Piper Sandler Maintains Overweight Rating for Murphy Oil: Here's What You Need To Know

Piper Sandler has decided to maintain its Overweight rating of Murphy Oil MUR and raise its price target from $46.00 to $62.00.

Shares of Murphy Oil are trading down 0.5% over the last 24 hours, at $42.14 per share.

A move to $62.00 would account for a 47.13% increase from the current share price.

About Murphy Oil

Murphy Oil is an independent exploration and production company developing unconventional resources in the United States and Canada. At the end of 2021, the company reported net proved reserves of 699 million barrels of oil equivalent. Consolidated production averaged 167.4 thousand barrels of oil equivalent per day in 2021 at a ratio of 63% oil and natural gas liquids and 37% natural gas.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.