Murphy Oil (NYSE:MUR – Get Note) saw its target price raised by the Goldman Sachs Group from $34.00 to $38.00 in a research report released on Monday morning, Stock Target Advisor reports. The brokerage currently has a neutral rating on shares of the oil and gas producer.
The MUR has been the subject of several other reports. Piper Sandler lowered its price target on Murphy Oil from $49.00 to $47.00 and set an overweight rating for the company in a research note on Friday, July 22. Morgan Stanley lowered its price target on Murphy Oil from $53.00 to $49.00 and set an equal weight rating for the company in a Monday, June 6 research report. Mizuho cut its price target on Murphy Oil from $59.00 to $51.00 and set a buy rating on the stock in a Tuesday, July 19 report. JPMorgan Chase & Co. downgraded Murphy Oil from an overweight rating to a neutral rating and set a price target of $51.00 for the stock. in a report on Thursday, May 5. Finally, StockNews.com upgraded Murphy Oil from a hold rating to a buy rating in a Friday, August 5 report. Four investment analysts gave the stock a hold rating and five gave the stock a buy rating. Based on data from MarketBeat, the company currently has a Moderate Buy average rating and a consensus price target of $46.50.
Murphy Oil Inventory Up 1.6%
Shares of NYSE MUR opened at $36.68 on Monday. The stock has a market capitalization of $5.70 billion, a PE ratio of 11.18 and a beta of 2.56. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt ratio of 0.51. Murphy Oil has a 52-week low of $19.44 and a 52-week high of $45.79. The company has a 50-day moving average price of $32.49 and a 200-day moving average price of $36.19.
Murphy Oil Inc (NYSE:MUR – Get Rating) last released quarterly earnings data on Thursday, August 4. The oil and gas producer reported earnings per share of $1.93 for the quarter, beating analysts’ consensus estimate of $1.56 by $0.37. The company posted revenue of $1.10 billion in the quarter, compared to analysts’ expectations of $880.87 million. Murphy Oil had a return on equity of 12.07% and a net margin of 17.00%. The company’s revenue for the quarter increased 100.3% on an annual basis. During the same period last year, the company achieved EPS of $0.59. Equity research analysts expect Murphy Oil to post earnings per share of 5.67 for the current year.
Murphy Oil increases its dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 1. Shareholders of record on Monday, August 15 will receive a dividend of $0.25 per share. This represents a dividend of $1.00 on an annualized basis and a dividend yield of 2.73%. This is a positive change from Murphy Oil’s previous quarterly dividend of $0.18. The ex-dividend date is Friday, August 12. Murphy Oil’s payout ratio is currently 30.49%.
Insider Activity at Murphy Oil
Separately, director Lawrence R. Dickerson sold 4,614 shares of the company in a transaction dated Tuesday, June 7. The stock was sold at an average price of $43.70, for a total value of $201,631.80. Following the completion of the sale, the director now directly owns 43,626 shares of the company, valued at $1,906,456.20. The sale was disclosed in a filing with the SEC, accessible via this link. Separately, director Lawrence R. Dickerson sold 4,614 shares of the company in a transaction dated Tuesday, June 7. The stock was sold at an average price of $43.70, for a total value of $201,631.80. Following the completion of the sale, the director now directly owns 43,626 shares of the company, valued at $1,906,456.20. The sale was disclosed in a filing with the SEC, accessible via this link. Additionally, CEO Roger W. Jenkins sold 225,000 shares of the company in a trade that took place on Tuesday, May 31. The shares were sold at an average price of $43.06, for a total value of $9,688,500.00. As a result of the transaction, the CEO now directly owns 814,664 shares of the company, valued at $35,079,431.84. The disclosure of this sale can be found here. Insiders sold a total of 285,282 shares of the company valued at $12,316,194 over the past three months. 6.20% of the shares are held by insiders.
Hedge funds weigh on Murphy Oil
Several institutional investors have recently changed their positions in MUR. Lazard Asset Management LLC bought a new position in shares of Murphy Oil during the second quarter worth approximately $25,000. Barrow Hanley Mewhinney & Strauss LLC bought a new position in shares of Murphy Oil during the fourth quarter, valued at around $26,000. USA Financial Portformulas Corp acquired a new position in shares of Murphy Oil during the fourth quarter worth approximately $35,000. Rockefeller Capital Management LP increased its position in Murphy Oil shares by 857.8% during the fourth quarter. Rockefeller Capital Management LP now owns 1,657 shares of the oil and gas producer worth $43,000 after buying 1,484 additional shares during the period. Finally, Quent Capital LLC increased its position in Murphy Oil shares by 36.8% during the first quarter. Quent Capital LLC now owns 1,127 shares of the oil and gas producer worth $46,000 after purchasing 303 additional shares during the period. 76.37% of the shares are held by institutional investors.
About Murphy Oil
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Murphy Oil Corporation, together with its subsidiaries, operates as an oil and natural gas exploration and production company in the United States, Canada and internationally. It explores for and produces crude oil, natural gas and natural gas liquids. The company was previously known as Murphy Corporation and changed its name to Murphy Oil Corporation in 1964.
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