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Downgrade Alert for Murphy Oil (MUR)

By James Quinn

Murphy Oil (NYSE:MUR) was downgraded from Peer Perform to Underperform at Wolfe Research today. The stock closed yesterday at $49.03 on volume of 3.4 million shares, above average daily volume of 1.7 million.

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.

In the past 52 weeks, Murphy Oil share prices have been bracketed by a low of $47.68 and a high of $68.43 and closed yesterday at $49.03, 3% above that low price. The 200-day and 50-day moving averages have moved 0.17% lower and 0.68% lower over the past week, respectively.

Murphy Oil has overhead space with shares priced $49.03, or 23.2% below the average consensus analyst price target of $63.83. Murphy Oil shares should first meet resistance at the 50-day moving average (MA) of $53.22 and find additional resistance at the 200-day MA of $59.86.

SmarTrend is monitoring the recent change of momentum in Murphy Oil. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Murphy Oil in search of a potential trend change.

Keywords: analyst upgrades/downgrades murphy oil

Ticker(s): MUR