Brean Murray Carret & Co. Starts Murphy Oil Corp. (MUR) at Buy; Hidden Value in Downstream Assets

Brean Murray Carret & Co. initiates coverage on Murphy Oil Corp. (NYSE: MUR) with a Buy. PT $71.00.

Analyst, Raymond Deacon, said, "2012 looks to be a catalyst-laden year for Murphy, with a timetable for its possible downstream segment spinoff expected mid-year, a 12-15 well int'l exploration program, and oily production growth from ramping activity in its portfolio of N. American resource plays. Murphy is well positioned in light of recent weakness in N. American gas market, with Q4 production consisting of 54% crude and liquids vs. 24% N. American natural gas..."

Brean sees FY12 EPS at $6.39 and FY13 at $7.56.

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 $60.93 yesterday.

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