Zacks Investment Research upgraded shares of Murphy Oil (NYSE:MUR) from a sell rating to a hold rating in a research report sent to investors on Monday.
According to Zacks, “Shares of Murphy Oil' have outperformed the industry’s rally in the last six months. Murphy Oil’s systematic capital investments and cost-savings initiatives have paved the way for long-term growth. The new low-cost finding will help the company to further expand onshore and offshore business. However, Murphy Oil operates in a highly competitive oil and gas industry that continues to create challenges for the company. Additionally, with operations outside the U.S., the company is also subject to changes in foreign currency conversion rates, which may adversely impact its earnings from these oilfields that are likely to affect the performance of the company.”
Several other equities analysts have also recently commented on MUR. Morgan Stanley boosted their target price on Murphy Oil from $23.00 to $26.00 and gave the stock an underweight rating in a research report on Wednesday, October 18th. Cowen restated a hold rating and set a $30.00 target price on shares of Murphy Oil in a research report on Sunday, September 17th. Finally, Credit Suisse Group began coverage on Murphy Oil in a research report on Monday, December 11th. They set a neutral rating and a $30.00 target price for the company. 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. Murphy Oil currently has an average rating of Hold and an average price target of $29.91.
Murphy Oil (MUR) traded up $0.34 during trading on Monday, reaching $34.61. The company had a trading volume of 1,889,000 shares, compared to its average volume of 2,297,389. Murphy Oil has a twelve month low of $22.21 and a twelve month high of $35.00. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.60 and a current ratio of 1.74. The stock has a market capitalization of $5,880.00, a PE ratio of -66.56 and a beta of 2.29.
Murphy Oil (NYSE:MUR) last posted its earnings results on Wednesday, November 1st. The oil and gas producer reported ($0.03) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.14) by $0.11. Murphy Oil had a negative return on equity of 1.25% and a negative net margin of 4.15%. The business had revenue of $498.31 million during the quarter, compared to analysts’ expectations of $460.17 million. During the same period in the previous year, the business earned ($0.18) earnings per share. The firm’s revenue was up 2.6% on a year-over-year basis. equities research analysts predict that Murphy Oil will post -0.22 EPS for the current year.
In other news, VP John B. Gardner sold 3,783 shares of the company’s stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $27.84, for a total value of $105,318.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert Madison Murphy sold 6,325 shares of the business’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 disclosure for this sale can be found here. Insiders bought a total of 25,500 shares of company stock valued at $5,100 over the last quarter. Company insiders own 6.89% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. lifted its stake in shares of Murphy Oil by 2.2% in the 2nd quarter. BlackRock Inc. now owns 12,162,743 shares of the oil and gas producer’s stock valued at $311,730,000 after acquiring an additional 265,161 shares during the last quarter. FMR LLC lifted its stake in shares of Murphy Oil by 4.7% in the 2nd quarter. FMR LLC now owns 11,806,976 shares of the oil and gas producer’s stock valued at $302,613,000 after acquiring an additional 529,291 shares during the last quarter. State Street Corp lifted its stake in shares of Murphy Oil by 4.6% in the 2nd quarter. State Street Corp now owns 11,373,872 shares of the oil and gas producer’s stock valued at $291,513,000 after acquiring an additional 503,190 shares during the last quarter. Pzena Investment Management LLC lifted its stake in shares of Murphy Oil by 1.0% in the 3rd 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 acquiring an additional 98,500 shares during the last quarter. Finally, Wedge Capital Management L L P NC lifted its stake in shares of Murphy Oil by 4.4% in the 3rd 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 acquiring an additional 260,467 shares during the last quarter. 96.79% of the stock is owned by institutional investors.
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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.
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