Piper Sandler Has Lowered Expectations for Murphy Oil (NYSE:MUR) Stock Price

Murphy Oil (NYSE:MUR) had its target price cut by stock analysts at Piper Sandler from $39.00 to $35.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the oil and gas producer’s stock. Piper Sandler’s price objective suggests a potential upside of 20.58% from the stock’s current price.

A number of other equities research analysts also recently commented on the company. Scotiabank decreased their target price on Murphy Oil from $47.00 to $36.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 10th. Mizuho decreased their target price on Murphy Oil from $50.00 to $45.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. The Goldman Sachs Group decreased their target price on Murphy Oil from $44.00 to $39.00 and set a “neutral” rating on the stock in a research report on Monday, October 7th. KeyCorp decreased their target price on Murphy Oil from $54.00 to $50.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Finally, Barclays decreased their price objective on 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. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $39.08.

Murphy Oil Stock Down 0.6 %

Murphy Oil stock opened at $29.03 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. Murphy Oil has a 12 month low of $27.75 and a 12 month high of $49.14. The firm has a market cap of $4.23 billion, a price-to-earnings ratio of 9.36 and a beta of 2.17. The stock has a fifty day simple moving average of $31.05 and a two-hundred day simple moving average of $34.08.

Murphy Oil (NYSE:MUR) last released its earnings results on Thursday, November 7th. The oil and gas producer reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.02). The company had revenue of $758.33 million for the quarter, compared to analysts’ expectations of $759.74 million. Murphy Oil had a net margin of 14.78% and a return on equity of 9.22%. Murphy Oil’s revenue for the quarter was down 21.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.59 earnings per share. Equities analysts predict that Murphy Oil will post 3.05 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Quadrature Capital Ltd bought a new position in Murphy Oil in the third quarter worth approximately $1,217,000. Prospector Partners LLC grew its stake in Murphy Oil by 50.5% in the third quarter. Prospector Partners LLC now owns 307,092 shares of the oil and gas producer’s stock worth $10,361,000 after purchasing an additional 103,092 shares in the last quarter. Citigroup Inc. grew its stake in Murphy Oil by 14.5% in the third quarter. Citigroup Inc. now owns 605,557 shares of the oil and gas producer’s stock worth $20,431,000 after purchasing an additional 76,487 shares in the last quarter. Bank of Montreal Can grew its stake in Murphy Oil by 26.7% in the third quarter. Bank of Montreal Can now owns 67,246 shares of the oil and gas producer’s stock worth $2,268,000 after purchasing an additional 14,181 shares in the last quarter. Finally, Klein Pavlis & Peasley Financial Inc. bought a new position in Murphy Oil in the third quarter worth approximately $796,000. 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.