Company Description: Murphy Oil Corporation operates as an oil and gas exploration and production company in the United States, Canada, the United Kingdom, Malaysia, Ecuador, and internationally. It operates in two segments, Exploration and Production, and Refining and Marketing. The Exploration and Production segment explores for and produces crude oil, natural gas, natural gas liquids, condensate, and synthetic oil. It has an interest in a Canadian synthetic oil operation, owns two petroleum refineries in the United States, and one refinery in the United Kingdom. The Refining and Marketing segment refines crude oil and other feedstocks into petroleum products, such as gasoline and distillates; buys and sells crude oil and refined products; and transports and markets petroleum products. The company was formerly known as Murphy Corporation and changed its name to Murphy Oil Corporation in 1964. Murphy Oil Corporation was founded in 1950 and is based El Dorado, Arkansas..

Our Analysis: The shares of Murphy Oil Corp. 'MUR' have been trending lower since early October of this year. Yesterday the shares of 'MUR' closed below a recently established downside support level on heavy trading volume. This is a bearish trading signal. The shares of 'MUR' should continue to move lower and test $52.39/share, the point from which they gapped higher on the open of trading on July 15th of this year. If the shares of 'MUR' close below that level as I expect they will, then they should continue to move lower and test $50.38/share, a point of downside support established on July 8th of this year. Our slightly longer term target is $46.002/share, the point from which they gapped higher on the open of trading on April 29th of this year. I see downside support on the shares of 'MUR' @ $55.57/share, and have set my stops accordingly at $55.97/share.