Murphy Oil announces additional $125M share repurchase program Murphy Oil authorized a share repurchase program of up to $125M of the company's shares of common stock. This program is in addition to the previous board authorized program to repurchase up to $1B of the company's shares of common stock, which was recently completed. The program is expected to be completed by December 31.
Murphy Oil downgraded to Sell from Neutral at UBS UBS analyst William Featherston downgraded Murphy Oil to Sell citing the stock's premium valuation relative to peers and the company's declining production and below average inventory. The analyst cut his price target for shares to $41 from $45.