Cowen and Company Reiterates $30.00 Price Target for Murphy Oil Corporation (NYSE:MUR)
Cowen and Company set a $30.00 target price on Murphy Oil Corporation (NYSE:MUR) in a research note published on Wednesday morning. The firm currently has a hold rating on the oil and gas producer’s stock.
Several other brokerages have also recently issued reports on MUR. Zacks Investment Research cut Murphy Oil Corporation from a hold rating to a sell rating in a report on Tuesday, April 4th. Credit Suisse Group reaffirmed an underperform rating and issued a $34.00 target price (down from $35.00) on shares of Murphy Oil Corporation in a report on Friday, May 5th. BidaskClub raised Murphy Oil Corporation from a strong sell rating to a sell rating in a report on Wednesday, June 14th. Barclays PLC lifted their target price on Murphy Oil Corporation from $46.00 to $52.00 and gave the stock a buy rating in a report on Monday, April 17th. Finally, KLR Group initiated coverage on Murphy Oil Corporation in a report on Wednesday, May 24th. They issued a buy rating and a $41.00 target price on the stock. Five investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the stock. Murphy Oil Corporation has a consensus rating of Hold and a consensus target price of $31.27.
Murphy Oil Corporation (MUR) traded down 1.86% during trading on Wednesday, hitting $25.36. The stock had a trading volume of 3,308,955 shares. The firm’s market cap is $4.38 billion. Murphy Oil Corporation has a 52-week low of $23.61 and a 52-week high of $35.19. The company has a 50-day moving average of $24.97 and a 200 day moving average of $27.23.
Murphy Oil Corporation (NYSE:MUR) last issued its earnings results on Wednesday, May 3rd. The oil and gas producer reported ($0.06) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by $0.01. Murphy Oil Corporation had a negative return on equity of 2.61% and a negative net margin of 0.89%. The firm had revenue of $544.70 million during the quarter, compared to the consensus estimate of $529.61 million. During the same period last year, the firm posted ($0.66) earnings per share. The company’s revenue for the quarter was up 26.6% compared to the same quarter last year. On average, equities research analysts predict that Murphy Oil Corporation will post ($0.31) earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Ameritas Investment Partners Inc. acquired a new position in shares of Murphy Oil Corporation during the first quarter valued at about $111,000. Mn Services Vermogensbeheer B.V. raised its position in shares of Murphy Oil Corporation by 4.4% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 4,245 shares of the oil and gas producer’s stock valued at $113,000 after buying an additional 178 shares during the period. Koch Industries Inc. acquired a new position in shares of Murphy Oil Corporation during the first quarter valued at about $208,000. Contravisory Investment Management Inc. raised its position in shares of Murphy Oil Corporation by 31.7% in the first quarter. Contravisory Investment Management Inc. now owns 7,946 shares of the oil and gas producer’s stock valued at $227,000 after buying an additional 1,914 shares during the period. Finally, Laurion Capital Management LP acquired a new position in shares of Murphy Oil Corporation during the first quarter valued at about $232,000. Institutional investors and hedge funds own 96.32% of the company’s stock.
About Murphy Oil Corporation
Murphy Oil Corporation (Murphy) is an oil and gas exploration and production company. The Company’s exploration and production business explores for and produces crude oil, natural gas and natural gas liquids across the world. Its exploration and production activities are subdivided into four geographic segments: the United States, Canada, Malaysia and all other countries.
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