Scotia Capital Maintains Sector Perform On Murphy Oil

Scotia Capital is out with a research report on Murphy Oil Corporation MUR and it has a Sector Perform rating and a $78 price target on shares. In a note to clients, Scotia Capital writes, "Production averaged 170.5 Mboe/d, 9% below Q2 guidance. Production continued to be impacted by lower output at Kikeh where several high-rate wells were shut-in for workovers. We look for progress as a well brought online in July comes on production and the remaining wells are reworked later this year before reaching any conclusions." Shares of MUR closed at $63.89 yesterday.