Murphy Oil Corp. (MUR) PT Raised to $27 at UBS to 'Reflect Value for Exploration Upside'

UBS analyst Josh Silverstein raised the price target on Murphy Oil Corp. (NYSE: MUR) to $27.00 (from $24.00) while maintaining a Neutral rating.

The analyst commented, "We see MUR's 3Q update building off positive 2Q results. While aided by a boost in GoA production due to a quiet hurricane season, we look for oil volumes to again be at the high end of the guidance range, reversing the trend of several straight quarters of oil production misses. MUR's biggest near-term driver is its impactful 4Q25/1H26 exploration, with its potential underpinning MUR's ~!5% o/p vs. the XOP over the last month. We increase our PT to $27 from $24 to reflect value for exploration upside. However, the exploration budget also leaves MUR more vulnerable to crude oil price downside risk, so we remain Neutral."

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