Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Murphy Oil Corp. shares valued at $433,550 were sold by Martinez Maria A on Mar 14 ’24. At $43.35 per share, Martinez Maria A sold 10,000 shares. The insider’s holdings dropped to 40,590 shares worth approximately $1.7 million following the completion of this transaction.
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Also, GARDNER JOHN B sold 40,000 shares, netting a total of over 1,632,992 in proceeds. Following the sale of shares at $40.82 each, the insider now holds 25,302 shares.
Before that, Vaughan Paul D. had sold 6,000 shares from its account. In a trade valued at $237,660, the Vice President & Controller traded Murphy Oil Corp. shares for $39.61 each. Upon closing the transaction, the insider’s holdings decreased to 6,000 shares, worth approximately $0.5 million.
As published in a research note from Scotiabank on April 11, 2024, Murphy Oil Corp. [MUR] has been rated down from a Sector outperform to a Sector perform. Analysts at Barclays started covering the stock with ‘”an Equal weight”‘ outlook in a report released in early April. As of March 20, 2024, ROTH MKM has reiterated its “Buy” rating for MUR. Earlier on July 11, 2023, KeyBanc Capital Markets initiated its rating. Their recommendation was “an Overweight” for MUR stock.
Analyzing MUR Stock Performance
During the last five days, there has been a drop of approximately -3.12%. Over the course of the year, Murphy Oil Corp. shares have dropped approximately -1.88%. Shares of the company reached a 52-week high of $49.14 on 04/08/24 and a 52-week low of $36.95 on 01/25/24. A 50-day SMA is recorded $45.26, while a 200-day SMA reached $43.32. Nevertheless, trading volume fell to 1.4 million shares from 2.33 million shares the previous day.
Support And Resistance Levels for Murphy Oil Corp. (MUR)
According to the 24-hour chart, there is a support level at 41.32, which, if violated, would cause prices to drop to 40.78. In the upper region, resistance lies at 42.65. The next price resistance is at 43.44. RSI (Relative Strength Index) is 27.51 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.25, which suggests the price will decrease in the coming days. Percent R is at 92.37%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
