the same quarter in the previous year, the business posted ($0.11) EPS. The business’s revenue for the quarter was up 37.2% on a year-over-year basis. On average, equities research analysts anticipate that Murphy Oil will post 1.77 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Investors of record on Monday, November 12th will be paid a $0.25 dividend. The ex-dividend date is Thursday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 2.87%. Murphy Oil’s payout ratio is -769.23%.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. FMR LLC lifted its holdings in Murphy Oil by 7.2% in the 2nd quarter. FMR LLC now owns 15,868,414 shares of the oil and gas producer’s stock worth $535,876,000 after purchasing an additional 1,065,018 shares during the last quarter. Marshall Wace LLP lifted its holdings in Murphy Oil by 5,302.0% in the 2nd quarter. Marshall Wace LLP now owns 824,190 shares of the oil and gas producer’s stock worth $27,833,000 after purchasing an additional 808,933 shares during the last quarter. Aristotle Atlantic Partners LLC lifted its holdings in Murphy Oil by 2,028.0% in the 2nd quarter. Aristotle Atlantic Partners LLC now owns 548,637 shares of the oil and gas producer’s stock worth $18,526,000 after purchasing an additional 522,855 shares during the last quarter. Millennium Management LLC lifted its holdings in Murphy Oil by 94.2% in the 1st quarter. Millennium Management LLC now owns 763,921 shares of the oil and gas producer’s stock worth $19,740,000 after purchasing an additional 370,598 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in Murphy Oil by 69.5% in the 2nd quarter. Renaissance Technologies LLC now owns 726,600 shares of the oil and gas producer’s stock worth $24,537,000 after purchasing an additional 298,000 shares during the last quarter. 89.62% of the stock is owned by institutional investors and hedge funds.
About Murphy Oil
Murphy Oil Corporation operates as an oil and gas exploration and production company worldwide. 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. Murphy Oil Corporation was founded in 1950 and is headquartered in El Dorado, Arkansas.
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