Credit Suisse Group started coverage on shares of Murphy Oil (NYSE:MUR) in a research report issued to clients and investors on Monday, December 11th, MarketBeat reports. The brokerage set a “neutral” rating and a $30.00 price target on the oil and gas producer’s stock. Credit Suisse Group’s target price points to a potential downside of 3.72% from the stock’s current price.
Other research analysts have also recently issued reports about the stock. Morgan Stanley increased their price objective on shares of Murphy Oil from $23.00 to $26.00 and gave the company an “underweight” rating in a report on Wednesday, October 18th. Zacks Investment Research downgraded shares of Murphy Oil from a “buy” rating to a “hold” rating in a research report on Monday, October 30th. Cowen restated a “hold” rating and issued a $30.00 price target on shares of Murphy Oil in a research report on Sunday, September 17th. BidaskClub downgraded shares of Murphy Oil from a “hold” rating to a “sell” rating in a research report on Thursday, August 17th. Finally, ValuEngine downgraded shares of Murphy Oil from a “hold” rating to a “sell” rating in a research report on Wednesday, August 23rd. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $29.91.
Shares of Murphy Oil (NYSE MUR) traded up $0.58 during trading on Monday, hitting $31.16. 1,310,000 shares of the stock were exchanged, compared to its average volume of 2,390,000. The firm has a market cap of $5,380.00, a price-to-earnings ratio of -59.92 and a beta of 2.29. 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 1-year low of $22.21 and a 1-year high of $33.04.
In other Murphy Oil news, VP John B. Gardner sold 3,783 shares of the stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $27.84, for a total value of $105,318.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert Madison Murphy sold 6,325 shares of the stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $28.55, for a total transaction of $180,578.75. The disclosure for this sale can be found here. In the last quarter, insiders acquired 76,500 shares of company stock valued at $17,850. Insiders own 6.89% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the business. Advisor Group Inc. lifted its position in Murphy Oil by 8.0% in the 2nd quarter. Advisor Group Inc. now owns 4,071 shares of the oil and gas producer’s stock worth $105,000 after buying an additional 301 shares in the last quarter. Daiwa Securities Group Inc. increased its holdings in shares of Murphy Oil by 24.6% in the second quarter. Daiwa Securities Group Inc. now owns 4,860 shares of the oil and gas producer’s stock valued at $125,000 after purchasing an additional 960 shares during the last quarter. Murphy Pohlad Asset Management LLC acquired a new position in shares of Murphy Oil in the third quarter valued at $216,000. Commerzbank Aktiengesellschaft FI acquired a new position in shares of Murphy Oil in the third quarter valued at $230,000. Finally, Municipal Employees Retirement System of Michigan increased its holdings in shares of Murphy Oil by 75.2% in the second quarter. Municipal Employees Retirement System of Michigan now owns 9,060 shares of the oil and gas producer’s stock valued at $233,000 after purchasing an additional 3,890 shares during the last quarter. Institutional investors own 96.79% of the company’s stock.
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About Murphy Oil
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.
