Murphy Oil (MUR) Raised to “Hold” at Zacks Investment Research
Murphy Oil (NYSE:MUR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Monday.
According to Zacks, “Shares of Murphy Oil' have outperformed the industry’s rally in the last six months. Murphy Oil’s systematic capital investments and cost-savings initiatives have paved the way for long-term growth. The new low-cost finding will help the company to further expand onshore and offshore business. However, Murphy Oil operates in a highly competitive oil and gas industry that continues to create challenges for the company. Additionally, with operations outside the U.S., the company is also subject to changes in foreign currency conversion rates, which may adversely impact its earnings from these oilfields that are likely to affect the performance of the company.”
Other equities analysts also recently issued research reports about the stock. Cowen restated a “hold” rating and issued a $30.00 price objective on shares of Murphy Oil in a research note on Sunday, September 17th. Credit Suisse Group assumed coverage on shares of Murphy Oil in a research note on Monday, December 11th. They issued a “neutral” rating and a $30.00 price objective for the company. Finally, Morgan Stanley upped their price objective on shares of Murphy Oil from $23.00 to $26.00 and gave the company an “underweight” rating in a research note on Wednesday, October 18th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $29.91.
Murphy Oil (NYSE:MUR) last issued its earnings results on Wednesday, November 1st. The oil and gas producer reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.11. Murphy Oil had a negative net margin of 4.15% and a negative return on equity of 1.25%. The firm had revenue of $498.31 million during the quarter, compared to the consensus estimate of $460.17 million. During the same quarter in the previous year, the firm posted ($0.18) earnings per share. The company’s revenue was up 2.6% compared to the same quarter last year. equities analysts expect that Murphy Oil will post -0.22 earnings per share for the current fiscal year.
In other news, Director Robert Madison Murphy sold 6,325 shares of the company’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $28.55, for a total value of $180,578.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP John B. Gardner sold 3,783 shares of the company’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $27.84, for a total transaction of $105,318.72. The disclosure for this sale can be found here. Insiders acquired 25,500 shares of company stock valued at $5,100 in the last 90 days. 6.89% of the stock is currently owned by insiders.
Large investors have recently made changes to their positions in the company. Advisor Group Inc. raised its holdings in shares of Murphy Oil by 8.0% in the second quarter. Advisor Group Inc. now owns 4,071 shares of the oil and gas producer’s stock valued at $105,000 after buying an additional 301 shares during the last quarter. Murphy Pohlad Asset Management LLC purchased a new stake in shares of Murphy Oil in the third quarter valued at about $216,000. Commerzbank Aktiengesellschaft FI purchased a new stake in shares of Murphy Oil in the third quarter valued at about $230,000. HighTower Advisors LLC purchased a new stake in shares of Murphy Oil in the second quarter valued at about $236,000. Finally, Shelton Capital Management purchased a new stake in shares of Murphy Oil in the third quarter valued at about $251,000. 96.79% of the stock is owned by institutional investors and hedge funds.
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Murphy Oil 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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