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

Murphy Oil (NYSE:MUR) had its price objective reduced by research analysts at Piper Sandler from $39.00 to $35.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the oil and gas producer’s stock. Piper Sandler’s price objective would suggest a potential upside of 27.42% from the stock’s current price.

Several other equities research analysts also recently weighed in on the company. Mizuho lowered their price target on Murphy Oil from $50.00 to $45.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Barclays dropped their target price on shares of Murphy Oil from $38.00 to $37.00 and set an “equal weight” rating on the stock in a research report on Monday, November 11th. The Goldman Sachs Group decreased 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. UBS Group dropped their price objective on shares of Murphy Oil from $38.00 to $34.00 and set a “neutral” rating on the stock in a report on Monday, December 9th. Finally, Morgan Stanley restated an “underweight” rating and issued a $37.00 target price on shares of Murphy Oil in a research note on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company. According to MarketBeat, Murphy Oil presently has an average rating of “Hold” and a consensus target price of $39.08.

Murphy Oil Trading Down 5.9 %

Shares of NYSE:MUR opened at $27.47 on Wednesday. The company has a current ratio of 0.71, a quick ratio of 0.65 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $4.01 billion, a PE ratio of 8.86 and a beta of 2.17. Murphy Oil has a 12-month low of $27.15 and a 12-month high of $49.14. The business’s fifty day simple moving average is $30.86 and its 200-day simple moving average is $34.00.

Murphy Oil (NYSE:MUR) last released its quarterly earnings results on Thursday, January 30th. The oil and gas producer reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.27). Murphy Oil had a return on equity of 9.22% and a net margin of 14.78%. During the same quarter in the previous year, the business earned $0.90 earnings per share. As a group, equities research analysts predict that Murphy Oil will post 3.05 earnings per share for the current fiscal year.

Institutional Trading of Murphy Oil

A number of hedge funds have recently added to or reduced their stakes in MUR. Covestor Ltd raised its position in shares of Murphy Oil by 266.8% in the third quarter. Covestor Ltd now owns 741 shares of the oil and gas producer’s stock worth $25,000 after acquiring an additional 539 shares during the period. Reston Wealth Management LLC acquired a new position in Murphy Oil in the 3rd quarter worth about $27,000. Compass Wealth Management LLC purchased a new position in Murphy Oil during the third quarter worth approximately $42,000. Bruce G. Allen Investments LLC grew its holdings in 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 period. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of Murphy Oil by 90.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,758 shares of the oil and gas producer’s stock valued at $59,000 after buying an additional 833 shares in the last quarter. 78.31% of the stock is owned by hedge funds and other institutional investors.

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.