One energy stock that insiders are loading up on here is Murphy Oil (MUR), a worldwide oil and gas exploration and production firm with refining and marketing operations in the U.S. and the United Kingdom. Insiders are buying this stock into strength, since shares are up 12% in the last six months.
Murphy Oil has a market cap of $11.9 billion and an enterprise value of $13.1 billion. This stock trades at a cheap valuation, with a trailing price-to-earnings of 12.39 and a forward price-to-earnings of 9.61. Its estimated growth rate for this year is -16.7%, and for next year it's pegged at 24.1%. This is not a cash-rich company, since the total cash position on its balance sheet is $947.32 million and its total debt is $2.25 billion.A director just bought 80,000 shares, or about $4.82 million worth of stock, at $59.86 per share. From a technical perspective, MUR is currently trending above both its 50-day and 200-day moving averages, which is bullish. This stock has been uptrending strong for the last six months, with shares soaring higher from its low of $47.32 a share to its recent high of $63.77 a share. During that uptrend, shares of MUR have been mostly making higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of MUR within range of triggering a near-term breakout trade. If you're bullish on MUR, then look for long-biased trades as long as it's trending above its 50-day at $60.11 and then once it manages to break out above some near-term overhead resistance levels at $62.28 to $63.77 a share and then above more past resistance at $64.72 a share with high volume. Look for a sustained move or close above those levels with volume that hits near or above its three-month average action of 1.78 million shares. If that breakout triggers soon, then MUR will set up to re-test or possibly take out its next major overhead resistance level at $71.71 a share.
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