Market Overview

UPDATE: Deutsche Bank Reiterates Hold Rating, Raises PT on Murphy Oil Corporation

Share:
Related MUR
Notable Stocks Trading Ex-Dividend Thursday, August 11
4 Takeaways From Barclays' Oil Stock Coverage

In a report published Wednesday, Deutsche Bank reiterated its Hold rating on Murphy Oil Corporation (NYSE: MUR), and raised its price target from $62.00 to $68.00.

Deutsche Bank noted, “Skate to where it's going next. We thought Murphy management might accelerate a strategy that has been, in some ways, drifting for several years. In the event full capitulation less than two weeks after Third Point sent an activist argument to its investors felt hasty. To paraphrase Wayne Gretzky, we can't keep skating after the Murphy puck, we need to skate to where it's going next, and that, in our space, first has to be Oxy and Hess. In both cases, investors have major questions over strategy and execution, and both are trading below NAV. The sleeper is ConocoPhillips, which easily has the scale for a major re-up on disposals.”

Murphy Oil Corporation closed on Tuesday at $63.74.

Latest Ratings for MUR

DateFirmActionFromTo
Jul 2016UBSMaintainsNeutral
Jul 2016BarclaysUpgradesEqual-weightOverweight
Jun 2016Raymond JamesUpgradesUnderperformMarket Perform

View More Analyst Ratings for MUR
View the Latest Analyst Ratings

Posted-In: Deutsche BankAnalyst Color Price Target Analyst Ratings

 

Related Articles (MUR)

View Comments and Join the Discussion!