Is Murphy Oil Corporation (NYSE:MUR) a Buy or a Sell? What Does JP Morgan Think?


Why Has JP Morgan Given Murphy Oil Corporation (NYSE:MUR) a $29.00 Price Target

Stock research analysts at JP Morgan started coverage on Murphy Oil Corporation (NYSE:MUR) with a key “Neutral” rating. The target PPS for MUR is set to $29.00. It would indicate a possible upside of 23.19% from firm’s previous stock close.

From a total of 14 analysts covering Murphy Oil Corporation (NYSE:MUR) stock, 0 rate it a ”Buy”, 4 a “Sell”, and 14 a ”Hold”. This means that 0% of the ratings are positive. The highest target price is $36 while the lowest target price is $26. The mean of all analyst targets is $32.36 with a 67.50% above today’s ($23.54) stock price. Murphy Oil Corporation was the topic of 11 analyst reports since July 22, 2015 according to the firm StockzIntelligence Inc. Zacks downgraded shares on August 11 to “Buy” rating. Oppenheimer downgraded MUR stock in a recent report from July 31 to “Perform” rating. Finally, Credit Suisse upgraded the stock to “Neutral” rating in a report issued on a July 22.

The stock decreased 0.59% or $0.14 during the last trading session, striking $23.54. Approximately shares of stock traded hands. Murphy Oil Corporation (NYSE:MUR) has declined 49.96% since May 6, 2015 and is downtrending. It has underperformed by 49.16% the S&P500.

The overall sentiment of institutions has is 1.08 in Q2 2015. Its the same as in 2015Q2. The ratio is without change, as 50 institutions have sold all the shares of Murphy Oil Corporation that they owned while 127 funds have taken shares off the table. only 46 funds have purchased shares for the first time while 146 added to their positions. These institutions now hold 142.14 million shares or 6.24% less than the 151.60 million shares they owned in 2015Q2.

The Fund Bancorpsouth Inc currently is holding shares equating to 12.99% of its total portfolio in Murphy Oil Corporation representing a total of 4.20 million shares. Another fund,Bank Of The Ozarks, is holding a total of 879,753 shares equating to 8.11% of their holdings. Additionally, Signature Financial Management Inc. has a 388,125 share stake in Murphy Oil Corporation which represents 5.77% of their total portfolio. The Fund, Elm Ridge Management Llc, based out of New York, has also built up a stake in the stock, which represents a total of 2.38% of their total portfolio. Finally Grace & White Inc Ny, a fund which is based in the state of New York reported a total holdings of 309,250 shares.

Insider activity is a very important aspect to track on any stock. Going back to May 15, 2015, shareholders of Murphy Oil Corporation have witnessed 0 buys, and a total of 1 sale equating to a net activity of approximately $12,904 . Mirosh Walentin sold 400 shares worth approximately $12,904. Hammock Kelli M sold 7,000 shares worth approximately $312,145.

Murphy Oil Corporation is an oil and gas exploration and production company. The company has a market cap of $4.07 billion. The Company’s exploration and production business explores for and produces crude oil, natural gas and natural gas liquids across the world. It currently has negative earnings. This business maintains upstream operating offices in locations, including Calgary, Alberta and Kuala Lumpur, Malaysia.

According to Zacks Investment Research, “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 and crude oil transportation and trading operations in Canada.” Get a free copy of the Zacks research report on Murphy Oil Corporation (MUR).