Morgan Stanley Lowers Murphy Oil (NYSE:MUR) Price Target to $22.00

Murphy Oil (NYSE:MUR) had its price objective reduced by Morgan Stanley from $24.00 to $22.00 in a research note published on Friday morning, BenzingaRatingsTable reports. They currently have an underweight rating on the oil and gas producer’s stock.

MUR has been the subject of several other reports. TheStreet raised shares of Third Point Reinsurance from a d+ rating to a c- rating in a research report on Tuesday, May 14th. Stephens set a $40.00 price target on shares of Murphy Oil and gave the company a hold rating in a research report on Friday, May 17th. Evercore ISI cut shares of PACCAR from an outperform rating to an in-line rating and boosted their price target for the company from $73.00 to $76.00 in a research report on Thursday, May 30th. Capital One Financial initiated coverage on shares of Murphy Oil in a research report on Wednesday, July 10th. They issued an overweight rating and a $37.00 price target for the company. Finally, Zacks Investment Research raised shares of Grana y Montero SAA from a sell rating to a hold rating in a research report on Monday, June 10th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $33.89.

Murphy Oil stock opened at $23.47 on Friday. The stock has a market cap of $4.12 billion, a PE ratio of 18.63 and a beta of 1.95. The stock’s fifty day moving average price is $24.37. Murphy Oil has a 12-month low of $21.51 and a 12-month high of $36.53. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.67.

Murphy Oil (NYSE:MUR) last released its quarterly earnings data on Thursday, May 2nd. The oil and gas producer reported $0.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.10 by $0.05. The business had revenue of $591.00 million during the quarter, compared to analysts’ expectations of $557.15 million. Murphy Oil had a net margin of 10.99% and a return on equity of 4.10%. The company’s revenue for the quarter was up 57.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.23 EPS. On average, sell-side analysts expect that Murphy Oil will post 1.27 earnings per share for the current year.

In other news, insider Thomas J. Mireles sold 7,400 shares of the company’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $27.60, for a total value of $204,240.00. Following the completion of the sale, the insider now directly owns 21,368 shares of the company’s stock, valued at $589,756.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 6.46% of the stock is currently owned by corporate insiders.

Several large investors have recently made changes to their positions in the company. Northern Trust Corp grew its position in Murphy Oil by 2.0% during the 4th quarter. Northern Trust Corp now owns 1,361,737 shares of the oil and gas producer’s stock worth $31,850,000 after acquiring an additional 26,894 shares during the last quarter. Great West Life Assurance Co. Can grew its position in Murphy Oil by 3.3% during the 4th quarter. Great West Life Assurance Co. Can now owns 139,867 shares of the oil and gas producer’s stock worth $3,068,000 after acquiring an additional 4,530 shares during the last quarter. United Services Automobile Association grew its position in Murphy Oil by 1.1% during the 4th quarter. United Services Automobile Association now owns 219,360 shares of the oil and gas producer’s stock worth $5,131,000 after acquiring an additional 2,389 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Murphy Oil by 1.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,817,092 shares of the oil and gas producer’s stock worth $136,061,000 after acquiring an additional 93,228 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Murphy Oil by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 1,980,418 shares of the oil and gas producer’s stock worth $46,321,000 after buying an additional 52,963 shares during the period. 85.66% 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 in the United States, Canada, Malaysia, 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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