Murphy Oil Corp. (MUR) Lowered to “Hold” at Zacks Investment Research
Murphy Oil Corp. (NYSE:MUR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.
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.”
MUR has been the subject of a number of other research reports. Barclays PLC restated an “overweight” rating and set a $42.00 target price on shares of Murphy Oil Corp. in a report on Tuesday, August 2nd. Credit Agricole SA restated a “sell” rating on shares of Murphy Oil Corp. in a report on Tuesday, August 16th. JPMorgan Chase & Co. restated a “hold” rating on shares of Murphy Oil Corp. in a report on Thursday, June 30th. Finally, Raymond James Financial Inc. upgraded Murphy Oil Corp. from an “underperform” rating to a “market perform” rating in a report on Monday, June 20th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $26.80.
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Murphy Oil Corp. (NYSE:MUR) traded down 1.152% during mid-day trading on Tuesday, hitting $27.895. The company’s stock had a trading volume of 968,386 shares. Murphy Oil Corp. has a 12-month low of $14.30 and a 12-month high of $37.48. The company’s market cap is $4.80 billion. The firm’s 50-day moving average is $27.99 and its 200-day moving average is $29.39.
Murphy Oil Corp. (NYSE:MUR) last announced its quarterly earnings results on Wednesday, July 27th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.03. Murphy Oil Corp. had a negative return on equity of 7.93% and a negative net margin of 106.14%. During the same period last year, the business earned ($0.48) earnings per share. Analysts predict that Murphy Oil Corp. will post ($1.32) EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Monday, November 14th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.54%. The ex-dividend date is Wednesday, November 9th. Murphy Oil Corp.’s payout ratio is -7.24%.
In other news, Director Robert Madison Murphy bought 36,803 shares of the business’s stock in a transaction that occurred on Tuesday, August 9th. The shares were purchased at an average cost of $24.16 per share, with a total value of $889,160.48. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 6.39% of the stock is owned by corporate insiders.
Large investors have recently made changes to their positions in the company. Principal Financial Group Inc. increased its stake in shares of Murphy Oil Corp. by 1,602.9% in the second quarter. Principal Financial Group Inc. now owns 4,162,682 shares of the company’s stock valued at $132,165,000 after buying an additional 3,918,233 shares in the last quarter. NN Investment Partners Holdings N.V. increased its stake in shares of Murphy Oil Corp. by 128,811.0% in the second quarter. NN Investment Partners Holdings N.V. now owns 2,059,998 shares of the company’s stock valued at $65,405,000 after buying an additional 2,058,400 shares in the last quarter. AXA increased its stake in shares of Murphy Oil Corp. by 25,163.1% in the second quarter. AXA now owns 1,064,587 shares of the company’s stock valued at $33,801,000 after buying an additional 1,060,373 shares in the last quarter. UBS Group AG increased its stake 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. Finally, Vanguard Group Inc. increased its stake in shares of Murphy Oil Corp. by 3.4% in the second quarter. Vanguard Group Inc. now owns 15,366,952 shares of the company’s stock valued at $487,900,000 after buying an additional 499,781 shares in the last quarter. 92.58% 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.
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