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Downgrade Alert for Murphy Oil (MUR)

By James Quinn

Murphy Oil (NYSE:MUR) was downgraded from Neutral to Sell at UBS today. The stock closed yesterday at $43.20 on volume of 1.2 million shares, below average daily volume of 1.8 million.

In the past 52 weeks, shares of Murphy Oil have traded between a low of $41.78 and a high of $68.43 and closed yesterday at $43.20, which is 3% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.8% while the 200-day MA has slid 0.5%.

Murphy Oil Corporation is a worldwide oil and gas exploration and production company with refining and marketing operations in the United States and the United Kingdom. The Company also has exploration and production activities in countries that include United States, Canada, the United Kingdom, Malaysia, and Ecuador. Murphy Oil has retail operations as well in the United States.

Murphy Oil has overhead space with shares priced $43.20, or 13.1% below the average consensus analyst price target of $49.71. Murphy Oil shares should first meet resistance at the 50-day moving average (MA) of $45.14 and find additional resistance at the 200-day MA of $49.23.

SmarTrend recommended that its subscribers protect gains by selling shares of Murphy Oil on May 4th, 2015 by issuing a Downtrend alert when the shares were trading at $46.35. Since that call, shares of Murphy Oil have fallen 6.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: analyst upgrades/downgrades murphy oil

Ticker(s): MUR