Murphy Oil (NYSE:MUR) Price Target Raised to $49.00 at Truist Financial

Murphy Oil (NYSE:MUR – Get Rating) had its price objective boosted by Truist Financial from $46.00 to $49.00 in a research note published on Tuesday morning, The Fly reports. The brokerage currently has a hold rating on the oil and gas producer’s stock.

A number of other analysts have also recently commented on MUR. Wells Fargo & Company cut their target price 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. Mizuho reissued a buy rating and issued a $51.00 price objective (down from $53.00) on shares of Murphy Oil in a report on Tuesday, January 10th. Jefferies Financial Group assumed coverage on shares of Murphy Oil in a research report on Wednesday, October 19th. They set a hold rating and a $46.00 target price on the stock. JPMorgan Chase & Co. upgraded shares of Murphy Oil from a neutral rating to an overweight rating and set a $56.00 price target for the company in a research report on Monday, December 5th. Finally, Piper Sandler raised their price objective on shares of Murphy Oil from $62.00 to $68.00 and gave the stock an overweight rating in a research report on Thursday, November 17th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Murphy Oil currently has a consensus rating of Hold and a consensus price target of $49.67.

Murphy Oil Price Performance

MUR stock opened at $42.76 on Tuesday. The business has a 50 day moving average price of $43.48 and a 200 day moving average price of $40.49. The company has a quick ratio of 0.74, a current ratio of 0.78 and a debt-to-equity ratio of 0.41. The stock has a market cap of $6.65 billion, a price-to-earnings ratio of 7.20 and a beta of 2.41. Murphy Oil has a fifty-two week low of $25.97 and a fifty-two week high of $51.28.

Murphy Oil (NYSE:MUR – Get Rating) last issued its quarterly earnings data on Thursday, November 3rd. The oil and gas producer reported $1.84 earnings per share for the quarter, topping the consensus estimate of $1.56 by $0.28. The business had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $930.51 million. Murphy Oil had a net margin of 25.27% and a return on equity of 17.20%. Equities research analysts anticipate that Murphy Oil will post 5.9 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Murphy Oil news, CFO Thomas J. Mireles sold 15,000 shares of Murphy Oil 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 sale, the chief financial officer now owns 39,894 shares of the company’s stock, valued at approximately $1,957,199.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Murphy Oil news, CEO Roger W. Jenkins sold 150,000 shares of Murphy Oil stock in a transaction that occurred on Friday, November 11th. The stock was sold at an average price of $50.52, for a total value of $7,578,000.00. Following the sale, the chief executive officer now owns 664,664 shares of the company’s stock, valued at approximately $33,578,825.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Thomas J. Mireles sold 15,000 shares of Murphy Oil stock in a transaction that occurred on Tuesday, November 15th. The shares were 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 approximately $1,957,199.64. The disclosure for this sale can be found here. Insiders have sold a total of 210,754 shares of company stock valued at $10,615,495 over the last quarter. 6.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Murphy Oil

Hedge funds and other institutional investors have recently modified their holdings of the stock. Lazard Asset Management LLC acquired a new stake in shares of Murphy Oil during the 2nd quarter valued at approximately $25,000. CoreCap Advisors LLC acquired a new stake in shares of Murphy Oil during the 2nd quarter valued at approximately $64,000. Signaturefd LLC lifted its position in shares of Murphy Oil by 37.7% during the 3rd quarter. Signaturefd LLC now owns 2,143 shares of the oil and gas producer’s stock valued at $75,000 after acquiring an additional 587 shares during the period. Exchange Traded Concepts LLC lifted its position in shares of Murphy Oil by 13.1% during the 3rd quarter. Exchange Traded Concepts LLC now owns 2,193 shares of the oil and gas producer’s stock valued at $77,000 after acquiring an additional 254 shares during the period. Finally, Van ECK Associates Corp acquired a new stake in shares of Murphy Oil during the 3rd quarter valued at approximately $78,000. 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.