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 $1.45 million following the completion of this transaction.
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 $0.42 million.
As published in a research note from JP Morgan on August 15, 2024, Murphy Oil Corp. [MUR] has been rated down from an Overweight to a Neutral and the price target has been revised to $47 from $50. As of April 11, 2024, Scotiabank has decreased its “Sector outperform” rating to a “Sector perform” for MUR. Earlier on April 10, 2024, Barclays initiated its rating. Their recommendation was “an Equal weight” for MUR stock.
Analyzing MUR Stock Performance
During the last five days, there has been a surge of approximately 8.60%. Over the course of the year, Murphy Oil Corp. shares have dropped approximately -16.53%. Shares of the company reached a 52-week high of $49.14 on 04/08/24 and a 52-week low of $32.53 on 09/26/24. A 50-day SMA is recorded $36.49, while a 200-day SMA reached $40.60. Nevertheless, trading volume fell to 2.38 million shares from 2.22 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 34.63, which, if violated, would cause prices to drop to 33.65. In the upper region, resistance lies at 36.16. The next price resistance is at 36.70. RSI (Relative Strength Index) is 51.96 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.09, which suggests the price will decrease in the coming days. Percent R is at 24.88%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
