Wells Fargo & Company Increases Murphy Oil (NYSE:MUR) Price Target to $32.00

Murphy Oil (NYSE:MURGet Free Report) had its price target hoisted by equities research analysts at Wells Fargo & Company from $28.00 to $32.00 in a report issued on Tuesday, MarketBeat.com reports. The firm currently has an “equal weight” rating on the oil and gas producer’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 1.93% from the company’s current price.

A number of other equities analysts have also recently commented on MUR. Roth Mkm restated a “neutral” rating on shares of Murphy Oil in a report on Tuesday, January 6th. The Goldman Sachs Group increased their price objective on shares of Murphy Oil from $23.00 to $26.00 and gave the stock a “neutral” rating in a research report on Thursday, January 22nd. Wall Street Zen lowered Murphy Oil from a “hold” rating to a “sell” rating in a research report on Saturday, January 10th. Mizuho increased their price target on Murphy Oil from $33.00 to $35.00 and gave the stock a “neutral” rating in a report on Thursday, January 15th. Finally, Zacks Research lowered Murphy Oil from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 20th. Thirteen equities research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $29.85.

Read Our Latest Stock Report on MUR

Murphy Oil Stock Performance

Shares of NYSE MUR opened at $31.40 on Tuesday. Murphy Oil has a 12-month low of $18.94 and a 12-month high of $35.19. The firm has a 50 day moving average of $31.90 and a 200 day moving average of $28.44. The company has a current ratio of 0.94, a quick ratio of 0.87 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $4.48 billion, a price-to-earnings ratio of 32.04 and a beta of 0.78.

Murphy Oil (NYSE:MURGet Free Report) last announced its quarterly earnings data on Wednesday, January 28th. The oil and gas producer reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.21. The firm had revenue of $613.08 million during the quarter, compared to analysts’ expectations of $650.90 million. Murphy Oil had a net margin of 5.16% and a return on equity of 4.30%. The company’s revenue for the quarter was down 6.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.35 earnings per share. On average, research analysts anticipate that Murphy Oil will post 2.94 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Murphy Oil by 1.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 84,061 shares of the oil and gas producer’s stock worth $2,387,000 after buying an additional 1,419 shares during the last quarter. United Services Automobile Association purchased a new stake in Murphy Oil in the 1st quarter worth approximately $265,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Murphy Oil by 22.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 249,094 shares of the oil and gas producer’s stock worth $7,074,000 after purchasing an additional 45,841 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Murphy Oil by 213.3% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 38,070 shares of the oil and gas producer’s stock valued at $932,000 after purchasing an additional 25,919 shares in the last quarter. Finally, Fifth Third Bancorp lifted its stake in shares of Murphy Oil by 5.8% in the 2nd quarter. Fifth Third Bancorp now owns 19,114 shares of the oil and gas producer’s stock valued at $430,000 after purchasing an additional 1,054 shares during the period. 78.31% of the stock is owned by institutional investors and hedge funds.

Murphy Oil News Roundup

Here are the key news stories impacting Murphy Oil this week:

Murphy Oil Company Profile

(Get Free Report)

Murphy Oil Corporation is an independent upstream oil and gas company engaged in the exploration, development and production of crude oil, natural gas and natural gas liquids. The company’s operations encompass conventional onshore and offshore reservoirs, with an emphasis on liquids-rich properties and deepwater assets. Through a combination of proprietary technologies and strategic joint ventures, Murphy Oil seeks to optimize recovery rates and manage its portfolio to balance long-term resource development with operational flexibility.

Murphy Oil’s exploration and production activities are geographically diversified.

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