Zacks Research Downgrades Murphy Oil (NYSE:MUR) to Strong Sell

Murphy Oil (NYSE:MUR) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Tuesday,Zacks.com reports.

Several other analysts have also weighed in on MUR. UBS Group lifted their price objective on shares of Murphy Oil from $27.00 to $31.00 and gave the company a “neutral” rating in a research note on Friday, December 12th. Barclays lifted their price target on shares of Murphy Oil from $29.00 to $31.00 and gave the company an “underweight” rating in a research note on Wednesday. Roth Mkm reiterated a “neutral” rating on shares of Murphy Oil in a report on Tuesday, January 6th. Piper Sandler restated a “neutral” rating and issued a $34.00 target price on shares of Murphy Oil in a research note on Tuesday, November 18th. Finally, Evercore ISI decreased their target price on Murphy Oil from $23.00 to $22.00 and set an “in-line” rating for the company in a research report on Monday, October 6th. Thirteen equities research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $29.69.

Murphy Oil Trading Down 0.3%

Murphy Oil stock traded down $0.08 during trading hours on Tuesday, reaching $31.51. 352,870 shares of the company’s stock were exchanged, compared to its average volume of 2,630,692. The firm’s 50 day simple moving average is $31.77 and its 200 day simple moving average is $28.24. Murphy Oil has a twelve month low of $18.94 and a twelve month high of $35.19. The company has a quick ratio of 0.87, a current ratio of 0.94 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $4.50 billion, a PE ratio of 32.14 and a beta of 0.78.

Murphy Oil (NYSE:MUR) last announced its earnings results on Wednesday, November 5th. The oil and gas producer reported $0.41 EPS for the quarter, beating the consensus estimate of $0.16 by $0.25. The company had revenue of $720.97 million for the quarter, compared to analyst estimates of $648.80 million. Murphy Oil had a return on equity of 4.30% and a net margin of 5.16%.The firm’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.74 EPS. Research analysts predict that Murphy Oil will post 2.94 earnings per share for the current year.

Hedge Funds Weigh In On Murphy Oil

Several large investors have recently added to or reduced their stakes in MUR. Smartleaf Asset Management LLC increased its holdings in Murphy Oil by 67.3% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,094 shares of the oil and gas producer’s stock worth $32,000 after purchasing an additional 440 shares in the last quarter. UMB Bank n.a. boosted its position 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 buying an additional 1,357 shares during the last quarter. Allworth Financial LP boosted its position in shares of Murphy Oil by 39.7% during the second quarter. Allworth Financial LP now owns 2,440 shares of the oil and gas producer’s stock valued at $55,000 after buying an additional 693 shares during the last quarter. Hantz Financial Services Inc. grew its holdings in Murphy Oil by 494.0% during the second quarter. Hantz Financial Services Inc. now owns 2,786 shares of the oil and gas producer’s stock worth $63,000 after buying an additional 2,317 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in Murphy Oil by 437.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,802 shares of the oil and gas producer’s stock valued at $86,000 after buying an additional 3,095 shares during the last quarter. Institutional investors own 78.31% of the company’s stock.

Murphy Oil Company Profile

Murphy Oil Corporation is an independent upstream oil and gas company engaged in the exploration, development and production of crude oil, natural gas and natural gas liquids. The company’s operations encompass conventional onshore and offshore reservoirs, with an emphasis on liquids-rich properties and deepwater assets. Through a combination of proprietary technologies and strategic joint ventures, Murphy Oil seeks to optimize recovery rates and manage its portfolio to balance long-term resource development with operational flexibility.

Murphy Oil’s exploration and production activities are geographically diversified.