Wells Fargo & Company Increases Murphy Oil (NYSE:MUR) Price Target to $28.00

Murphy Oil (NYSE:MUR) had its target price increased by equities research analysts at Wells Fargo & Company from $26.00 to $28.00 in a report issued on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the oil and gas producer’s stock. Wells Fargo & Company‘s price target indicates a potential downside of 8.00% from the company’s current price.

MUR has been the topic of several other research reports. UBS Group boosted their target price on Murphy Oil from $24.00 to $27.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 14th. Weiss Ratings restated a “hold (c-)” rating on shares of Murphy Oil in a research note on Wednesday, October 8th. Piper Sandler upped their price objective on Murphy Oil from $32.00 to $34.00 and gave the stock an “overweight” rating in a report on Tuesday, October 21st. Scotiabank raised their target price on Murphy Oil from $26.00 to $30.00 and gave the company a “sector perform” rating in a report on Thursday, October 9th. Finally, Morgan Stanley decreased their target price on shares of Murphy Oil from $28.00 to $27.00 and set an “underweight” rating on the stock in a research report on Tuesday, October 14th. One analyst has rated the stock with a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $28.50.

Murphy Oil Stock Performance

Shares of MUR opened at $30.44 on Friday. The stock has a market capitalization of $4.34 billion, a P/E ratio of 15.77 and a beta of 0.99. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.77 and a current ratio of 0.84. Murphy Oil has a 1 year low of $18.94 and a 1 year high of $34.52. The company’s fifty day moving average is $28.13 and its two-hundred day moving average is $25.13.

Murphy Oil (NYSE:MUR) last released its earnings results on Monday, March 21st. The oil and gas producer reported ($0.09) EPS for the quarter. Murphy Oil had a return on equity of 5.25% and a net margin of 10.20%.The firm had revenue of $440.08 million during the quarter. On average, sell-side analysts predict that Murphy Oil will post 2.94 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Smartleaf Asset Management LLC lifted its stake in Murphy Oil by 67.3% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,094 shares of the oil and gas producer’s stock valued at $32,000 after buying an additional 440 shares in the last quarter. Brooklyn Investment Group raised its holdings in shares of Murphy Oil by 3,989.7% in the first quarter. Brooklyn Investment Group now owns 1,186 shares of the oil and gas producer’s stock worth $34,000 after acquiring an additional 1,157 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Murphy Oil by 1,710.9% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,666 shares of the oil and gas producer’s stock worth $47,000 after acquiring an additional 1,574 shares during the last quarter. Allworth Financial LP lifted its position in shares of Murphy Oil by 246.6% in the first quarter. Allworth Financial LP now owns 1,747 shares of the oil and gas producer’s stock valued at $50,000 after acquiring an additional 1,243 shares in the last quarter. Finally, UMB Bank n.a. boosted its stake in shares of Murphy Oil by 148.1% during the second quarter. UMB Bank n.a. now owns 2,273 shares of the oil and gas producer’s stock valued at $51,000 after acquiring an additional 1,357 shares during 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.