El Dorado, AR-based Murphy Oil Corporation’s MUR shares hit a 52-week low of $25.12 per share on Sep 23 to finally close a tad higher at $25.27. Volume was also outsized with about 4 million shares changing hands.

This drop in price continues the recent downtrend for Murphy as the oil and gas company has lost about 8.5% over the past month and is down nearly 50% year to date.

The obvious reason taking this oil stock down is the declining oil and gas price. Last week, the oil companies suffered a Friday meltdown after the U.S. Federal Reserve decided to keep the key rates unchanged. Natural gas prices also tanked to their lowest level since Jun 5 on weather-induced demand concerns.

Moreover, Murphy Oil is up against strong competition from major integrated oil companies, state-owned foreign oil companies, independent producers of oil and natural gas and independent refining companies. In addition, the oil industry as a whole competes with other industries in meeting energy requirements across the globe.

Murphy Oil’s second quarter results were also affected by a huge year-over-year slide in realized sales prices. The company reported a loss of 48 cents per share as against earnings of $1.38 in the prior year.

Other 52-Week Lows

Apart from Murphy Oil, a number of other oil and gas operators hit a 52-week low in the last trading session. The following are a few that suffered yesterday.

Royal Dutch Shell plc RDS.A hit a 52-week low of $47.28 per share, closing a tad higher at $47.34 with a traded volume of 4.9 million shares.

Occidental Petroleum Corporation OXY hit a 52-week low of $64.67 per share, closing slightly higher at $64.82 with a traded volume of 3.9 million shares.

SandRidge Energy, Inc. SD hit a 52-week low of 31 cents per share, closing at the same price with a traded volume of 26.2 million shares.

Zacks Rank

Murphy Oil currently has a Zacks Rank #3 (Hold).

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