Murphy Oil Corp. (MUR) Upgraded by Zacks Investment Research to “Buy”
Murphy Oil Corp. (NYSE:MUR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The firm presently has a $33.00 target price on the stock. Zacks Investment Research’s price objective would indicate a potential upside of 14.90% from the stock’s previous close.
According to Zacks, “Murphy Oil’s systematic investments in exploration and production activities will act as a tailwind. Steady production from its assets is enabling the company to maintain its 2016 production levels despite a substantial reduction in capital expenditure for the year. The company’s entry into the Eagle Ford shale has been successful. Moreover, it is good to see that efficient cost management and systematic asset divestment have allowed the company to lower its expenses. Stringent regulations and a highly competitive industry are headwinds for the company. Operational risks and foreign currency translation issues also pose headwinds.”
Other analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. reissued a “hold” rating on shares of Murphy Oil Corp. in a research note on Thursday, June 30th. Raymond James Financial Inc. raised shares of Murphy Oil Corp. from an “underperform” rating to a “market perform” rating in a research note on Monday, June 20th. Barclays PLC reissued an “overweight” rating and set a $42.00 target price on shares of Murphy Oil Corp. in a research note on Tuesday, August 2nd. Finally, Credit Agricole SA reissued a “sell” rating on shares of Murphy Oil Corp. in a research note on Tuesday, August 16th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $26.80.
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Shares of Murphy Oil Corp. (NYSE:MUR) traded down 1.95% during trading on Wednesday, hitting $28.72. 2,517,237 shares of the stock were exchanged. Murphy Oil Corp. has a one year low of $14.30 and a one year high of $37.48. The stock’s 50 day moving average price is $28.05 and its 200-day moving average price is $29.27. The company’s market cap is $4.95 billion.
Murphy Oil Corp. (NYSE:MUR) last released its earnings results on Wednesday, July 27th. The company reported ($0.36) EPS for the quarter, topping analysts’ consensus estimates 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 earned ($0.48) earnings per share. On average, analysts predict that Murphy Oil Corp. will post ($1.32) EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Monday, November 14th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, November 9th. This represents a $1.00 annualized dividend and a dividend yield of 3.48%. Murphy Oil Corp.’s dividend payout ratio is currently -7.24%.
In related news, Director Robert Madison Murphy acquired 22,594 shares of the firm’s stock in a transaction dated Monday, August 8th. The shares were purchased at an average cost of $21.93 per share, for a total transaction of $495,486.42. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 6.39% of the stock is currently owned by insiders.
Several institutional investors have recently modified their holdings of MUR. UBS Asset Management Americas Inc. raised its position in shares of Murphy Oil Corp. by 10.8% in the first quarter. UBS Asset Management Americas Inc. now owns 688,918 shares of the company’s stock valued at $17,354,000 after buying an additional 67,002 shares in the last quarter. UBS Group AG raised its position in shares of Murphy Oil Corp. by 116.1% in the first quarter. UBS Group AG now owns 129,244 shares of the company’s stock valued at $3,256,000 after buying an additional 933,268 shares in the last quarter. Meeder Asset Management Inc. raised its position in shares of Murphy Oil Corp. by 8,287.7% in the first quarter. Meeder Asset Management Inc. now owns 25,163 shares of the company’s stock valued at $633,000 after buying an additional 24,863 shares in the last quarter. Rafferty Asset Management LLC bought a new position in shares of Murphy Oil Corp. during the first quarter valued at approximately $1,012,000. Finally, State Street Corp raised its position in shares of Murphy Oil Corp. by 0.4% in the first quarter. State Street Corp now owns 10,589,606 shares of the company’s stock valued at $266,760,000 after buying an additional 45,934 shares in the last quarter. Hedge funds and other institutional investors own 92.61% of the company’s stock.
Murphy Oil Corp. Company Profile
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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