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Murphy Oil: A play for the U.S. gasoline market rebound |
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| Nov 12, 2009 11:30 PM UTC |
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Tracked Blogger
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Via BloggingStocks:
Filed under: Stocks to Buy  Just call Murphy Oil (MUR) a classic low-profile play, which is why I'm reiterating my Buy rating for the company, first recommended on April 29, 2009 at a price of $47.80. If you bought MUR in April, you're up about 27%.Murphy reported Q3 EPS of 98 cents, roughly in-line with the First Call Q3 EPS estimate of 99 cents, and course Wall Street sold the stock, but just view that pull-back as a Buy opportunity. The reason? The argument here is that the refining sector (85% of Murphy's revenue) is just about at its weakest point, with U.S. gasoline demand likely to rebound in 2010 (although demand growth will be lower than during the previous economic expansion, due to higher gasoline/diesel prices). Murphy operates about 1,150 gas stations in the U.S. Continue reading Murphy Oil: A play for the U.S. gasoline market rebound Murphy Oil: A play for the U.S. gasoline market rebound originally appeared on BloggingStocks on Thu, 12 Nov 2009 18:30:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments
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