In a report released yesterday, Ryan Todd from Piper Jaffray reiterated a Hold rating on Murphy Oil Corp (NYSE: MUR), with a price target of $43. The company’s shares closed yesterday at $32.67.
According to TipRanks.com, Todd is a 3-star analyst with an average return of 1.3% and a 50.6% success rate. Todd covers the Basic Materials sector, focusing on stocks such as Continental Resources, Anadarko Petroleum, and Concho Resources.
Currently, the analyst consensus on Murphy Oil Corp is a Hold with an average price target of $38.25, which is a 17.1% upside from current levels. In a report issued on October 19, Mizuho Securities also upgraded the stock to Hold with a $41 price target.
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Based on Murphy Oil Corp’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $45.52 million. In comparison, last year the company had a GAAP net loss of $65.89 million.
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Murphy Oil Corp. is a holding company, which engages in the exploration and production of oil and gas. It operates through the following geographical segments: United States, Canada, Malaysia, and Other. Its products include oil and gas liquids, natural gas, and synthetic oil.
