Murphy Oil Corporation operates as an oil and gas exploration and production company worldwide. It operates in two segments, Exploration and Production, and Refining and Marketing. The Exploration and Production segment explores and produces crude oil, natural gas, natural gas liquids, condensate, and synthetic oil. It holds interests in Medusa field in Mississippi Canyon Blocks 538/582 in the United States. This segment also holds interests in Hibernia and Terra Nova fields in the Jeanne d’Arc Basin, offshore Newfoundland; two heavy oil areas and one natural gas area in the Western Canadian Sedimentary Basin; and the Tupper property in northeast British Columbia. Further, it has interests in 8 production sharing contracts covering approximately 9.6 million acres in Malaysia; in Block 16 in Ecuador; and 2 production sharing agreements covering 2 offshore blocks in the Republic of Congo, as well as owns interest, through a joint venture, in a property located approximately 25 miles north of Fort McMurray, Alberta. The Refining and Marketing segment refines crude oil and other feedstocks into petroleum products, such as gasoline and distillates; buys and sells crude oil and refined products; and transports and markets petroleum products. The company was founded in 1950 as Murphy Corporation and changed its name to Murphy Oil Corporation in 1964. Murphy Oil Corporation is based El Dorado, Arkansas.
Analysts'
Recommendation: | Hold |
| 30 Days Ago: | Hold |
|
| Analysts' Target: | $87 |
| Analysts' Targets |
| Lehman Brothers | $80 |
| Equalweight |
Friday, May 02, 2008
|
| Friedman, Billings, Ramsey & C | $78 |
| Hold |
Tuesday, April 01, 2008
|
| Deutsche Bank Securities | $104 |
| Accumulate |
| Friday, March 28, 2008 |
EARNINGS: Last week of July
STATUS: Breakout test. MUR broke out from a 4.5 month ascending base in mid-May, rallying to 100, often a magnet that attracts a stock and then a barrier when it gets there. It faded and formed the current 6 week pattern, testing the move by coming back to support at the key 50 day EMA (91.47). Then a week back it started back up on strong trade, moving back to 100, breaking over it on Wednesday, but then succumbing to the selling in the energy sector. Even with that, it is in very good position, tapping the 50 day EMA once more on the Thursday low and then rebounding to flat. It is in excellent position to start the next run higher.
Volume: 2.095M Avg Volume: 1.838M
BUY POINT: $95.48 Volume=2.8M Target=$109.95 Stop=$91.32
POSITION: MUR JS - Oct. $95c (51 delta) &/or Stock
$94.27 (07/07/08)
