MKM Partners initiated coverage on shares of Murphy Oil (NYSE:MUR) in a research note published on Wednesday morning, MarketBeat.com reports. The brokerage issued a buy rating and a $44.00 price target on the oil and gas producer’s stock.
Other analysts also recently issued research reports about the stock. Credit Suisse Group raised their price objective on shares of Murphy Oil from $37.00 to $39.00 and gave the stock a neutral rating in a research report on Thursday, October 11th. Zacks Investment Research raised shares of Murphy Oil from a hold rating to a buy rating and set a $38.00 price objective for the company in a research report on Tuesday, October 23rd. TheStreet raised shares of Murphy Oil from a c+ rating to a b- rating in a research report on Thursday, November 8th. Piper Jaffray Companies reaffirmed a neutral rating on shares of Murphy Oil in a research report on Friday, September 28th. Finally, Morgan Stanley reduced their price objective on shares of Murphy Oil from $26.00 to $24.00 and set a sell rating for the company in a research report on Thursday, August 16th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $36.50.
Shares of MUR stock traded down $0.91 during trading hours on Wednesday, hitting $30.07. 310,693 shares of the company were exchanged, compared to its average volume of 2,231,141. The company has a market cap of $5.36 billion, a price-to-earnings ratio of -231.31 and a beta of 2.09. Murphy Oil has a fifty-two week low of $24.39 and a fifty-two week high of $36.53. The company has a quick ratio of 1.47, a current ratio of 1.58 and a debt-to-equity ratio of 0.61.
Murphy Oil (NYSE:MUR) last announced its quarterly earnings data on Wednesday, November 7th. The oil and gas producer reported $0.35 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.01). The company had revenue of $674.80 million for the quarter, compared to analyst estimates of $633.20 million. Murphy Oil had a return on equity of 3.77% and a net margin of 0.86%. The business’s quarterly revenue was up 35.4% compared to the same quarter last year. During the same period last year, the business earned ($0.38) EPS. Analysts anticipate that Murphy Oil will post 1.49 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, December 3rd. Investors of record on Monday, November 12th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.33%. The ex-dividend date was Thursday, November 8th. Murphy Oil’s payout ratio is currently -769.23%.
In related news, insider Kelli M. Hammock sold 2,595 shares of Murphy Oil stock in a transaction on Friday, November 16th. The shares were sold at an average price of $31.56, for a total value of $81,898.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Claiborne P. Deming purchased 10,000 shares of Murphy Oil stock in a transaction that occurred on Monday, November 19th. The stock was acquired at an average cost of $31.60 per share, with a total value of $316,000.00. The disclosure for this purchase can be found here. Company insiders own 6.89% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of MUR. Capital International Investors acquired a new stake in Murphy Oil in the 3rd quarter valued at $430,075,000. FMR LLC boosted its holdings in Murphy Oil by 7.2% during the 2nd quarter. FMR LLC now owns 15,868,414 shares of the oil and gas producer’s stock worth $535,876,000 after acquiring an additional 1,065,018 shares during the last quarter. Marshall Wace LLP boosted its holdings in Murphy Oil by 5,302.0% during the 2nd quarter. Marshall Wace LLP now owns 824,190 shares of the oil and gas producer’s stock worth $27,833,000 after acquiring an additional 808,933 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Murphy Oil by 4.4% during the 3rd quarter. Vanguard Group Inc. now owns 16,743,205 shares of the oil and gas producer’s stock worth $558,218,000 after acquiring an additional 707,445 shares during the last quarter. Finally, Wedge Capital Management L L P NC boosted its holdings in Murphy Oil by 11.7% during the 3rd quarter. Wedge Capital Management L L P NC now owns 5,310,331 shares of the oil and gas producer’s stock worth $177,046,000 after acquiring an additional 554,530 shares during the last quarter. 86.84% of the stock is owned by institutional investors and hedge funds.
Murphy Oil Company Profile
Murphy Oil Corporation operates as an oil and gas exploration and production company worldwide. It explores for and produces crude oil, natural gas, and natural gas liquids. The company was formerly known as Murphy Corporation and changed its name to Murphy Oil Corporation in 1964. Murphy Oil Corporation was founded in 1950 and is headquartered in El Dorado, Arkansas.
Read More: Compound Annual Growth Rate (CAGR)
Receive News & Ratings for Murphy Oil Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Murphy Oil and related companies with MarketBeat.com's FREE daily email newsletter.