Short Term Price Target on Murphy Oil Corporation (MUR)

Murphy Oil Corporation (NYSE:MUR) : The consensus price target for Murphy Oil Corporation (NYSE:MUR) is $29.38 for the short term with a standard deviation of $6.26. The most optimist securities analyst among the 8 who monitor the stock believes that the stock can reach $36, however, the pessimist price target for the company is $18.

Murphy Oil Corporation has dropped 2.04% in the last five trading days, however, the shares have posted positive gains of 3.42% in the last 4 weeks. Murphy Oil Corporation is up 32.4% in the last 3-month period. Year-to-Date the stock performance stands at 46.13%. Also, In a research note released to the investors, Raymond James upgrades its rating on Murphy Oil Corporation (NYSE:MUR).The analysts at the brokerage house have a current rating of Market Perform on the shares. Earlier, the shares were rated a Underperform by the brokerage firm. The rating by the firm was issued on June 20, 2016.

Murphy Oil Corporation (NYSE:MUR) : Zacks Investment Research ranks Murphy Oil Corporation (NYSE:MUR) as 3, which is a Hold recommendation. Not everyone is convinced about the stocks future, hence, the stock receives 2 Sell recommendation. A total of 9 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 11 research analysts is 3.15, which indicates as a Hold.

Murphy Oil Corporation (NYSE:MUR): The stock opened at $31.88 on Thursday but the bulls could not build on the opening and the stock topped out at $32.05 for the day. The stock traded down to $30.93 during the day, due to lack of any buying support eventually closed down at $31.75 with a loss of -0.81% for the day. The stock had closed at $32.01 on the previous day. The total traded volume was 3,322,050 shares.

In an insider trading activity, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the officer (Vice President & Treasurer) of Murphy Oil Corp /De, Gardner John B had sold 1,246 shares worth of $36,620 in a transaction dated May 23, 2016. In this transaction, 1,246 shares were sold at $29.39 per share.

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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