Murphy Oil Corporation (MUR) : Traders are bullish on Murphy Oil Corporation (MUR) as it has outperformed the S&P 500 by a wide margin of 3.19% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 4.92%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 4.88% in the last 1 week, and is up 3.58% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Murphy Oil Corporation is up 3.18% in the last 3-month period. Year-to-Date the stock performance stands at 39.61%. The stock has recorded a 20-day Moving Average of 8.02% and the 50-Day Moving Average is 2.36%.
Murphy Oil Corporation (NYSE:MUR): The stock opened at $30.21 on Friday but the bulls could not build on the opening and the stock topped out at $30.25 for the day. The stock traded down to $29.59 during the day, due to lack of any buying support eventually closed down at $30.06 with a loss of -1.35% for the day. The stock had closed at $30.47 on the previous day. The total traded volume was 2,348,458 shares.
Also, Equity Analysts at the Brokerage Firm, UBS, maintains their rating on the shares of Murphy Oil Corporation (NYSE:MUR). UBS has a Neutral rating on the shares. As per the latest research report, the brokerage house lowers the price target to $29 per share from a prior target of $33. The rating by the firm was issued on July 28, 2016.
Murphy Oil Corporation is an oil and gas exploration and production company. The Companys exploration and production business explores for and produces crude oil, natural gas and natural gas liquids across the world. This business maintains upstream operating offices in locations, including Calgary, Alberta and Kuala Lumpur, Malaysia. The Companys crude oil, condensate and natural gas liquids production, as of 2014 averaged 151,647 barrels per day. The Company has operations in United States, Canada, Malaysia and all other countries, including Australia, Brunei, Vietnam, Suriname, Cameroon and Equatorial Guinea, among others. As of December 31, 2014, total United States proved reserves were 204.9 million barrels of crude oil, 29.1 million barrels of natural gas liquids and 226 billion cubic feet of natural gas. In Canada, it owns an interest in three non-operated assets, the Hibernia and Terra Nova fields offshore Newfoundland in the Jeanne dArc Basin and Syncrude Canada Ltd.