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Upgrade Alert for Murphy Oil (MUR)

By Shiri Gupta

Murphy Oil (NYSE:MUR) was upgraded from Equal Weight to Overweight at Barclays Capital today. The stock closed yesterday at $31.90 on volume of 4.6 million shares, above average daily volume of 4.5 million.

Potential upside of 2.0% exists for Murphy Oil, based on a current level of $31.90 and analysts' average consensus 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.

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 $31.90, 123% 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%.

SmarTrend is tracking the current trend status for Murphy Oil and will alert subscribers who have MUR in their portfolio or watchlist when shares have changed trend direction.

Keywords: analyst upgrades/downgrades murphy oil

Ticker(s): MUR