Murphy Oil Corporation (MUR) Rating Reiterated by Cowen and Company
Murphy Oil Corporation (NYSE:MUR)‘s stock had its “hold” rating reiterated by equities researchers at Cowen and Company in a research report issued on Sunday. They currently have a $30.00 price target on the oil and gas producer’s stock. Cowen and Company’s price target points to a potential upside of 17.92% from the stock’s current price.
A number of other analysts have also weighed in on the company. Piper Jaffray Companies set a $23.00 target price on Murphy Oil Corporation and gave the stock a “hold” rating in a research note on Friday, August 25th. ValuEngine lowered Murphy Oil Corporation from a “hold” rating to a “sell” rating in a research note on Friday, June 2nd. Barclays PLC lowered Murphy Oil Corporation from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $38.00 to $29.00 in a research note on Tuesday, July 11th. KLR Group started coverage on Murphy Oil Corporation in a research note on Wednesday, May 24th. They issued a “buy” rating and a $41.00 target price on the stock. Finally, Zacks Investment Research upgraded Murphy Oil Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $30.82.
Shares of Murphy Oil Corporation (NYSE:MUR) opened at 25.44 on Friday. The company’s market cap is $4.39 billion. Murphy Oil Corporation has a 12-month low of $22.21 and a 12-month high of $35.19. The company has a 50-day moving average of $24.59 and a 200 day moving average of $25.81.
Murphy Oil Corporation (NYSE:MUR) last released its earnings results on Wednesday, August 2nd. The oil and gas producer reported ($0.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.04. Murphy Oil Corporation had a negative return on equity of 1.76% and a negative net margin of 1.83%. The business had revenue of $474.50 million for the quarter, compared to analyst estimates of $495.03 million. During the same quarter last year, the firm posted ($0.36) earnings per share. On average, equities research analysts expect that Murphy Oil Corporation will post ($0.29) EPS for the current year.
In other news, VP Allan J. Misner sold 3,795 shares of the stock in a transaction on Monday, August 7th. The stock was sold at an average price of $26.05, for a total transaction of $98,859.75. Following the transaction, the vice president now owns 100 shares of the company’s stock, valued at approximately $2,605. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Kelli M. Hammock sold 4,000 shares of the stock in a transaction on Friday, August 11th. The stock was sold at an average price of $25.63, for a total value of $102,520.00. Following the transaction, the insider now directly owns 14,298 shares in the company, valued at approximately $366,457.74. The disclosure for this sale can be found here. 6.89% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently bought and sold shares of MUR. Advisor Group Inc. grew its position in shares of Murphy Oil Corporation by 8.0% during the 2nd quarter. Advisor Group Inc. now owns 4,071 shares of the oil and gas producer’s stock worth $105,000 after buying an additional 301 shares in the last quarter. Ameritas Investment Partners Inc. bought a new position in shares of Murphy Oil Corporation during the 1st quarter worth $111,000. Daiwa Securities Group Inc. grew its position in shares of Murphy Oil Corporation by 24.6% during the 2nd quarter. Daiwa Securities Group Inc. now owns 4,860 shares of the oil and gas producer’s stock worth $125,000 after buying an additional 960 shares in the last quarter. Koch Industries Inc. bought a new position in shares of Murphy Oil Corporation during the 1st quarter worth $208,000. Finally, ING Groep NV grew its position in shares of Murphy Oil Corporation by 0.5% during the 2nd quarter. ING Groep NV now owns 8,313 shares of the oil and gas producer’s stock worth $213,000 after buying an additional 39 shares in the last quarter. 97.68% of the stock is currently owned by institutional investors and hedge funds.
Murphy Oil Corporation Company Profile
Murphy Oil Corporation (Murphy) 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. Its exploration and production activities are subdivided into four geographic segments: the United States, Canada, Malaysia and all other countries.
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