Murphy Oil Corp.’s (MUR) Overweight Rating Reiterated at Barclays PLC
Murphy Oil Corp. (NYSE:MUR)‘s stock had its “overweight” rating reiterated by Barclays PLC in a report released on Monday. They currently have a $42.00 target price on the stock. Barclays PLC’s target price points to a potential upside of 38.75% from the stock’s previous close.
MUR has been the topic of several other research reports. Raymond James Financial Inc. upgraded shares of Murphy Oil Corp. from an “underperform” rating to a “market perform” rating in a research note on Monday, June 20th. Zacks Investment Research cut shares of Murphy Oil Corp. from a “buy” rating to a “hold” rating in a research note on Thursday, August 11th. JPMorgan Chase & Co. restated a “hold” rating on shares of Murphy Oil Corp. in a research note on Thursday, June 30th. Finally, Credit Agricole SA restated a “sell” rating on shares of Murphy Oil Corp. in a research note on Tuesday, August 16th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the stock. The stock 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 midday trading on Monday, reaching $30.27. 2,007,620 shares of the company’s stock traded hands. The stock’s 50-day moving average price is $28.04 and its 200 day moving average price is $29.27. Murphy Oil Corp. has a one year low of $14.30 and a one year high of $37.48. The firm’s market capitalization is $5.21 billion.
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Murphy Oil Corp. (NYSE:MUR) last posted its earnings results on Wednesday, July 27th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 in the previous year, the company posted ($0.48) EPS. On average, equities research analysts expect that Murphy Oil Corp. will post ($1.32) earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Monday, November 14th will be issued 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 (DPR) is currently -7.24%.
In related news, Director Robert Madison Murphy acquired 22,594 shares of the business’s stock in a transaction on Monday, August 8th. The stock was acquired at an average cost of $21.93 per share, with a total value of $495,486.42. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 6.39% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Euclid Advisors LLC bought a new stake in shares of Murphy Oil Corp. during the second quarter worth about $104,000. Advisor Group Inc. bought a new stake in shares of Murphy Oil Corp. during the second quarter worth about $116,000. Acadian Asset Management LLC bought a new stake in shares of Murphy Oil Corp. during the second quarter worth about $132,000. I.G. Investment Management LTD. bought a new stake in shares of Murphy Oil Corp. during the second quarter worth about $159,000. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new stake in shares of Murphy Oil Corp. during the second quarter worth about $208,000. 92.61% of the stock is owned by institutional investors and hedge funds.
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.
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