Murphy Oil (NYSE:MUR) Now Covered by Wolfe Research

Wolfe Research initiated coverage on shares of Murphy Oil (NYSE:MUR) in a report published on Thursday morning, MarketBeat.com reports. The firm issued a peer perform rating on the oil and gas producer’s stock.

A number of other brokerages also recently commented on MUR. JPMorgan Chase & Co. lifted their price objective on shares of Murphy Oil from $51.00 to $52.00 and gave the company an overweight rating in a research report on Thursday, April 4th. Truist Financial lifted their price objective on shares of Murphy Oil from $58.00 to $59.00 and gave the company a buy rating in a research report on Friday, April 5th. Scotiabank decreased their price objective on shares of Murphy Oil from $50.00 to $47.00 and set a sector outperform rating for the company in a research report on Friday, July 12th. Barclays began coverage on shares of Murphy Oil in a research report on Wednesday, April 10th. They issued an equal weight rating and a $54.00 price objective for the company. Finally, Mizuho lifted their price objective on shares of Murphy Oil from $55.00 to $59.00 and gave the company a buy rating in a research report on Monday, May 13th. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $50.64.

Murphy Oil Stock Down 0.8 %

Shares of MUR stock opened at $41.66 on Thursday. The company has a current ratio of 0.93, a quick ratio of 0.87 and a debt-to-equity ratio of 0.24. Murphy Oil has a 1 year low of $36.95 and a 1 year high of $49.14. The firm’s fifty day moving average price is $41.17 and its two-hundred day moving average price is $41.85. The firm has a market capitalization of $6.36 billion, a P/E ratio of 11.60 and a beta of 2.25.

Murphy Oil (NYSE:MUR) last issued its quarterly earnings results on Thursday, May 2nd. The oil and gas producer reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.03. Murphy Oil had a net margin of 16.40% and a return on equity of 11.75%. The firm had revenue of $794.80 million for the quarter, compared to analyst estimates of $750.94 million. During the same period in the previous year, the business earned $1.24 EPS. The company’s revenue was down 5.4% compared to the same quarter last year. On average, equities analysts predict that Murphy Oil will post 4.21 EPS for the current fiscal year.

Institutional Trading of Murphy Oil

Hedge funds and other institutional investors have recently modified their holdings of the stock. Mather Group LLC. boosted its holdings in shares of Murphy Oil by 1,015.7% during the 2nd quarter. Mather Group LLC. now owns 569 shares of the oil and gas producer’s stock worth $26,000 after buying an additional 518 shares during the period. Rise Advisors LLC bought a new stake in Murphy Oil in the 1st quarter valued at about $30,000. Bruce G. Allen Investments LLC bought a new stake in Murphy Oil in the 4th quarter valued at about $29,000. Lindbrook Capital LLC boosted its holdings in Murphy Oil by 47.7% in the 1st quarter. Lindbrook Capital LLC now owns 721 shares of the oil and gas producer’s stock valued at $33,000 after purchasing an additional 233 shares during the period. Finally, Benjamin F. Edwards & Company Inc. boosted its holdings in Murphy Oil by 27.0% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 2,105 shares of the oil and gas producer’s stock valued at $96,000 after purchasing an additional 447 shares during the period. 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.