UBS Maintains a 'Neutral' on Murphy Oil Corp. (MUR); Lowering Production Guidance Again

May 3, 2012 1:07 PM EDT
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Price: $31.82 +0.70%

Rating Summary:
    4 Buy, 12 Hold, 4 Sell

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    Up: 30 | Down: 30 | New: 23
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UBS maintains a 'Neutral' on Murphy Oil Corp. (NYSE: MUR) price target lowered from $66 to $60.

Analyst, William A. Featherson, said, "1Q results miss on weaker than expected R&M results...MUR lowered 2012 production guidance to 193 MBoed from 200 MBoed (the 8th full year guidance reduction in the past 9 quarters) due to reduced Tupper activity, unplanned Syncrude downtime & Kikeh workover delays. Its 2Q production target of 185 MBoed (-5% QoQ) is below consensus’ 198 MBoed & midpoint EPS guidance of $1.35-1.60 is shy of consensus’ $1.55. We’re revising 2012-13 EPS/CFPS to $5.60/$14.90 & $4.95/$14.80 from $5.60/$15.05 & $4.85/$14.80 on lower gas production and wider liquids price diffs, partly offset by lower costs."

For an analyst ratings summary and ratings history on Murphy Oil Corp. click here. For more ratings news on Murphy Oil Corp. click here.

Shares of Murphy Oil Corp. closed at $55.29 yesterday.

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