Brokerages Set Murphy Oil Co. (NYSE:MUR) Target Price at $40.92

Murphy Oil Co. (NYSE:MUR) has been given an average rating of “Hold” by the fourteen brokerages that are currently covering the company, MarketBeat Ratings reports. Nine investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price target among brokers that have covered the stock in the last year is $40.92.

Several research analysts have recently weighed in on the stock. Morgan Stanley reduced their target price on shares of Murphy Oil from $43.00 to $39.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. Scotiabank decreased their price objective on shares of Murphy Oil from $47.00 to $36.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 10th. BMO Capital Markets dropped their target price on shares of Murphy Oil from $42.00 to $40.00 and set a “market perform” rating for the company in a report on Friday, October 4th. UBS Group decreased their price target on Murphy Oil from $39.00 to $38.00 and set a “neutral” rating on the stock in a report on Monday, November 18th. Finally, The Goldman Sachs Group lowered their price objective on Murphy Oil from $44.00 to $39.00 and set a “neutral” rating on the stock in a research report on Monday, October 7th.

Hedge Funds Weigh In On Murphy Oil

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mutual of America Capital Management LLC raised its position in Murphy Oil by 21.2% during the 2nd quarter. Mutual of America Capital Management LLC now owns 218,739 shares of the oil and gas producer’s stock worth $9,021,000 after buying an additional 38,334 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its stake in shares of Murphy Oil by 24.2% in the second quarter. Oppenheimer Asset Management Inc. now owns 166,316 shares of the oil and gas producer’s stock worth $6,859,000 after buying an additional 32,411 shares during the last quarter. Cetera Investment Advisers acquired a new stake in Murphy Oil during the first quarter worth about $1,700,000. AXA S.A. raised its position in Murphy Oil by 86.5% during the second quarter. AXA S.A. now owns 132,710 shares of the oil and gas producer’s stock valued at $5,473,000 after acquiring an additional 61,537 shares in the last quarter. Finally, Atria Investments Inc purchased a new position in Murphy Oil during the first quarter valued at approximately $1,859,000. Hedge funds and other institutional investors own 78.31% of the company’s stock.

Murphy Oil Stock Performance

Shares of Murphy Oil stock opened at $32.53 on Monday. The stock has a market cap of $4.74 billion, a price-to-earnings ratio of 10.54 and a beta of 2.21. 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 $30.99 and a 1 year high of $49.14. The firm’s 50-day moving average is $33.55 and its 200 day moving average is $37.33.

Murphy Oil (NYSE:MUR) last issued its earnings results on Thursday, November 7th. The oil and gas producer reported $0.74 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.02). The business had revenue of $758.33 million for the quarter, compared to analysts’ expectations of $759.74 million. Murphy Oil had a net margin of 14.78% and a return on equity of 9.22%. The business’s revenue for the quarter was down 21.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.59 earnings per share. Sell-side analysts anticipate that Murphy Oil will post 3.15 EPS for the current fiscal year.

Murphy Oil Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 3.69%. The ex-dividend date of this dividend is Monday, November 18th. Murphy Oil’s dividend payout ratio (DPR) is presently 38.71%.

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.