Brean Murray Carret & Co. Downgrades Murphy Oil Corp. (MUR) to Hold; Production Guidace Issues Continue
Tweet
Share
E-mailGet Alerts MUR Hot Sheet
Price: $38.28 --0%
Rating Summary:
11 Buy, 19 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 7 | Down: 5 | New: 23
Rating Summary:
11 Buy, 19 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 7 | Down: 5 | New: 23
Join SI Premium – FREE
Brean Murray Carret & Co. downgraded Murphy Oil Corp. (NYSE: MUR) from Buy to Hold.
Analyst, Raymond Deacon, said, "We are downgrading Murphy Oil (NYSE: MUR) to Hold because the company's first quarter results highligh ongoing technical difficulties at its key property in Malaysia, while countervailing oily exploration catalysts appear skewed to the second half of 2012. MUR's first quarter results were disappointing...Moreover, we expect management to guide to a 2015 production rate of around 260 MBoe/d of oil, materially lower than its previous 300 MBoe/d target at Murphy's analyst day this week."
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 $50.86 yesterday.
Analyst, Raymond Deacon, said, "We are downgrading Murphy Oil (NYSE: MUR) to Hold because the company's first quarter results highligh ongoing technical difficulties at its key property in Malaysia, while countervailing oily exploration catalysts appear skewed to the second half of 2012. MUR's first quarter results were disappointing...Moreover, we expect management to guide to a 2015 production rate of around 260 MBoe/d of oil, materially lower than its previous 300 MBoe/d target at Murphy's analyst day this week."
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 $50.86 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- JPMorgan Downgrades Limbach Holdings (LMB) to Underweight
- DZ Bank Downgrades Frontline Ltd. (FRO) to Sell
- Baird Downgrades Teradyne (TER) to Neutral
Create E-mail Alert Related Categories
DowngradesRelated Entities
Brean Murray Carret & Co.Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
