Murphy Oil (MUR) Price Target Increased to $33.00 by Analysts at Morgan Stanley

Murphy Oil (NYSE:MUR) had its price target raised by investment analysts at Morgan Stanley from $26.00 to $33.00 in a note issued to investors on Wednesday. The firm currently has an “underweight” rating on the oil and gas producer’s stock. Morgan Stanley’s target price would suggest a potential downside of 5.15% from the company’s previous close.

Other equities analysts have also recently issued research reports about the stock. Zacks Investment Research cut shares of Murphy Oil from a “buy” rating to a “hold” rating in a research report on Monday, October 30th. Credit Suisse Group initiated coverage on shares of Murphy Oil in a report on Monday, December 11th. They issued a “neutral” rating and a $30.00 target price on the stock. Stephens set a $37.00 target price on shares of Murphy Oil and gave the stock a “buy” rating in a report on Monday, January 22nd. Finally, Cowen set a $34.00 target price on shares of Murphy Oil and gave the stock a “hold” rating in a report on Thursday, January 18th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $31.42.

Shares of Murphy Oil (NYSE:MUR) traded up $0.58 during mid-day trading on Wednesday, hitting $34.79. 1,420,000 shares of the stock traded hands, compared to its average volume of 1,960,000. The company has a quick ratio of 1.60, a current ratio of 1.74 and a debt-to-equity ratio of 0.58. Murphy Oil has a twelve month low of $22.21 and a twelve month high of $35.16. The company has a market capitalization of $6,000.00, a PE ratio of -66.90 and a beta of 2.29.

Murphy Oil (NYSE:MUR) last issued its quarterly earnings results on Wednesday, November 1st. The oil and gas producer reported ($0.03) EPS for the quarter, topping the consensus estimate 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 business had revenue of $498.31 million for the quarter, compared to analysts’ expectations of $460.17 million. During the same quarter last year, the company posted ($0.18) earnings per share. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. equities research analysts expect that Murphy Oil will post -0.23 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 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 SEC, which is available at this link. Also, VP John B. Gardner sold 3,783 shares of the firm’s stock in a transaction dated 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. Company insiders own 6.89% of the company’s stock.

Several large investors have recently made changes to their positions in the business. BlackRock Inc. increased its stake in shares of Murphy Oil by 2.2% in the second quarter. BlackRock Inc. now owns 12,162,743 shares of the oil and gas producer’s stock valued at $311,730,000 after purchasing an additional 265,161 shares during the period. FMR LLC increased its stake in shares of Murphy Oil by 4.7% in the second quarter. FMR LLC now owns 11,806,976 shares of the oil and gas producer’s stock valued at $302,613,000 after purchasing an additional 529,291 shares during the period. State Street Corp increased its stake in shares of Murphy Oil by 4.6% in the second quarter. State Street Corp now owns 11,373,872 shares of the oil and gas producer’s stock valued at $291,513,000 after purchasing an additional 503,190 shares during the period. Pzena Investment Management LLC increased its stake in shares of Murphy Oil by 1.0% in the third quarter. Pzena Investment Management LLC now owns 9,609,282 shares of the oil and gas producer’s stock valued at $255,223,000 after purchasing an additional 98,500 shares during the period. Finally, Wedge Capital Management L L P NC increased its stake in shares of Murphy Oil by 4.4% in the third quarter. Wedge Capital Management L L P NC now owns 6,207,620 shares of the oil and gas producer’s stock valued at $164,874,000 after purchasing an additional 260,467 shares during the period. Institutional investors own 96.82% 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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