Murphy Oil (MUR) Given a $34.00 Price Target at Cowen

Murphy Oil (NYSE:MUR) has been given a $34.00 price objective by analysts at Cowen in a note issued to investors on Thursday. The brokerage currently has a “hold” rating on the oil and gas producer’s stock. Cowen’s price objective indicates a potential downside of 1.99% from the company’s current price.

A number of other analysts also recently weighed in on MUR. Zacks Investment Research upgraded shares of Murphy Oil from a “sell” rating to a “hold” rating in a research report on Monday. Morgan Stanley increased their price target on shares of Murphy Oil from $23.00 to $26.00 and gave the company an “underweight” rating in a research report on Wednesday, October 18th. Finally, Credit Suisse Group assumed coverage on shares of Murphy Oil in a research report on Monday, December 11th. They issued a “neutral” rating and a $30.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the stock. Murphy Oil has a consensus rating of “Hold” and an average target price of $30.27.

Murphy Oil (MUR) traded down $0.26 during trading on Thursday, reaching $34.69. 1,948,500 shares of the company’s stock were exchanged, compared to its average volume of 2,215,658. The company has a current ratio of 1.74, a quick ratio of 1.60 and a debt-to-equity ratio of 0.58. Murphy Oil has a 52 week low of $22.21 and a 52 week high of $35.16. The firm has a market cap of $5,990.00, a P/E ratio of -66.71 and a beta of 2.29.

Murphy Oil (NYSE:MUR) last released its earnings results on Wednesday, November 1st. The oil and gas producer reported ($0.03) earnings per share (EPS) for the quarter, beating 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 company had revenue of $498.31 million for the quarter, compared to the consensus estimate of $460.17 million. During the same period in the prior year, the company posted ($0.18) EPS. The company’s revenue was up 2.6% compared to the same quarter last year. research analysts expect that Murphy Oil will post -0.22 earnings per share for the current fiscal year.

In other Murphy Oil news, Director Robert Madison Murphy sold 6,325 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $28.55, for a total transaction of $180,578.75. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP John B. Gardner sold 3,783 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The stock was 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 have acquired a total of 25,500 shares of company stock worth $5,100 over the last 90 days. Corporate insiders own 6.89% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. Ameriprise Financial Inc. grew its stake in shares of Murphy Oil by 407.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,057,047 shares of the oil and gas producer’s stock worth $28,073,000 after acquiring an additional 848,930 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Murphy Oil by 171.4% during the 3rd quarter. Principal Financial Group Inc. now owns 1,018,113 shares of the oil and gas producer’s stock worth $27,041,000 after acquiring an additional 642,930 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Murphy Oil by 19.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,326,099 shares of the oil and gas producer’s stock worth $88,342,000 after acquiring an additional 541,618 shares in the last quarter. FMR LLC grew its stake in shares of Murphy Oil by 4.7% during the 2nd quarter. FMR LLC now owns 11,806,976 shares of the oil and gas producer’s stock worth $302,613,000 after acquiring an additional 529,291 shares in the last quarter. Finally, State Street Corp grew its stake in shares of Murphy Oil by 4.6% during the 2nd quarter. State Street Corp now owns 11,373,872 shares of the oil and gas producer’s stock worth $291,513,000 after acquiring an additional 503,190 shares in the last quarter. Hedge funds and other institutional investors own 96.79% of the company’s stock.

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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.

Analyst Recommendations for Murphy Oil (NYSE:MUR)

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