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Murphy Oil Corporation (NYSE: MUR): What’s Next After The Stock Plunge?

The trading price of Murphy Oil Corporation (NYSE:MUR) floating lower at last check on Wednesday, June 22, closing at $31.94, -6.55% lower than its previous close.

Traders who pay close attention to intraday price movement should know that it has been fluctuating between $33.51 and $35.09. The company’s P/E ratio in the trailing 12-month period was 51.87, while its 5Y monthly beta was 2.55. In examining the 52-week price action we see that the stock hit a 52-week high of $45.79 and a 52-week low of $18.44. Over the past month, the stock has gained 0.03% in value.

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Murphy Oil Corporation, whose market valuation is $5.74 billion at the time of this writing, is expected to release its quarterly earnings report Aug 03, 2022 – Aug 08, 2022. The dividend yield on the company stock is 2.05%, while its Forward Dividend ratio is 0.70. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by $1.47 per share this quarter, however they have predicted annual earnings per share of $5.8 for 2022 and $7.5 for 2023. It means analysts are expecting annual earnings per share growth of 349.60% this year and 29.30% next year.

Analysts have forecast the company to bring in revenue of $874.11 million for the current quarter, with the likely lows of $726 million and highs of $1.02 billion. The average estimate suggests sales will likely up by 59.00% this quarter compared to what was recorded in the comparable quarter last year. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue in 2022 is $3.51 billion. The company’s revenue is forecast to grow by 52.90% over what it did in 2022.

A company’s earnings reviews provide a brief indication of a stock’s direction in the short term, where in the case of Murphy Oil Corporation 2 upward and no downward comments were posted in the last 7 days. On the technical side, indicators suggest MUR has a 50% Buy on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 50% Buy, while an average of long term indicators suggests that the stock is currently 50% Sell.

Here is the average analyst rating on the stock as represented by 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock should be considered as either strong buy or strong sell respectively. The number of analysts that have assigned MUR a recommendation rating is 16. Out of them, 8 rate it a Hold, while 5 recommend Buy, whereas 2 assign an Overweight rating. 1 analyst(s) have tagged Murphy Oil Corporation (MUR) as Underweight, while 0 advise Sell. Analysts have rated the stock Overweight, likely urging investors to take advantage of the opportunity to add to their holdings of the company’s shares.

If we dig deeper into the stock’s outlook, we see that the stock’s PEG is 1.29, which symbolizes a positive outlook. A quick review shows that MUR’s price is currently -22.03% off the SMA20 and -18.54% off the SMA50. The RSI metric on the 14-day chart is currently showing 30.15, and weekly volatility stands at 7.05%. When measured over the past 30 days, the indicator reaches 5.57%. Murphy Oil Corporation (NYSE:MUR)’s beta value is currently sitting at 2.43, while the Average True Range indicator is currently displaying 2.34. With analysts defining $38.00-$68.00 as the low and high price targets, we arrive at a consensus price target of $50.29 for the trailing 12-month period. The current price is about -18.97% off the estimated low and -112.9% off the forecast high, based on this estimate. Investors will be thrilled if MUR’s share price rises to $49.50, which is the median consensus price. At that level, MUR’s share price would be -54.98% below current price.

To see how Murphy Oil Corporation stock has been performing today in comparison to its peers in the industry, here are the numbers: MUR stock’s performance was -6.55% at last check in today’s session, and 37.10% in the past year, while Valero Energy Corporation (VLO) has been trading -2.04% in recent session and positioned 45.62% higher than it was a year ago. Another comparable company TotalEnergies SE (TTE) saw its stock trading -2.88% lower in today’s session but was up 10.88% in a year. Furthermore, Hess Corporation (HES) showed a decrease of -4.32% today while its price kept inclining at 19.18% over the past year. Murphy Oil Corporation has a P/E ratio of 51.87, compared to Valero Energy Corporation’s 18.76 and TotalEnergies SE’s 8.13. Also during today’s trading, the S&P 500 Index has surged 0.45%, while the Dow Jones Industrial also saw a positive session, up 0.23% today.

An evaluation of the daily trading volume of Murphy Oil Corporation (NYSE:MUR) indicates that the 3-month average is 1.93 million. However, this figure has increased over the past 10 days to an average of 2.15 million.

Currently, records show that 154.92 million of the company’s shares remain outstanding. The insiders hold 1.90% of outstanding shares, whereas institutions hold 83.60%. The stats also highlight that short interest as of May 30, 2022, stood at 8.57 million shares, resulting in a short ratio of 4.22 at that time. From this, we can conclude that short interest is 5.52% of the company’s total outstanding shares. It is noteworthy that short shares in May were down slightly from the previous month’s figure, which was 9.53 million. However, since the stock’s price has seen 30.91% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.

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