Murphy Oil (NYSE:MUR) Reaches New 52-Week High – Here’s Why

Murphy Oil Corporation (NYSE:MUR) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $34.88 and last traded at $34.7960, with a volume of 106159 shares changing hands. The stock had previously closed at $33.27.

Wall Street Analyst Weigh In

MUR has been the topic of several recent analyst reports. Wells Fargo & Company upped their price objective on shares of Murphy Oil from $26.00 to $28.00 and gave the company an “equal weight” rating in a report on Friday, November 14th. Evercore ISI lowered their price target on Murphy Oil from $23.00 to $22.00 and set an “in-line” rating on the stock in a research note on Monday, October 6th. UBS Group raised their price objective on shares of Murphy Oil from $27.00 to $31.00 and gave the stock a “neutral” rating in a research report on Friday, December 12th. Mizuho upped their target price on shares of Murphy Oil from $30.00 to $33.00 and gave the company a “neutral” rating in a research report on Friday, December 12th. Finally, Barclays lifted their price objective on Murphy Oil from $26.00 to $29.00 and gave the company an “underweight” rating in a research note on Wednesday, January 7th. Thirteen equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $29.58.

Murphy Oil Stock Performance

The company has a market capitalization of $4.92 billion, a price-to-earnings ratio of 35.27 and a beta of 0.78. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.87 and a current ratio of 0.94. The stock’s 50-day moving average price is $31.22 and its 200-day moving average price is $27.88.

Murphy Oil (NYSE:MUR) last announced its earnings results on Wednesday, November 5th. The oil and gas producer reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.25. The firm had revenue of $720.97 million for the quarter, compared to analyst estimates of $648.80 million. Murphy Oil had a net margin of 5.16% and a return on equity of 4.30%. Murphy Oil’s revenue was down 3.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.74 earnings per share. As a group, equities research analysts expect that Murphy Oil Corporation will post 2.94 earnings per share for the current year.

Hedge Funds Weigh In On Murphy Oil

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC raised its holdings in shares of Murphy Oil by 67.3% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,094 shares of the oil and gas producer’s stock valued at $32,000 after purchasing an additional 440 shares during the period. UMB Bank n.a. grew its position in Murphy Oil by 148.1% in the second quarter. UMB Bank n.a. now owns 2,273 shares of the oil and gas producer’s stock valued at $51,000 after acquiring an additional 1,357 shares during the last quarter. Allworth Financial LP grew its position in Murphy Oil by 39.7% during the 2nd quarter. Allworth Financial LP now owns 2,440 shares of the oil and gas producer’s stock worth $55,000 after acquiring an additional 693 shares during the last quarter. Hantz Financial Services Inc. grew its stake in shares of Murphy Oil by 494.0% in the second quarter. Hantz Financial Services Inc. now owns 2,786 shares of the oil and gas producer’s stock worth $63,000 after purchasing an additional 2,317 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Murphy Oil by 437.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,802 shares of the oil and gas producer’s stock worth $86,000 after purchasing an additional 3,095 shares during the period. Institutional investors and hedge funds own 78.31% of the company’s stock.

Murphy Oil Company Profile

Murphy Oil Corporation is an independent upstream oil and gas company engaged in the exploration, development and production of crude oil, natural gas and natural gas liquids. The company’s operations encompass conventional onshore and offshore reservoirs, with an emphasis on liquids-rich properties and deepwater assets. Through a combination of proprietary technologies and strategic joint ventures, Murphy Oil seeks to optimize recovery rates and manage its portfolio to balance long-term resource development with operational flexibility.

Murphy Oil’s exploration and production activities are geographically diversified.