Murphy Oil price target raised to $75 from $65 at Oppenheimer Oppenheimer raised its price target for Murphy Oil following the company's Q4 results citing significant upside potential from the separation of the company's U.S. retail marketing business and its strong oil production growth outlook. The firm keeps an Outperform rating on the stock.
Murphy Oil shares should advance today, says Wells Fargo Wells Fargo expects Murphy Oil's stock to climb today after the company reported stronger than expected results. The firm expects the company's production to increase significantly this quarter, and it keeps an Outperform rating on the shares.
Murphy Oil reports Q3 adjusted EPS $1.15, consensus 99c Q3 production averaged 229,759 boepd. This production level was approximately 2% over our guidance of 225,000 boepd for the quarter and was primarily attributed to higher production across the Gulf of Mexico and in Sarawak, Malaysia.