Murphy Oil Corp. (MUR) Earns Overweight Rating from Barclays PLC
Murphy Oil Corp. (NYSE:MUR)‘s stock had its “overweight” rating reissued by equities researchers at Barclays PLC in a research report issued to clients and investors on Monday. They currently have a $42.00 price objective on the stock. Barclays PLC’s target price points to a potential upside of 38.75% from the stock’s previous close.
Several other research analysts have also weighed in on the stock. Credit Agricole SA restated a “sell” rating on shares of Murphy Oil Corp. in a research report on Tuesday, August 16th. Zacks Investment Research lowered shares of Murphy Oil Corp. from a “buy” rating to a “hold” rating in a research report on Thursday, August 11th. JPMorgan Chase & Co. restated a “hold” rating on shares of Murphy Oil Corp. in a research report on Thursday, June 30th. Finally, Raymond James Financial Inc. upgraded shares of Murphy Oil Corp. from an “underperform” rating to a “market perform” rating in a research report on Monday, June 20th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $26.30.
Shares of Murphy Oil Corp. (NYSE:MUR) traded up 2.58% during mid-day trading on Monday, hitting $30.27. 2,007,620 shares of the stock were exchanged. The company has a 50-day moving average of $28.04 and a 200 day moving average of $29.27. The stock’s market cap is $5.21 billion. Murphy Oil Corp. has a one year low of $14.30 and a one year high of $37.48.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/10/murphy-oil-corp-mur-earns-overweight-rating-from-barclays-plc.html
Murphy Oil Corp. (NYSE:MUR) last issued its earnings results on Wednesday, July 27th. The company reported ($0.36) earnings per share for the quarter, topping the consensus estimate of ($0.39) by $0.03. Murphy Oil Corp. had a negative net margin of 106.14% and a negative return on equity of 7.93%. During the same quarter last year, the company earned ($0.48) EPS. On average, equities analysts predict that Murphy Oil Corp. will post ($1.32) earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Monday, November 14th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date is Wednesday, November 9th. Murphy Oil Corp.’s dividend payout ratio is currently -7.24%.
In related news, Director Robert Madison Murphy purchased 36,803 shares of the business’s stock in a transaction on Tuesday, August 9th. The shares were bought at an average price of $24.16 per share, with a total value of $889,160.48. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 6.39% of the company’s stock.
A number of institutional investors have recently bought and sold shares of MUR. Vanguard Group Inc. increased its position in Murphy Oil Corp. by 3.4% in the second quarter. Vanguard Group Inc. now owns 15,366,952 shares of the company’s stock worth $487,900,000 after buying an additional 499,781 shares in the last quarter. FMR LLC increased its position in Murphy Oil Corp. by 0.9% in the second quarter. FMR LLC now owns 12,662,404 shares of the company’s stock worth $402,031,000 after buying an additional 106,862 shares in the last quarter. State Street Corp increased its position in Murphy Oil Corp. by 0.4% in the first quarter. State Street Corp now owns 10,589,606 shares of the company’s stock worth $266,760,000 after buying an additional 45,934 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its position in Murphy Oil Corp. by 2.8% in the second quarter. Hotchkis & Wiley Capital Management LLC now owns 10,274,372 shares of the company’s stock worth $326,211,000 after buying an additional 277,832 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its position in Murphy Oil Corp. by 5.9% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 5,111,370 shares of the company’s stock worth $162,286,000 after buying an additional 286,788 shares in the last quarter. 92.61% of the stock is currently owned by institutional investors.
About Murphy Oil Corp.
Murphy Oil Corporation is an oil and gas exploration and production company. The Company’s exploration and production business explores for and produces crude oil, natural gas and natural gas liquids across the world. The Company’s exploration and production activities are subdivided into four geographic segments, including the United States, Canada, Malaysia and all other countries.
Receive News & Ratings for Murphy Oil Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Murphy Oil Corp. and related companies with MarketBeat.com's FREE daily email newsletter.