Murphy Oil (MUR) Hits New 52-Week High on Analyst Upgrade

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Murphy Oil Co. (NYSE:MUR) reached a new 52-week high on Thursday after Credit Suisse Group raised their price target on the stock from $37.00 to $39.00. Credit Suisse Group currently has a neutral rating on the stock. Murphy Oil traded as high as $36.53 and last traded at $35.92, with a volume of 399594 shares traded. The stock had previously closed at $31.77.

Several other research firms have also recently weighed in on MUR. National Alliance Securities upgraded Murphy Oil from a “hold” rating to a “buy” rating in a research note on Thursday. Barclays boosted their target price on Murphy Oil from $34.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 11th. Zacks Investment Research cut Murphy Oil from a “hold” rating to a “strong sell” rating in a research note on Tuesday. Morgan Stanley assumed coverage on Murphy Oil in a research note on Thursday, July 12th. They issued an “underweight” rating and a $26.00 price objective for the company. Finally, Piper Jaffray Companies reiterated a “neutral” rating on shares of Murphy Oil in a research note on Friday, September 28th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $34.80.

A number of hedge funds and other institutional investors have recently modified their holdings of MUR. FMR LLC lifted its stake in Murphy Oil by 7.2% in the second quarter. FMR LLC now owns 15,868,414 shares of the oil and gas producer’s stock valued at $535,876,000 after buying an additional 1,065,018 shares during the last quarter. Marshall Wace LLP lifted its stake in Murphy Oil by 5,302.0% in the second quarter. Marshall Wace LLP now owns 824,190 shares of the oil and gas producer’s stock valued at $27,833,000 after buying an additional 808,933 shares during the last quarter. Aristotle Atlantic Partners LLC lifted its stake in Murphy Oil by 2,028.0% in the second quarter. Aristotle Atlantic Partners LLC now owns 548,637 shares of the oil and gas producer’s stock valued at $18,526,000 after buying an additional 522,855 shares during the last quarter. Millennium Management LLC lifted its stake in Murphy Oil by 94.2% in the first quarter. Millennium Management LLC now owns 763,921 shares of the oil and gas producer’s stock valued at $19,740,000 after buying an additional 370,598 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in Murphy Oil by 69.5% in the second quarter. Renaissance Technologies LLC now owns 726,600 shares of the oil and gas producer’s stock valued at $24,537,000 after buying an additional 298,000 shares during the last quarter. Institutional investors own 89.65% of the company’s stock.

The company has a quick ratio of 1.35, a current ratio of 1.46 and a debt-to-equity ratio of 0.62. The company has a market cap of $5.77 billion, a price-to-earnings ratio of -275.23 and a beta of 2.25.

Murphy Oil (NYSE:MUR) last released its earnings results on Wednesday, August 8th. The oil and gas producer reported $0.36 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.01. The business had revenue of $655.15 million for the quarter, compared to analyst estimates of $623.76 million. Murphy Oil had a positive return on equity of 2.32% and a negative net margin of 6.19%. The company’s revenue for the quarter was up 37.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.11) earnings per share. On average, analysts expect that Murphy Oil Co. will post 1.64 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Monday, November 12th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date of this dividend is Thursday, November 8th. Murphy Oil’s payout ratio is currently -769.23%.

Murphy Oil Company Profile (NYSE:MUR)

Murphy Oil Corporation operates as an oil and gas exploration and production company worldwide. 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. Murphy Oil Corporation was founded in 1950 and is headquartered in El Dorado, Arkansas.

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