Murphy Oil (MUR) Stock Upgraded at Barclays

Murphy Oil (MUR) stock was upgraded to 'overweight' at Barclays earlier today.
By Rachel Graf ,

NEW YORK (TheStreet) -- Murphy Oil (MUR) - Get Report stock was upgraded to "overweight" from "equal weight" at Barclays in a note released earlier today. 

The firm raised its price target on shares of the El Dorado, AR-based oil and natural gas producer to $42 from $33.

"We think the risks associated with the stock are already well known and have been priced in by the market," Barclays said.

The stock is trading at a "significant discount" to net asset value and is inexpensive relative to other large-cap exploration and production companies, the firm added.

Shares nonetheless declined 0.63% to $31.90 in Wednesday's trading session as oil prices fell on concerns about the global supply glut.

Crude oil (WTI) is retreating 3.53% to $45.15 per barrel while Brent crude is down 3.80% to $46.63 per barrel. 

Separately, TheStreet Ratings team rates the stock as a "sell" with a ratings score of D.

Murphy's weaknesses include its deteriorating net income, disappointing return on equity, weak operating cash flow, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share.

You can view the full analysis from the report here: MUR

TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author. 

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