KeyCorp initiated coverage on shares of Murphy Oil (NYSE:MUR) in a research report released on Monday morning, BenzingaRatingsTable reports. The brokerage issued an overweight rating and a $24.00 price objective on the oil and gas producer’s stock. KeyCorp also issued estimates for Murphy Oil’s Q3 2019 earnings at ($0.06) EPS, Q4 2019 earnings at $0.34 EPS, Q1 2020 earnings at $0.30 EPS, Q2 2020 earnings at $0.21 EPS, Q3 2020 earnings at $0.29 EPS, Q4 2020 earnings at $0.34 EPS and FY2020 earnings at $1.14 EPS.

Several other analysts have also recently weighed in on the stock. Piper Jaffray Companies set a $38.00 target price on shares of Murphy Oil and gave the company a hold rating in a report on Friday, August 16th. Wells Fargo & Co reduced their target price on shares of Murphy Oil from $28.00 to $23.00 and set a market perform rating on the stock in a report on Friday, September 6th. Morgan Stanley cut their price objective on shares of Murphy Oil from $24.00 to $22.00 and set an underweight rating on the stock in a report on Friday, July 12th. Zacks Investment Research raised shares of Murphy Oil from a hold rating to a buy rating and set a $25.00 price objective on the stock in a report on Monday, June 10th. Finally, Stephens set a $40.00 price objective on shares of Murphy Oil and gave the stock a hold rating in a report on Friday, May 17th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $31.71.

NYSE MUR opened at $21.35 on Monday. The firm has a 50 day simple moving average of $20.16 and a 200-day simple moving average of $25.09. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.21 and a current ratio of 1.25. Murphy Oil has a one year low of $17.04 and a one year high of $36.53. The firm has a market cap of $3.34 billion, a price-to-earnings ratio of 16.94 and a beta of 2.02.

Murphy Oil (NYSE:MUR) last posted its quarterly earnings data on Thursday, August 8th. The oil and gas producer reported $0.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.03. The business had revenue of $709.00 million during the quarter, compared to analyst estimates of $612.71 million. Murphy Oil had a net margin of 12.37% and a return on equity of 3.48%. The business’s revenue for the quarter was up 81.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.36 earnings per share. Equities analysts predict that Murphy Oil will post 0.88 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 19th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.68%. Murphy Oil’s payout ratio is 79.37%.

In other news, Director Walentin Mirosh sold 1,360 shares of Murphy Oil stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $18.52, for a total value of $25,187.20. Following the transaction, the director now directly owns 25,365 shares of the company’s stock, valued at approximately $469,759.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 6.46% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Municipal Employees Retirement System of Michigan grew its position in Murphy Oil by 1.4% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 30,080 shares of the oil and gas producer’s stock valued at $741,000 after buying an additional 420 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Murphy Oil by 0.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 54,738 shares of the oil and gas producer’s stock valued at $1,603,000 after buying an additional 501 shares during the last quarter. Oppenheimer Asset Management Inc. grew its position in Murphy Oil by 10.8% in 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 buying an additional 560 shares during the last quarter. First Hawaiian Bank grew its position in Murphy Oil by 3.8% in the 2nd quarter. First Hawaiian Bank now owns 16,062 shares of the oil and gas producer’s stock valued at $396,000 after buying an additional 583 shares during the last quarter. Finally, United Asset Strategies Inc. grew its position in Murphy Oil by 3.8% in the 2nd quarter. United Asset Strategies Inc. now owns 18,599 shares of the oil and gas producer’s stock valued at $458,000 after buying an additional 675 shares during the last quarter. 90.23% of the stock is currently owned by institutional investors and hedge funds.

About Murphy Oil

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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