In a report released today, Devin McDermott from Morgan Stanley maintained a Sell rating on Murphy Oil Corp (NYSE: MUR), with a price target of $24. The company’s shares closed yesterday at $29.89.
According to TipRanks.com, McDermott is a 3-star analyst with an average return of 6.6% and a 46.2% success rate. McDermott covers the Basic Materials sector, focusing on stocks such as Occidental Petroleum, Anadarko Petroleum, and Devon Energy Corp.
Currently, the analyst consensus on Murphy Oil Corp is a Hold with an average price target of $33.40.
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Based on Murphy Oil Corp’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $45.52 million. In comparison, last year the company had a GAAP net loss of $17.57 million.
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Murphy Oil Corp. is a holding company, which engages in the exploration and production of oil and gas. It operates through the following geographical segments: United States, Canada, Malaysia, and Other. Its products include oil and gas liquids, natural gas, and synthetic oil.
