| Murphy Oil Hits 52-Week Low on Bearish Crude Outlook | |
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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 $64.82 with a traded volume of 3.9 million shares.
SandRidge Energy, Inc. SD hit a 52-week low of 31 cents per share, closing at the same price with a traded volume of 26.2 million shares.
Zacks Rank
Murphy Oil currently has a Zacks Rank #3 (Hold).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report ROYAL DTCH SH-A (RDS.A): Free Stock Analysis Report OCCIDENTAL PET (OXY): Free Stock Analysis Report MURPHY OIL (MUR): Free Stock Analysis Report SANDRIDGE ENRGY (SD): Free Stock Analysis Report To read this article on Zacks.com click here.
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Occidental Petroleum est une société de production minière de pétrole basée aux Etats-Unis D'Amerique. Occidental Petroleum est cotée aux Etats-Unis D'Amerique. Sa capitalisation boursière aujourd'hui est 51,8 milliards US$ (48,4 milliards €). La valeur de son action a atteint son plus haut niveau récent le 16 mars 2012 à 99,99 US$, et son plus bas niveau récent le 16 octobre 2020 à 10,00 US$. Occidental Petroleum possède 764 580 032 actions en circulation. |