Wells Fargo & Company Increases Murphy Oil (NYSE:MUR) Price Target to $38.00

Murphy Oil (NYSE:MUR) had its price target lifted by Wells Fargo & Company from $32.00 to $38.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the oil and gas producer’s stock. Wells Fargo & Company‘s target price indicates a potential downside of 9.56% from the stock’s previous close.

Other equities analysts also recently issued research reports about the stock. UBS Group lifted their price target on shares of Murphy Oil from $30.00 to $34.00 and gave the company a “neutral” rating in a report on Thursday, March 5th. Scotiabank restated a “sector perform” rating and set a $31.00 target price on shares of Murphy Oil in a research note on Friday, January 16th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Murphy Oil in a report on Tuesday, February 3rd. Barclays upgraded Murphy Oil from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $29.00 to $33.00 in a research note on Friday, March 13th. Finally, Wall Street Zen raised Murphy Oil from a “sell” rating to a “hold” rating in a report on Sunday, March 8th. Two equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $32.36.

Murphy Oil Stock Up 0.6%

Shares of Murphy Oil stock opened at $42.02 on Thursday. Murphy Oil has a twelve month low of $18.94 and a twelve month high of $42.51. The company has a quick ratio of 0.71, a current ratio of 0.77 and a debt-to-equity ratio of 0.26. The company’s 50 day moving average is $33.89 and its 200 day moving average is $31.31. The company has a market cap of $6.00 billion, a price-to-earnings ratio of 58.36 and a beta of 0.72.

Murphy Oil (NYSE:MUR) last announced its earnings results on Wednesday, January 28th. The oil and gas producer reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.21. The business had revenue of $613.08 million for the quarter, compared to analysts’ expectations of $650.90 million. Murphy Oil had a return on equity of 3.73% and a net margin of 3.83%.The business’s revenue for the quarter was down 6.9% on a year-over-year basis. During the same period last year, the firm posted $0.35 earnings per share. Research analysts anticipate that Murphy Oil will post 2.94 EPS for the current year.

Insiders Place Their Bets

In other news, SVP Daniel R. Hanchera sold 47,320 shares of the business’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $33.79, for a total transaction of $1,598,942.80. Following the transaction, the senior vice president owned 36,166 shares of the company’s stock, valued at approximately $1,222,049.14. The trade was a 56.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 6.52% of the stock is owned by insiders.

Institutional Investors Weigh In On Murphy Oil

Institutional investors and hedge funds have recently modified their holdings of the business. Parallel Advisors LLC lifted its holdings in Murphy Oil by 3.7% during the 4th quarter. Parallel Advisors LLC now owns 11,091 shares of the oil and gas producer’s stock valued at $347,000 after buying an additional 400 shares in the last quarter. Cetera Investment Advisers grew its stake in Murphy Oil by 0.9% in the 4th quarter. Cetera Investment Advisers now owns 45,662 shares of the oil and gas producer’s stock worth $1,427,000 after acquiring an additional 401 shares in the last quarter. Empowered Funds LLC increased its position in shares of Murphy Oil by 0.9% during the fourth quarter. Empowered Funds LLC now owns 49,066 shares of the oil and gas producer’s stock worth $1,533,000 after acquiring an additional 418 shares during the period. Impact Capital Partners LLC increased its position in shares of Murphy Oil by 2.9% during the fourth quarter. Impact Capital Partners LLC now owns 15,143 shares of the oil and gas producer’s stock worth $473,000 after acquiring an additional 420 shares during the period. Finally, Park Avenue Securities LLC raised its stake in shares of Murphy Oil by 3.1% during the fourth quarter. Park Avenue Securities LLC now owns 13,893 shares of the oil and gas producer’s stock valued at $434,000 after acquiring an additional 423 shares in the last quarter. 78.31% of the stock is owned by institutional investors.

Murphy Oil Company Profile

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.