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

Murphy Oil (NYSE:MUR) had its target price reduced by Piper Sandler from $39.00 to $35.00 in a report published on Wednesday,Benzinga reports. They currently have an overweight rating on the oil and gas producer’s stock.

A number of other research analysts have also issued reports on MUR. Mizuho reduced their price objective on Murphy Oil from $50.00 to $45.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Truist Financial upped their price target on shares of Murphy Oil from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. The Goldman Sachs Group cut their price objective on shares of Murphy Oil from $44.00 to $39.00 and set a “neutral” rating on the stock in a research report on Monday, October 7th. Morgan Stanley restated an “underweight” rating and issued a $37.00 target price on shares of Murphy Oil in a research report on Wednesday, January 22nd. Finally, UBS Group cut their price target on Murphy Oil from $38.00 to $34.00 and set a “neutral” rating on the stock in a report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $39.08.

Murphy Oil Stock Down 0.4 %

MUR stock opened at $29.09 on Wednesday. The firm has a fifty day moving average price of $30.97 and a two-hundred day moving average price of $34.05. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.71 and a quick ratio of 0.65. Murphy Oil has a 1-year low of $27.75 and a 1-year high of $49.14. The firm has a market cap of $4.24 billion, a price-to-earnings ratio of 9.39 and a beta of 2.17.

Murphy Oil (NYSE:MUR) last released its quarterly earnings data 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). Murphy Oil had a return on equity of 9.22% and a net margin of 14.78%. The business had revenue of $758.33 million for the quarter, compared to analyst estimates of $759.74 million. During the same quarter last year, the company earned $1.59 EPS. Murphy Oil’s revenue was down 21.0% compared to the same quarter last year. Research analysts predict that Murphy Oil will post 3.05 EPS for the current year.

Murphy Oil Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Tuesday, February 18th will be issued a dividend of $0.325 per share. This is a positive change from Murphy Oil’s previous quarterly dividend of $0.30. This represents a $1.30 dividend on an annualized basis and a yield of 4.47%. Murphy Oil’s payout ratio is presently 38.71%.

Institutional Investors Weigh In On Murphy Oil

A number of institutional investors and hedge funds have recently bought and sold shares of MUR. Covestor Ltd grew its stake in shares of Murphy Oil by 266.8% in the 3rd quarter. Covestor Ltd now owns 741 shares of the oil and gas producer’s stock worth $25,000 after purchasing an additional 539 shares during the last quarter. Reston Wealth Management LLC bought a new stake in Murphy Oil during the third quarter worth approximately $27,000. Compass Wealth Management LLC acquired a new position in Murphy Oil in the third quarter worth approximately $42,000. Bruce G. Allen Investments LLC increased its holdings in shares of Murphy Oil by 106.5% in the third quarter. Bruce G. Allen Investments LLC now owns 1,470 shares of the oil and gas producer’s stock valued at $50,000 after buying an additional 758 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Murphy Oil by 90.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,758 shares of the oil and gas producer’s stock valued at $59,000 after acquiring an additional 833 shares during the last quarter. 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.