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Upgrade Alert for Murphy Oil (MUR)

By James Quinn

Murphy Oil (NYSE:MUR) was upgraded from Underperform to Market Perform at Raymond James today. The stock closed yesterday at $31.10 on volume of 3.7 million shares, below average daily volume of 4.5 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 $14.30 and a high of $47.72 and closed yesterday at $31.10, 117% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 5.3%.

Murphy Oil has overhead space with shares priced $31.10, or 4.4% below the average consensus analyst price target of $32.54. Murphy Oil shares have support at the 50-day moving average (MA) of $26.45 and additional support at the 200-day MA of $25.95.

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