HomeAnalyst RatingsMurphy Oil Stock Gets Reiterated At KeyBanc. It's Still Overweight

Murphy Oil [MUR] Stock Gets Reiterated At KeyBanc. It’s Still Overweight

KeyBanc maintained its Murphy Oil [MUR] rating to the equivalent of Overweight but changed the price target to $15 from $13, in a research note dated 2021-01-07. That figure represents around a 2.11% premium from where the company’s shares closed on Wednesday. Other analysts also revised their coverage, with Morgan Stanley’s analysts upgrading the shares from “an Underweight” rating to “an Equal-weight” rating in a research note to investors issued in mid December. Meanwhile, Scotiabank had lowered its rating on MUR to “Sector underperform” from the earlier “Sector perform”, in a research note produced for clients September 24, 2020. In addition, there was an upgrade from MKM Partners on September 14, 2020. The rater changed MUR from “a Neutral” to “a Buy”.

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Is Murphy Oil Corporation [NYSE:MUR] a Good Buy Right Now?

It should be noted that MUR technical indicators for short, intermediate as well as long term progress have placed an overall average of 40% as Buy. The average signal changed from 24% Buy in the last week and compares with 8% Buy in the past month. Data from Murphy Oil Corporation’s Trend Spotter indicated that the signals were Strongest. The stock current average is 4.58 million shares in the past 20 days and the short term average signal indicates a 100% Buy. In the last 50 days, the average trading volume was 4.63 million shares while the medium term average advocated for 50% Sell. The average long-term signal stands at 50% Buy and the 100-day average volume stands at 4.69 million shares.

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MUR Price Performance

On Wall Street, Murphy Oil Corporation [NYSE:MUR] finished Wednesday’s session up 8.01% at $14.69. The stock went up to $15.055 at the same session while its lowest single day price was $13.39. In the last five days, it saw a rise of about 21.71%, Murphy Oil Corporation shares gained by almost 21.40% since the beginning of the year. However, the share price has dropped to as low as -47.76% below its one year high. On 01/06/21, the company shares recorded $15.06, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/04/21, the same year at $12.05. The company’s shares have declined by -47.01% in the past year. The 50-day SMA achieved is $10.60 while the 200-day SMA is $11.29. Volume gained to 12.0 million from 4.78 million in the previous session.

MUR Stock Support And Resistance Levels

On the 24-hour scale, the immediate backing is perceived around 13.70 level, and in case of violation of this particular level, it will cause more drop to 12.71 level. On the upper level, 16.04 is still the key resistance. The stock may increase to the subsequent resistance at 15.37. The Relative Strength Index (RSI) pinned on the 14-day chart is 71.09, implying an overbought technical stance while the MACD stands at 1.18, meaning price will increase in the next trading period. Percent R indicator moved to 9.35%, implying bullish price movement. Stochastic %K at 76.05% suggest selling the stock.

What is the short interest in Murphy Oil Corporation?

Short interest in the Murphy Oil Corporation stock has plunged, decreasing by -3.47 million shares to total 20.67 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 17.2 million, data from Yahoo Finance shows. The increase of 16.79% suggests the stock saw some increased bearish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 23.05% of the overall float for the stock.

Murphy Oil Corporation’s Biggest Shareholders: Who Owns Murphy Oil Corporation [MUR]?

Filings by Fidelity Management & Research Co showed that the firm now holds a total of 20,097,392 shares or roughly 13.08% of the outstanding MUR shares. This means their shares have increased by 1,023,834 from the 20,097,392 the investor reportedly held in its prior 13-F filing. With the conclusion of the purchase, The Vanguard Group, Inc. updated stake is worth $136,161,758. Details in the latest 13F filings reveal that BlackRock Fund Advisors disposed off their -6.37% stake valued at $118,249,184 while Dimensional Fund Advisors LP added theirs at $77,902,236. During the last quarter, BlackRock Fund Advisors liquidated -799,360 of its shares in Murphy Oil Corporation while Dimensional Fund Advisors LP bought 213,340 shares. The SSgA Funds Management, Inc.’s holdings currently number 7,371,140 shares at $108282046.6. According to the firm’s last 13F report, Hotchkis & Wiley Capital Manageme shares in the company at filing stood at 5,144,104 shares, roughly $51,749,686.

MUR Earnings Forecast For The Current Quarter

Murphy Oil Corporation [MUR] is expected to report weak earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $487.79M and an earnings per share of -$0.08 for Dec 2020. Looking further ahead, the company is expected to report revenue of $462.04M at an EPS of -$0.25 for Mar 2021. The estimates represent downside of -11.50% and -4.00% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.

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MUR Earnings Estimates For The Current Year

For the financial year, Murphy Oil Corporation [NYSE:MUR] is expected to bring in revenue of $2.14B. The returns are nearly $-690.0 million lower than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, the estimate put it at -1, lower than that of FY19 by -$1.87. Estimates put this year’s earnings growth at -214.90%, and at an annual 0.49% over the next 5-year period. As for sales, forecasts are for a decrease of -24.50% in the current fiscal year and a further -11.50% over the following year.

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