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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).

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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

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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