Murphy Oil Corp. (MUR) Rating 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 topic of several other reports. JPMorgan Chase & Co. reissued a “hold” rating on shares of Murphy Oil Corp. in a research report on Thursday, June 30th. Barclays PLC reissued an “overweight” rating and set a $42.00 price target on shares of Murphy Oil Corp. in a research report on Monday, October 10th. Raymond James Financial Inc. raised Murphy Oil Corp. from an “underperform” rating to a “market perform” rating in a research report on Monday, June 20th. Finally, Credit Agricole SA reissued a “sell” rating on shares of Murphy Oil Corp. in a research report on Tuesday, August 16th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $26.80.
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Murphy Oil Corp. (NYSE:MUR) traded down 0.07% during midday trading on Tuesday, reaching $28.20. The company’s stock had a trading volume of 2,095,594 shares. The company’s 50-day moving average price is $27.99 and its 200-day moving average price is $29.38. The company’s market capitalization is $4.86 billion. Murphy Oil Corp. has a 1-year low of $14.30 and a 1-year high of $37.48.
Murphy Oil Corp. (NYSE:MUR) last announced its earnings results on Wednesday, July 27th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate 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 posted ($0.48) EPS. On average, analysts predict that Murphy Oil Corp. will post ($1.32) earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Monday, November 14th will be paid a $0.25 dividend. The ex-dividend date is Wednesday, November 9th. This represents a $1.00 annualized dividend and a dividend yield of 3.55%. Murphy Oil Corp.’s payout ratio is -7.24%.
In other Murphy Oil Corp. news, Director Robert Madison Murphy purchased 36,803 shares of the firm’s stock in a transaction dated Tuesday, August 9th. The stock was bought at an average price of $24.16 per share, with a total value of $889,160.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 6.39% of the stock is owned by insiders.
Several hedge funds have recently made changes to their positions in the stock. Principal Financial Group Inc. raised 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 during the period. NN Investment Partners Holdings N.V. raised 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 during the period. AXA raised 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 during the period. UBS Group AG raised 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 during the period. Finally, Vanguard Group Inc. raised 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 during the period. Institutional investors and hedge funds own 92.58% of the company’s stock.
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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