Murphy Oil (NYSE:MUR) Lowered to “Sector Perform” at Howard Weil

Howard Weil cut shares of Murphy Oil (NYSE:MUR) from a sector outperform rating to a sector perform rating in a research report sent to investors on Wednesday, Briefing.com Automated Import reports.

MUR has been the topic of several other reports. Wells Fargo & Co decreased their price target on shares of Murphy Oil from $28.00 to $23.00 and set a market perform rating on the stock in a research report on Friday, September 6th. Goldman Sachs Group upgraded shares of Murphy Oil from a neutral rating to a buy rating and set a $30.00 price target on the stock in a research report on Tuesday, July 23rd. MKM Partners set a $38.00 price target on shares of Murphy Oil and gave the stock a buy rating in a research report on Monday, August 12th. BMO Capital Markets began coverage on shares of Murphy Oil in a research report on Monday, September 30th. They issued an outperform rating and a $27.00 price target on the stock. Finally, ValuEngine upgraded shares of Murphy Oil from a sell rating to a hold rating in a research report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $30.47.

MUR stock traded up $0.75 on Wednesday, hitting $24.33. The company had a trading volume of 2,168,298 shares, compared to its average volume of 3,472,648. Murphy Oil has a 12-month low of $17.04 and a 12-month high of $33.21. The company has a current ratio of 1.23, a quick ratio of 1.14 and a debt-to-equity ratio of 0.54. The stock’s 50-day simple moving average is $21.24 and its 200 day simple moving average is $22.68. The stock has a market cap of $3.75 billion, a price-to-earnings ratio of 19.31 and a beta of 2.04.

Murphy Oil (NYSE:MUR) last issued its earnings results on Thursday, October 31st. The oil and gas producer reported $0.36 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.14. Murphy Oil had a net margin of 47.16% and a return on equity of 3.21%. The company had revenue of $817.08 million for the quarter, compared to analysts’ expectations of $701.64 million. During the same quarter last year, the company posted ($0.02) earnings per share. The firm’s quarterly revenue was up 66.6% on a year-over-year basis. Research analysts forecast that Murphy Oil will post 1.06 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.00 annualized dividend and a dividend yield of 4.11%. Murphy Oil’s payout ratio is 79.37%.

In other news, SVP Thomas J. Mireles sold 1,368 shares of the firm’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $24.64, for a total transaction of $33,707.52. Following the sale, the senior vice president now directly owns 20,000 shares in the company, valued at approximately $492,800. The sale 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 company insiders.

Hedge funds have recently made changes to their positions in the company. NuWave Investment Management LLC raised its position in shares of Murphy Oil by 391.9% during the 3rd quarter. NuWave Investment Management LLC now owns 2,617 shares of the oil and gas producer’s stock valued at $53,000 after purchasing an additional 2,085 shares during the period. Tower Research Capital LLC TRC bought a new stake in shares of Murphy Oil during the 2nd quarter valued at $72,000. Capital Investment Advisory Services LLC raised its position in shares of Murphy Oil by 583.3% during the 3rd quarter. Capital Investment Advisory Services LLC now owns 4,100 shares of the oil and gas producer’s stock valued at $91,000 after purchasing an additional 3,500 shares during the period. Oppenheimer Asset Management Inc. raised its position in shares of Murphy Oil by 10.8% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 5,768 shares of the oil and gas producer’s stock valued at $142,000 after purchasing an additional 560 shares during the period. Finally, Macquarie Group Ltd. bought a new stake in shares of Murphy Oil during the 2nd quarter valued at $205,000. Hedge funds and other institutional investors own 93.25% 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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