Piper Jaffray Companies set a $38.00 price target on Murphy Oil (NYSE:MUR) in a research note issued to investors on Friday morning, TipRanks reports. The firm currently has a hold rating on the oil and gas producer’s stock. Piper Jaffray Companies also issued estimates for Murphy Oil’s Q3 2020 earnings at $0.09 EPS and Q4 2020 earnings at $0.14 EPS.

Several other analysts have also recently commented on the company. Capital One Financial initiated coverage on Murphy Oil in a report on Wednesday, July 10th. They set an overweight rating and a $37.00 target price on the stock. ValuEngine cut Murphy Oil from a hold rating to a sell rating in a report on Wednesday, May 1st. Zacks Investment Research upgraded Murphy Oil from a hold rating to a buy rating and set a $25.00 target price on the stock in a report on Monday, June 10th. Goldman Sachs Group upgraded Murphy Oil from a neutral rating to a buy rating and set a $30.00 target price on the stock in a report on Tuesday, July 23rd. Finally, Evercore ISI started coverage on Murphy Oil in a report on Thursday, May 30th. They set an in-line rating and a $30.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $33.54.

Shares of MUR stock traded up $0.92 during trading hours on Friday, hitting $19.89. 2,692,275 shares of the company’s stock were exchanged, compared to its average volume of 2,386,626. The stock’s 50-day moving average is $22.58 and its 200-day moving average is $26.25. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.25 and a quick ratio of 1.56. The stock has a market cap of $3.17 billion, a price-to-earnings ratio of 15.79 and a beta of 1.94. Murphy Oil has a 52 week low of $17.90 and a 52 week high of $36.53.

Murphy Oil (NYSE:MUR) last announced its earnings results on Thursday, August 8th. The oil and gas producer reported $0.21 EPS for the quarter, topping the consensus estimate of $0.18 by $0.03. The company had revenue of $709.00 million for the quarter, compared to analysts’ expectations of $612.71 million. Murphy Oil had a return on equity of 3.48% and a net margin of 12.37%. The business’s revenue for the quarter was up 81.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.36 earnings per share. Equities research analysts forecast that Murphy Oil will post 0.84 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Monday, August 19th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 5.03%. The ex-dividend date is Friday, August 16th. Murphy Oil’s dividend payout ratio is 79.37%.

In other Murphy Oil news, Director Walentin Mirosh sold 1,360 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $18.52, for a total transaction of $25,187.20. Following the transaction, the director now owns 25,365 shares in the company, valued at $469,759.80. The sale was disclosed in a document filed with the SEC, which is available through this link. 6.46% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Quadrant Capital Group LLC boosted its holdings in Murphy Oil by 632.3% during the first quarter. Quadrant Capital Group LLC now owns 2,065 shares of the oil and gas producer’s stock worth $58,000 after buying an additional 1,783 shares during the last quarter. Tower Research Capital LLC TRC bought a new position in Murphy Oil during the second quarter worth about $72,000. Penserra Capital Management LLC boosted its holdings in Murphy Oil by 247.7% during the first quarter. Penserra Capital Management LLC now owns 4,729 shares of the oil and gas producer’s stock worth $138,000 after buying an additional 3,369 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in Murphy Oil by 10.8% during the second quarter. Oppenheimer Asset Management Inc. now owns 5,768 shares of the oil and gas producer’s stock worth $142,000 after buying an additional 560 shares during the last quarter. Finally, Investors Research Corp bought a new position in Murphy Oil during the first quarter worth about $149,000. Hedge funds and other institutional investors own 90.34% of the company’s stock.

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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