Mizuho Has Lowered Expectations for Murphy Oil (NYSE:MUR) Stock Price

Murphy Oil (NYSE:MUR) had its price objective decreased by Mizuho from $50.00 to $45.00 in a research note published on Monday morning,Benzinga reports. Mizuho currently has an outperform rating on the oil and gas producer’s stock.

Other equities research analysts also recently issued reports about the company. The Goldman Sachs Group dropped their target price on Murphy Oil from $44.00 to $39.00 and set a “neutral” rating on the stock in a report on Monday, October 7th. Piper Sandler lowered their price target on Murphy Oil from $43.00 to $42.00 and set an “overweight” rating for the company in a research report on Monday, November 18th. Wells Fargo & Company cut their price objective on shares of Murphy Oil from $39.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Monday, December 9th. Morgan Stanley decreased their target price on shares of Murphy Oil from $43.00 to $39.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. Finally, Scotiabank cut their price target on shares of Murphy Oil from $47.00 to $36.00 and set a “sector perform” rating on the stock in a report on Thursday, October 10th. Ten research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $39.58.

Murphy Oil Stock Down 2.6 %

Shares of Murphy Oil stock opened at $28.51 on Monday. Murphy Oil has a 1 year low of $28.38 and a 1 year high of $49.14. The firm has a market cap of $4.16 billion, a price-to-earnings ratio of 9.20 and a beta of 2.18. The company has a 50-day moving average of $32.25 and a 200 day moving average of $36.05. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.71 and a quick ratio of 0.65.

Murphy Oil (NYSE:MUR) last announced its earnings results on Thursday, November 7th. The oil and gas producer reported $0.74 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.02). Murphy Oil had a net margin of 14.78% and a return on equity of 9.22%. The business had revenue of $758.33 million for the quarter, compared to the consensus estimate of $759.74 million. During the same period in the prior year, the business posted $1.59 EPS. Murphy Oil’s revenue for the quarter was down 21.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Murphy Oil will post 3.15 earnings per share for the current fiscal year.

Murphy Oil Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 18th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 4.21%. The ex-dividend date of this dividend was Monday, November 18th. Murphy Oil’s dividend payout ratio (DPR) is presently 38.71%.

Hedge Funds Weigh In On Murphy Oil

Several hedge funds and other institutional investors have recently modified their holdings of MUR. Quadrature Capital Ltd purchased a new stake in Murphy Oil during the third quarter valued at $1,217,000. Mutual of America Capital Management LLC grew its stake in shares of Murphy Oil by 21.2% during the 2nd quarter. Mutual of America Capital Management LLC now owns 218,739 shares of the oil and gas producer’s stock valued at $9,021,000 after purchasing an additional 38,334 shares during the period. Oppenheimer Asset Management Inc. increased its position in shares of Murphy Oil by 24.2% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 166,316 shares of the oil and gas producer’s stock valued at $6,859,000 after purchasing an additional 32,411 shares during the last quarter. Prospector Partners LLC lifted its stake in shares of Murphy Oil by 50.5% in the 3rd quarter. Prospector Partners LLC now owns 307,092 shares of the oil and gas producer’s stock worth $10,361,000 after purchasing an additional 103,092 shares during the period. Finally, AXA S.A. boosted its holdings in shares of Murphy Oil by 86.5% in the second quarter. AXA S.A. now owns 132,710 shares of the oil and gas producer’s stock worth $5,473,000 after buying an additional 61,537 shares during the last quarter. 78.31% of the stock is owned by institutional investors.

Murphy Oil Company Profile

Murphy Oil Corporation, together with its subsidiaries, operates as an oil and 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.