Mizuho Reiterates Neutral Rating on Murphy Oil Corp. (MUR)

Mizuho analyst Nitin Kumar reiterated a Neutral rating and $44.00 price target on Murphy Oil Corp. (NYSE: MUR).

The analyst commented: 'We expect another solid operational quarter from MUR, with oil/Boe volumes in the upper half of guidance (slightly above consensus) and LOE at the lower-end of the company's $10-12/boe range. MUR will need to increase its 2026 budget given recent exploration success offshore Côte d’Ivoire (which we see adding ~$250mm to FY capex, including ~$145mm spent in 2Q26), though this has been sufficiently well-telegraphed into the 2Q update. We also look for an exploration update in Vietnam at its HSV-4X appraisal well, including an updated resource estimate for the HSV discovery (which may be ready to share along with August earnings; potentially later in 3Q) and additional color/timeline on future development plans. MUR's 2H26 production trajectory will also be in focus, with two key start-ups expected to come online before year-end (Chinook/LDV); executing on these projects should give investors better visibility on the volume/FCF inflection in 2027. Maintain $44 PT/Neutral."

For an analyst ratings summary and ratings history on Murphy Oil Corp. click here. For more ratings news on Murphy Oil Corp. click here.

Shares of Murphy Oil Corp. closed at $34.97 yesterday.

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