Murphy Oil (NYSE:MUR) PT Lowered to $55.00 at Truist Financial

Murphy Oil (NYSE:MUR) had its target price reduced by Truist Financial from $59.00 to $55.00 in a report issued on Monday morning, Benzinga reports. Truist Financial currently has a buy rating on the oil and gas producer’s stock.

A number of other analysts have also recently issued reports on MUR. KeyCorp raised their price objective on Murphy Oil from $50.00 to $54.00 and gave the company an overweight rating in a research report on Monday, April 22nd. Piper Sandler lowered their target price on Murphy Oil from $55.00 to $54.00 and set an overweight rating on the stock in a research note on Thursday, July 18th. Mizuho raised their price objective on Murphy Oil from $55.00 to $59.00 and gave the stock a buy rating in a research note on Monday, May 13th. StockNews.com lowered Murphy Oil from a buy rating to a hold rating in a research note on Tuesday, June 18th. Finally, JPMorgan Chase & Co. raised their price objective on Murphy Oil from $51.00 to $52.00 and gave the stock an overweight rating in a research note on Thursday, April 4th. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $50.27.

Murphy Oil Stock Performance

Shares of MUR stock opened at $39.79 on Monday. The company has a quick ratio of 0.87, a current ratio of 0.93 and a debt-to-equity ratio of 0.24. Murphy Oil has a 12 month low of $36.95 and a 12 month high of $49.14. The company’s fifty day simple moving average is $40.96 and its 200-day simple moving average is $41.83. The firm has a market cap of $6.07 billion, a PE ratio of 11.08 and a beta of 2.25.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP grew its position in shares of Murphy Oil by 2.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 7,861,968 shares of the oil and gas producer’s stock valued at $335,397,000 after buying an additional 207,547 shares during the last quarter. Natixis Advisors L.P. raised its stake in Murphy Oil by 11.9% during the 4th quarter. Natixis Advisors L.P. now owns 164,568 shares of the oil and gas producer’s stock worth $7,020,000 after buying an additional 17,556 shares during the period. Duality Advisers LP raised its stake in Murphy Oil by 364.6% during the 1st quarter. Duality Advisers LP now owns 113,451 shares of the oil and gas producer’s stock worth $5,185,000 after buying an additional 89,032 shares during the period. DRW Securities LLC raised its stake in shares of Murphy Oil by 280.0% in the fourth quarter. DRW Securities LLC now owns 72,200 shares of the oil and gas producer’s stock worth $3,080,000 after purchasing an additional 53,201 shares during the last quarter. Finally, Invenomic Capital Management LP purchased a new stake in shares of Murphy Oil in the fourth quarter worth approximately $16,349,000. 78.31% of the stock is owned by institutional investors and hedge funds.

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.