Murphy Oil (NYSE:MUR) Given New $35.00 Price Target at Barclays

Murphy Oil (NYSE:MUR) had its price objective upped by Barclays from $34.00 to $35.00 in a research report report published on Friday morning,Benzinga reports. They currently have an underweight rating on the oil and gas producer’s stock.

Several other research analysts also recently commented on the company. The Goldman Sachs Group increased their price objective on Murphy Oil from $36.00 to $44.00 and gave the company a “neutral” rating in a research note on Tuesday, October 27th. Seaport Research Partners initiated coverage on shares of Murphy Oil in a research note on Thursday, September 3rd. They set a “neutral” rating on the stock. BMO Capital Markets reaffirmed a “market perform” rating on shares of Murphy Oil in a research note on Wednesday, October 14th. Zacks Research raised shares of Murphy Oil from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 28th. Finally, Mizuho increased their target price on shares of Murphy Oil from $41.00 to $44.00 and gave the company a “neutral” rating in a research report on Wednesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $39.83.

Murphy Oil Price Performance

NYSE:MUR traded up $0.51 during trading hours on Friday, hitting $36.84. 1,060,027 shares of the stock were exchanged, compared to its average volume of 1,602,906. Murphy Oil has a 52-week low of $28.70 and a 52-week high of $45.03. The firm’s fifty day moving average price is $38.74 and its 200 day moving average price is $37.01. The company has a current ratio of 0.95, a quick ratio of 0.89 and a debt-to-equity ratio of 0.29. The company has a market cap of $5.28 billion, a P/E ratio of 11.48 and a beta of 0.52.

Murphy Oil (NYSE:MUR) last announced its earnings results on Wednesday, November 4th. The oil and gas producer reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.17. The business had revenue of $849.17 million during the quarter, compared to analysts’ expectations of $781.53 million. Murphy Oil had a return on equity of 8.41% and a net margin of 14.90%. The business’s revenue was up 16.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.41 earnings per share. As a group, equities research analysts anticipate that Murphy Oil will post 3.63 EPS for the current fiscal year.

Murphy Oil Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Monday, November 16th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 3.8%. The ex-dividend date is Monday, November 16th. Murphy Oil’s dividend payout ratio is presently 43.61%.

Institutional Investors Weigh In On Murphy Oil

Several hedge funds and other institutional investors have recently bought and sold shares of MUR. Heritage Family Offices LLP purchased a new stake in shares of Murphy Oil in the 3rd quarter valued at approximately $33,000. Covestor Ltd increased its holdings in shares of Murphy Oil by 55.5% during the 3rd quarter. Covestor Ltd now owns 1,096 shares of the oil and gas producer’s stock worth $41,000 after buying an additional 391 shares during the last quarter. Root Financial Partners LLC acquired a new position in Murphy Oil in the third quarter valued at approximately $44,000. Compass Wealth Management LLC acquired a new position in Murphy Oil in the third quarter valued at approximately $46,000. Finally, Mather Group LLC. purchased a new position in Murphy Oil in the third quarter worth approximately $51,000. 78.31% of the stock is currently owned by institutional investors and hedge funds.

About Murphy Oil

Murphy Oil Corporation is an independent oil and natural gas exploration and production company. It explores for and develops crude oil, natural gas and natural gas liquids, with operations focused on onshore areas of the United States and Canada and offshore areas in the Gulf of Mexico. The company traces its roots to 1950, when it was founded as Murphy Corporation. Over time, Murphy shifted its focus toward exploration and production and expanded its activities internationally, later concentrating its portfolio on North American assets.