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AI Analysis of MUR
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Evaluation of Murphy Oil Corporation stock downgraded after the last trading session.
(Updated on Apr 11, 2024)

Buy or Hold candidate since Feb 29, 2024 Gain 20.24% PDF

The Murphy Oil Corporation stock price fell by -0.85% on the last day (Thursday, 11th Apr 2024) from $48.11 to $47.70. During the last trading day the stock fluctuated 1.63% from a day low at $47.29 to a day high of $48.06. The price has risen in 7 of the last 10 days and is up by 5.74% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -364 thousand shares and in total, 1 million shares were bought and sold for approximately $54.12 million.

The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 28.61% during the next 3 months and, with a 90% probability hold a price between $56.18 and $63.91 at the end of this 3-month period.

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MUR Signals & Forecast

The Murphy Oil Corporation stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $48.24. On a fall, the stock will find some support from the long-term average at approximately $43.59. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, April 05, 2024, and so far it has fallen -2.59%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

Support, Risk & Stop-loss for Murphy Oil Corporation stock

On the downside, the stock finds support just below today's level from accumulated volume at $40.80 and $38.41. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Murphy Oil Corporation finds support just below today's level at $40.80. If this is broken, then the next support from accumulated volume will be at $38.41 and $38.30.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.770 between high and low, or 1.63%. For the last week, the stock has had daily average volatility of 1.92%.

Our recommended stop-loss: $45.58 (-4.45%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 4 days ago.)

Trading Expectations (MUR) For The Upcoming Trading Day Of Monday 15th

For the upcoming trading day on Monday, 15th we expect Murphy Oil Corporation to open at $47.68, and during the day (based on 14 day Average True Range), to move between $46.77 and $48.63, which gives a possible trading interval of +/-$0.93 (+/-1.94%) up or down from last closing price. If Murphy Oil Corporation takes out the full calculated possible swing range there will be an estimated 3.88% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $47.92 (0.46%) than the support at $40.80 (14.47%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Murphy Oil Corporation stock A Buy?

Murphy Oil Corporation holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: -0.635 Hold/Accumulate Downgraded

Predicted Opening Price for Murphy Oil Corporation of Monday, April 15, 2024

Fair opening price April 15, 2024 Current price
$47.68 ( 0.0349%) $47.70

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for MUR

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 48.45 1.58 %
R2 48.16 0.96 %
R1 47.98 0.582 %
Current price: 47.70
Support S1 47.39 -0.652 %
S2 47.21 -1.03 %
S3 46.91 -1.65 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 48.37 1.40 %
R2 48.11 0.86 %
R1 47.92 0.461 %
Current price 47.70
Support S1 40.80 -14.47%
S2 38.41 -19.48%
S3 38.30 -19.71%

MUR Dividend Payout History


# Declaration Date Ex-Date Pay Date Amount Yield
1 May 17, 2024 May 17, 2024 Jun 03, 2024 $0.300 0.629%
2 Jan 25, 2024 Feb 16, 2024 Mar 04, 2024 $0.300 0.773%
3 Oct 04, 2023 Nov 10, 2023 Dec 01, 2023 $0.275 0.636%
4 Aug 02, 2023 Aug 11, 2023 Sep 01, 2023 $0.275 0.592%
5 Apr 05, 2023 May 12, 2023 Jun 01, 2023 $0.275 0.769%

FAQ

What is the symbol for Murphy Oil Corporation Stock and on which exchange is it traded?
The symbol for Murphy Oil Corporation is MUR and it is traded on the NYSE (New York Stock Exchange).

Should I buy or sell Murphy Oil Corporation Stock?
Murphy Oil Corporation holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

How to buy Murphy Oil Corporation Stock?
Murphy Oil Corporation Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Murphy Oil Corporation Stock.

What's the current price of Murphy Oil Corporation Stock?
As of the end of day on the 2024-04-11, the price of an Murphy Oil Corporation (MUR) share was $47.70.

What is the 52-week high and low for Murphy Oil Corporation Stock?
The 52-week high for Murphy Oil Corporation Stock is $49.14 and the 52-week low is $32.82.

What is the market capitalization of Murphy Oil Corporation Stock?
As of the 2024-04-11, the market capitalization of Murphy Oil Corporation is 7.177B.

When is the next earnings date for Murphy Oil Corporation?
The upcoming earnings date for Murphy Oil Corporation is May 02, 2024.
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About Murphy Oil Corporation

Murphy Oil Murphy Oil Corporation, together with its subsidiaries, operates as an oil and natural gas exploration and production company in the United States, Canada, and internationally. It explores for and produces crude oil, natural gas, and natural gas liquids. The company was formerly known as Murphy Corporation and changed its name to Murphy Oil Corporation in 1964. The company was incorporated in 1950 and is headquartered in Houston, Texas.... MUR Profile

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