Piper Sandler Reiterates Neutral Rating for Murphy Oil (NYSE:MUR)

Murphy Oil (NYSE:MUR)‘s stock had its “neutral” rating restated by Piper Sandler in a note issued to investors on Tuesday. They presently have a $34.00 price objective on the oil and gas producer’s stock. Piper Sandler’s price target would suggest a potential upside of 15.30% from the company’s current price.

Other equities research analysts also recently issued research reports about the company. Wells Fargo & Company raised their price target on Murphy Oil from $26.00 to $28.00 and gave the company an “equal weight” rating in a report on Friday. Morgan Stanley reduced their target price on shares of Murphy Oil from $28.00 to $27.00 and set an “underweight” rating for the company in a report on Tuesday, October 14th. Roth Capital reissued a “neutral” rating and issued a $25.00 price target on shares of Murphy Oil in a report on Thursday, November 6th. Zacks Research upgraded shares of Murphy Oil from a “strong sell” rating to a “hold” rating in a research report on Monday, November 10th. Finally, Mizuho boosted their price objective on Murphy Oil from $29.00 to $30.00 and gave the stock a “neutral” rating in a report on Thursday, November 6th. Thirteen investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $28.50.

Murphy Oil Stock Performance

Shares of MUR stock opened at $29.49 on Tuesday. The company has a fifty day moving average price of $28.21 and a two-hundred day moving average price of $25.22. Murphy Oil has a one year low of $18.94 and a one year high of $34.52. The stock has a market cap of $4.21 billion, a P/E ratio of 15.28 and a beta of 0.99. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.84 and a quick ratio of 0.77.

Murphy Oil (NYSE:MUR) last released its quarterly earnings data on Monday, March 21st. The oil and gas producer reported ($0.09) earnings per share 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 for the quarter. As a group, equities analysts predict that Murphy Oil will post 2.94 EPS for the current year.

Institutional Trading of Murphy Oil

A number of institutional investors and hedge funds have recently made changes to their positions in MUR. Hancock Whitney Corp bought a new position in shares of Murphy Oil in the 3rd quarter valued at $1,545,000. CANADA LIFE ASSURANCE Co raised its stake in Murphy Oil by 1.1% during the third quarter. CANADA LIFE ASSURANCE Co now owns 79,717 shares of the oil and gas producer’s stock worth $2,308,000 after acquiring an additional 838 shares in the last quarter. Dark Forest Capital Management LP raised its stake in Murphy Oil by 216.7% during the third quarter. Dark Forest Capital Management LP now owns 118,365 shares of the oil and gas producer’s stock worth $3,363,000 after acquiring an additional 80,992 shares in the last quarter. United Capital Financial Advisors LLC bought a new position in shares of Murphy Oil in the third quarter worth about $456,000. Finally, SIR Capital Management L.P. acquired a new stake in shares of Murphy Oil in the 3rd quarter valued at approximately $30,896,000. Institutional investors own 78.31% of the company’s stock.

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.