Brokerages Set Murphy Oil Corporation (NYSE:MUR) PT at $28.50

Murphy Oil Corporation (NYSE:MUR) has been assigned an average rating of “Reduce” from the fifteen brokerages that are covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating and thirteen have assigned a hold rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $28.50.

Several equities analysts have recently commented on the stock. UBS Group upped their price objective on shares of Murphy Oil from $24.00 to $27.00 and gave the company a “neutral” rating in a research note on Tuesday, October 14th. Mizuho increased their price objective on Murphy Oil from $29.00 to $30.00 and gave the stock a “neutral” rating in a report on Thursday, November 6th. Scotiabank lifted their price objective on Murphy Oil from $26.00 to $30.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 9th. Piper Sandler restated a “neutral” rating and set a $34.00 target price on shares of Murphy Oil in a report on Tuesday, November 18th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Murphy Oil in a report on Monday, December 1st.

Murphy Oil Price Performance

Shares of Murphy Oil stock opened at $32.74 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.94 and a quick ratio of 0.87. Murphy Oil has a one year low of $18.94 and a one year high of $34.52. The business’s 50 day simple moving average is $29.40 and its two-hundred day simple moving average is $26.17. The stock has a market capitalization of $4.67 billion, a P/E ratio of 33.41 and a beta of 0.81.

Murphy Oil (NYSE:MUR) last issued its earnings results on Monday, March 21st. The oil and gas producer reported ($0.09) EPS for the quarter. The firm had revenue of $440.08 million during the quarter. Murphy Oil had a return on equity of 4.30% and a net margin of 5.16%. Analysts forecast that Murphy Oil will post 2.94 EPS for the current year.

Murphy Oil Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Monday, November 17th were paid a dividend of $0.325 per share. The ex-dividend date of this dividend was Monday, November 17th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 4.0%. Murphy Oil’s payout ratio is presently 132.65%.

Institutional Trading of Murphy Oil

Several institutional investors and hedge funds have recently bought and sold shares of MUR. IFP Advisors Inc boosted its position in Murphy Oil by 69.4% during the 3rd quarter. IFP Advisors Inc now owns 6,326 shares of the oil and gas producer’s stock valued at $182,000 after acquiring an additional 2,591 shares in the last quarter. CIBC Bancorp USA Inc. purchased a new position in shares of Murphy Oil in the 3rd quarter valued at approximately $410,000. Coldstream Capital Management Inc. bought a new stake in shares of Murphy Oil during the third quarter valued at approximately $204,000. Hancock Whitney Corp purchased a new stake in Murphy Oil in the third quarter worth $1,545,000. Finally, CANADA LIFE ASSURANCE Co raised its holdings in Murphy Oil by 1.1% in the third quarter. CANADA LIFE ASSURANCE Co now owns 79,717 shares of the oil and gas producer’s stock worth $2,308,000 after purchasing an additional 838 shares in the last quarter. 78.31% of the stock is currently owned by hedge funds and other institutional investors.

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.