Murphy Oil (NYSE:MUR) Given New $45.00 Price Target at Morgan Stanley

Murphy Oil (NYSE:MURGet Rating) had its target price reduced by Morgan Stanley from $47.00 to $45.00 in a report issued on Tuesday morning, Benzinga reports. Morgan Stanley currently has an equal weight rating on the oil and gas producer’s stock.

A number of other analysts also recently issued reports on MUR. Jefferies Financial Group initiated coverage on Murphy Oil in a research report on Wednesday, October 19th. They issued a hold rating and a $46.00 target price on the stock. Mizuho reaffirmed a buy rating and issued a $51.00 target price (down previously from $53.00) on shares of Murphy Oil in a research report on Tuesday, January 10th. JPMorgan Chase & Co. raised Murphy Oil from a neutral rating to an overweight rating and set a $56.00 price target on the stock in a research report on Monday, December 5th. Wells Fargo & Company lowered their price target on Murphy Oil from $48.00 to $44.00 and set an equal weight rating on the stock in a research report on Tuesday, January 10th. Finally, The Goldman Sachs Group boosted their price target on Murphy Oil from $44.00 to $50.00 and gave the stock a neutral rating in a research report on Wednesday, November 23rd. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of $49.67.

Murphy Oil Stock Performance

MUR opened at $42.76 on Tuesday. The business’s 50-day moving average price is $43.48 and its two-hundred day moving average price is $40.49. Murphy Oil has a 1 year low of $25.97 and a 1 year high of $51.28. The company has a market capitalization of $6.65 billion, a price-to-earnings ratio of 7.20 and a beta of 2.41. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.78 and a quick ratio of 0.74.

Murphy Oil (NYSE:MURGet Rating) last released its earnings results on Thursday, November 3rd. The oil and gas producer reported $1.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.56 by $0.28. The business had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $930.51 million. Murphy Oil had a return on equity of 17.20% and a net margin of 25.27%. Equities analysts expect that Murphy Oil will post 5.9 EPS for the current fiscal year.

Insider Transactions at Murphy Oil

In related news, VP Paul D. Vaughan sold 1,254 shares of the business’s stock in a transaction that occurred on Wednesday, November 9th. The stock was sold at an average price of $46.34, for a total value of $58,110.36. Following the completion of the sale, the vice president now directly owns 9,910 shares in the company, valued at $459,229.40. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, CFO Thomas J. Mireles sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 15th. The stock was sold at an average price of $49.06, for a total value of $735,900.00. Following the completion of the sale, the chief financial officer now directly owns 39,894 shares in the company, valued at $1,957,199.64. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Paul D. Vaughan sold 1,254 shares of the business’s stock in a transaction that occurred on Wednesday, November 9th. The shares were sold at an average price of $46.34, for a total value of $58,110.36. Following the completion of the sale, the vice president now owns 9,910 shares of the company’s stock, valued at $459,229.40. The disclosure for this sale can be found here. Insiders sold a total of 210,754 shares of company stock worth $10,615,495 over the last quarter. Company insiders own 6.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC raised its position in Murphy Oil by 13.1% during the third quarter. Exchange Traded Concepts LLC now owns 2,193 shares of the oil and gas producer’s stock valued at $77,000 after purchasing an additional 254 shares in the last quarter. IFP Advisors Inc increased its holdings in shares of Murphy Oil by 6.0% during the third quarter. IFP Advisors Inc now owns 5,195 shares of the oil and gas producer’s stock worth $165,000 after buying an additional 295 shares in the last quarter. Xponance Inc. increased its holdings in shares of Murphy Oil by 1.4% during the third quarter. Xponance Inc. now owns 22,831 shares of the oil and gas producer’s stock worth $803,000 after buying an additional 319 shares in the last quarter. Northwestern Mutual Investment Management Company LLC increased its holdings in shares of Murphy Oil by 1.4% during the second quarter. Northwestern Mutual Investment Management Company LLC now owns 24,446 shares of the oil and gas producer’s stock worth $738,000 after buying an additional 331 shares in the last quarter. Finally, Profund Advisors LLC increased its holdings in shares of Murphy Oil by 4.2% during the third quarter. Profund Advisors LLC now owns 8,317 shares of the oil and gas producer’s stock worth $293,000 after buying an additional 332 shares in the last quarter. 77.55% of the stock is currently owned by institutional investors and hedge funds.

Murphy Oil Company Profile

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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 formerly known as Murphy Corporation and changed its name to Murphy Oil Corporation in 1964.

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Analyst Recommendations for Murphy Oil (NYSE:MUR)

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