Price Target Update on Murphy Oil Corporation (NYSE:MUR)

Murphy Oil Corporation (NYSE:MUR) : The highest short term price target forecast on Murphy Oil Corporation (NYSE:MUR) is $36 and the lowest target price is $23. A total of 8 equity analysts are currently covering the company. The average price of all the analysts is $30.88 with a standard deviation of $4.26.

Other Equity analysts have also commented on the company shares. Equity analysts at the Brokerage firm Goldman Sachs maintains its rating on Murphy Oil Corporation (NYSE:MUR). The rating major has initiated the coverage with sell rating on the shares. The Analysts at Goldman Sachs raises the price target from $19 per share to $20 per share. The rating by the firm was issued on May 5, 2016.

Murphy Oil Corporation (NYSE:MUR): stock turned positive on Thursday. Though the stock opened at $31.96, the bulls momentum made the stock top out at $32.57 level for the day. The stock recorded a low of $31.86 and closed the trading day at $32.41, in the green by 2.66%. The total traded volume for the day was 2,188,056. The stock had closed at $31.57 in the previous days trading.

The company shares have dropped -25.15% from its 1 Year high price. On Jun 25, 2015, the shares registered one year high at $43.04 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $30.35 and the 200 Day Moving Average price is recorded at $24.67. On the companys insider trading activities, The Securities and Exchange Commission has divulged that Gardner John B, officer (Vice President & Treasurer) of Murphy Oil Corp /De, had unloaded 1,246 shares at an average price of $29.39 in a transaction dated on May 23, 2016. The total value of the transaction was worth $36,620.

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.

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