Barclays Maintains an 'Overweight' on Murphy Oil Corp. (MUR); Strong Quarter, but Weak 2012 Guidance Announcement
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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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Barclays maintains an 'Overweight' on Murphy Oil Corp. (NYSE: MUR) price target of $77.00.
Barclays analyst says, "After several quarters of disappointing news, MUR reported strong 3Q earnings of $1.73/share compared to our estimate of $1.06/share and consensus of $1.19/share. Excluding the $17-million gain on asset sales while including adding back the US refining operations (we think most investors still included the US refining segment in their estimates), we think MUR earned $2.00/share."
"We would mark this quarter as mixed for Murphy. The company's asset values are rich and valuation still remains low. In addition, operating risk has reduced as Kikeh comes back on stream in 4Q11. And given our biased towards oil levered names, we would continue to hold onto shares over the next few months. However, we remain guarded on the stock and will continue to monitor the shares closely over the coming months.
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 $55.39 yesterday.
Barclays analyst says, "After several quarters of disappointing news, MUR reported strong 3Q earnings of $1.73/share compared to our estimate of $1.06/share and consensus of $1.19/share. Excluding the $17-million gain on asset sales while including adding back the US refining operations (we think most investors still included the US refining segment in their estimates), we think MUR earned $2.00/share."
"We would mark this quarter as mixed for Murphy. The company's asset values are rich and valuation still remains low. In addition, operating risk has reduced as Kikeh comes back on stream in 4Q11. And given our biased towards oil levered names, we would continue to hold onto shares over the next few months. However, we remain guarded on the stock and will continue to monitor the shares closely over the coming months.
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 $55.39 yesterday.
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