UBS Maintains a 'Neutral' on Murphy Oil Corp. (MUR); 3Q Beats; 4Q Production Guidance Light
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Price: $37.41 -2.27%
Rating Summary:
11 Buy, 19 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
11 Buy, 19 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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UBS maintains a 'Neutral' on Murphy Oil Corp. (NYSE: MUR) price target raised from $57 to $59.
UBS analyst said, "3Q EPS/CFPS of $1.73/$4.22 beat consensus of $1.20/$3.12 & UBSe $1.12/$3.41 on much higher oil and gas realizations benefitting EPS by $0.24/sh & several unusual items (FX, net tax items, lower than expected exploration expense) boosting EPS by another $0.42. 3Q highlights: 4% YoY decline in production to 175 MBoed (above guidance of 173 MBoed), 22% rise in costs to $6.77/Mcfe (5% below UBSe), & a 27% rise in price realizations (7% above UBSe)...We are raising 2011-12E EPS/CFPS to $5.95/$14.75 & $4.10/$13.50 from $5.05/$13.80 and $3.35/$13.05, respectively, on higher crude price realization assumptions."
For more ratings news on Murphy Oil Corp. click here and for the rating history of Murphy Oil Corp. click here.
Shares of Murphy Oil Corp. closed at $55.63 yesterday.
UBS analyst said, "3Q EPS/CFPS of $1.73/$4.22 beat consensus of $1.20/$3.12 & UBSe $1.12/$3.41 on much higher oil and gas realizations benefitting EPS by $0.24/sh & several unusual items (FX, net tax items, lower than expected exploration expense) boosting EPS by another $0.42. 3Q highlights: 4% YoY decline in production to 175 MBoed (above guidance of 173 MBoed), 22% rise in costs to $6.77/Mcfe (5% below UBSe), & a 27% rise in price realizations (7% above UBSe)...We are raising 2011-12E EPS/CFPS to $5.95/$14.75 & $4.10/$13.50 from $5.05/$13.80 and $3.35/$13.05, respectively, on higher crude price realization assumptions."
For more ratings news on Murphy Oil Corp. click here and for the rating history of Murphy Oil Corp. click here.
Shares of Murphy Oil Corp. closed at $55.63 yesterday.
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