BMO Capital analyst Phillip Jungwirth initiates coverage on $Murphy Oil (MUR.US)$ with a hold rating, and sets the target price at $40.
According to TipRanks data, the analyst has a success rate of 42.8% and a total average return of 2.9% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Murphy Oil (MUR.US)$'s main analysts recently are as follows:
The firm has adjusted its estimates for the integrated oil and exploration and production group to account for a decrease in oil price forecasts. Considering the recent pullback in the sector, it is noted that there is a skew towards the upside in terms of risk/reward for stocks, as company fundamentals and operational momentum have been observed to remain robust.
The firm is altering its model across the Energy sector, with revisions to estimates for North American Oil and Gas companies, U.S. refiners, and Canadian oilfield service businesses. This is in light of a drop in crude prices during September, with the anticipation that prices will hover around current levels for the remainder of the year.
Note:
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