UBS Group Has Lowered Expectations for Murphy Oil (NYSE:MUR) Stock Price

Murphy Oil (NYSE:MUR) had its price objective cut by UBS Group from $39.00 to $38.00 in a research note issued to investors on Monday,Benzinga reports. They currently have a neutral rating on the oil and gas producer’s stock.

MUR has been the topic of several other research reports. Mizuho reduced their price objective on Murphy Oil from $59.00 to $50.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. JPMorgan Chase & Co. cut their target price on shares of Murphy Oil from $47.00 to $39.00 and set a “neutral” rating on the stock in a research report on Thursday, September 12th. The Goldman Sachs Group lowered their price target on shares of Murphy Oil from $44.00 to $39.00 and set a “neutral” rating for the company in a research report on Monday, October 7th. Truist Financial cut their price objective on shares of Murphy Oil from $55.00 to $42.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Finally, KeyCorp dropped their target price on shares of Murphy Oil from $54.00 to $50.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Ten analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Murphy Oil presently has a consensus rating of “Hold” and a consensus target price of $40.92.

Murphy Oil Trading Up 2.5 %

MUR stock opened at $33.00 on Monday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.71 and a quick ratio of 0.65. The stock has a market capitalization of $4.81 billion, a price-to-earnings ratio of 10.65 and a beta of 2.21. The business has a fifty day moving average price of $33.71 and a 200 day moving average price of $37.82. Murphy Oil has a fifty-two week low of $30.99 and a fifty-two week high of $49.14.

Murphy Oil (NYSE:MUR) last issued its quarterly earnings results on Thursday, November 7th. The oil and gas producer reported $0.74 earnings per share (EPS) 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 company 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. The firm’s quarterly revenue was down 21.0% on a year-over-year basis. Analysts expect that Murphy Oil will post 3.3 EPS for the current fiscal year.

Murphy Oil Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.64%. Murphy Oil’s payout ratio is 38.71%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. State Board of Administration of Florida Retirement System grew its stake in shares of Murphy Oil by 22.1% in the first quarter. State Board of Administration of Florida Retirement System now owns 51,812 shares of the oil and gas producer’s stock valued at $2,368,000 after buying an additional 9,370 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its holdings in shares of Murphy Oil by 76.7% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 15,216 shares of the oil and gas producer’s stock worth $706,000 after purchasing an additional 6,604 shares during the period. Edgestream Partners L.P. acquired a new position in Murphy Oil in the 1st quarter valued at $974,000. O Shaughnessy Asset Management LLC raised its stake in Murphy Oil by 138.8% in the first quarter. O Shaughnessy Asset Management LLC now owns 29,702 shares of the oil and gas producer’s stock valued at $1,357,000 after purchasing an additional 17,265 shares in the last quarter. Finally, Seven Eight Capital LP bought a new stake in shares of Murphy Oil during the 1st quarter worth approximately $372,000. 78.31% of the stock is owned by institutional investors and hedge funds.

Murphy Oil Company Profile

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.