Piper Sandler has updated its price target for Murphy Oil (MUR, Financial), raising it slightly from $34 to $35 while maintaining an Overweight rating on the stock. This adjustment comes as the firm anticipates a challenging landscape leading into the first quarter earnings season, influenced by uncertainties related to trade wars and broader macroeconomic factors. Additionally, increased supply from OPEC+ and a complex seasonal gas market are also impacting the company's outlook.
Despite these challenges, Piper Sandler recognizes potential opportunities for entry into stocks with substantial low-cost inventory and robust balance sheets like Murphy Oil. The firm expresses a preference for oil over gas investments as the market heads into Q1, highlighting the significant influence of market reversion and investor positioning on short-term performance.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 16 analysts, the average target price for Murphy Oil Corp (MUR, Financial) is $31.00 with a high estimate of $45.00 and a low estimate of $22.00. The average target implies an upside of 48.82% from the current price of $20.83. More detailed estimate data can be found on the Murphy Oil Corp (MUR) Forecast page.
Based on the consensus recommendation from 19 brokerage firms, Murphy Oil Corp's (MUR, Financial) average brokerage recommendation is currently 2.8, indicating "Hold" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Murphy Oil Corp (MUR, Financial) in one year is $33.89, suggesting a upside of 62.7% from the current price of $20.83. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Murphy Oil Corp (MUR) Summary page.
