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

Murphy Oil (NYSE:MUR) had its price target dropped by analysts at Morgan Stanley from $24.00 to $22.00 in a research report issued to clients and investors on Friday, BenzingaRatingsTable reports. The firm currently has an “underweight” rating on the oil and gas producer’s stock. Morgan Stanley’s price objective points to a potential downside of 7.37% from the company’s current price.

A number of other brokerages have also weighed in on MUR. TheStreet raised shares of Third Point Reinsurance from a “d+” rating to a “c-” rating in a research note on Tuesday, May 14th. Zacks Investment Research raised shares of Grana y Montero SAA from a “sell” rating to a “hold” rating in a research note on Monday, June 10th. Capital One Financial initiated coverage on shares of Murphy Oil in a research note on Wednesday. They issued an “overweight” rating and a $37.00 price target for the company. Evercore ISI lowered shares of PACCAR from an “outperform” rating to an “in-line” rating and upped their price target for the stock from $73.00 to $76.00 in a research note on Thursday, May 30th. Finally, ValuEngine lowered shares of Zosano Pharma from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. Two equities research analysts have rated the stock with a sell rating, ten have assigned 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 a consensus price target of $33.89.

Murphy Oil stock opened at $23.75 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.61 and a quick ratio of 1.56. The firm’s 50-day moving average price is $24.49. The firm has a market cap of $4.12 billion, a price-to-earnings ratio of 18.85 and a beta of 1.94. Murphy Oil has a 52-week low of $21.51 and a 52-week high of $36.53.

Murphy Oil (NYSE:MUR) last issued its quarterly earnings results on Thursday, May 2nd. The oil and gas producer reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.05. The company had revenue of $591.00 million during the quarter, compared to analyst estimates of $557.15 million. Murphy Oil had a net margin of 10.99% and a return on equity of 4.10%. The business’s revenue for the quarter was up 57.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.23 EPS. Research analysts anticipate that Murphy Oil will post 1.27 earnings per share for the current year.

In related news, insider Thomas J. Mireles sold 7,400 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $27.60, for a total value of $204,240.00. Following the sale, the insider now directly owns 21,368 shares in the company, valued at approximately $589,756.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.46% of the stock is owned by insiders.

Several hedge funds have recently added to or reduced their stakes in MUR. Norges Bank acquired a new stake in shares of Murphy Oil during the fourth quarter valued at approximately $58,361,000. Millennium Management LLC raised its holdings in shares of Murphy Oil by 326.2% during the fourth quarter. Millennium Management LLC now owns 1,604,044 shares of the oil and gas producer’s stock valued at $37,519,000 after acquiring an additional 1,227,727 shares during the period. D. E. Shaw & Co. Inc. raised its holdings in shares of Murphy Oil by 247.2% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,271,880 shares of the oil and gas producer’s stock valued at $29,750,000 after acquiring an additional 905,542 shares during the period. Amundi Pioneer Asset Management Inc. acquired a new stake in shares of Murphy Oil during the fourth quarter valued at approximately $19,290,000. Finally, Phocas Financial Corp. acquired a new position in Murphy Oil in the 1st quarter valued at approximately $7,114,000. Institutional investors and hedge funds own 85.65% 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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