Fintel reports that on October 2, 2023, Morgan Stanley maintained coverage of Murphy Oil (NYSE:MUR) with a Equal-Weight recommendation.
Analyst Price Forecast Suggests 16.04% Upside
As of August 31, 2023, the average one-year price target for Murphy Oil is 50.93. The forecasts range from a low of 40.40 to a high of $70.35. The average price target represents an increase of 16.04% from its latest reported closing price of 43.89.
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The projected annual revenue for Murphy Oil is 4,198MM, an increase of 20.46%. The projected annual non-GAAP EPS is 7.78.
What is the Fund Sentiment?
There are 767 funds or institutions reporting positions in Murphy Oil. This is a decrease of 23 owner(s) or 2.91% in the last quarter. Average portfolio weight of all funds dedicated to MUR is 0.24%, an increase of 11.45%. Total shares owned by institutions decreased in the last three months by 2.67% to 141,759K shares. 
The put/call ratio of MUR is 0.59, indicating a bullish outlook.
What are Other Shareholders Doing?
Hotchkis & Wiley Capital Management holds 5,808K shares representing 3.72% ownership of the company. In it's prior filing, the firm reported owning 6,419K shares, representing a decrease of 10.51%. The firm decreased its portfolio allocation in MUR by 9.78% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 4,603K shares representing 2.95% ownership of the company. In it's prior filing, the firm reported owning 4,571K shares, representing an increase of 0.71%. The firm decreased its portfolio allocation in MUR by 3.76% over the last quarter.
IJH - iShares Core S&P Mid-Cap ETF holds 4,451K shares representing 2.85% ownership of the company. In it's prior filing, the firm reported owning 4,508K shares, representing a decrease of 1.28%. The firm decreased its portfolio allocation in MUR by 2.05% over the last quarter.
NAESX - Vanguard Small-Cap Index Fund Investor Shares holds 3,829K shares representing 2.45% ownership of the company. In it's prior filing, the firm reported owning 3,865K shares, representing a decrease of 0.96%. The firm decreased its portfolio allocation in MUR by 2.40% over the last quarter.
IWM - iShares Russell 2000 ETF holds 3,406K shares representing 2.18% ownership of the company. In it's prior filing, the firm reported owning 3,204K shares, representing an increase of 5.93%. The firm increased its portfolio allocation in MUR by 1.49% over the last quarter.
Murphy Oil Background Information
(This description is provided by the company.)
As an independent oil and natural gas exploration and production company, Murphy Oil Corporation believes in providing energy that empowers people by doing right always, staying with it and thinking beyond possible. Murphy challenges the norm, taps into its strong legacy and uses its foresight and financial discipline to deliver inspired energy solutions. The company sees a future where it is an industry leader who is positively impacting lives for the next 100 years and beyond.
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This story originally appeared on Fintel.
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