S&P Capital Sees Good Upside Potential for Murphy Oil Corporation

In a report published Monday, S&P Capital analyst Gary F. Albanese reiterated a Buy rating and $69.75 price target on Murphy Oil Corporation (NYSE: MUR).In the report, S&P Capital noted, “Murphy Oil Corp. (MUR) is focused on exploration and production of oil and gas properties worldwide. The company's efforts concentrate on crude oil, natural gas, and natural gas liquids. MUR was added to the Trade Detector-Consensus Price Target list for September. Over the last year, MUR's shares underperformed against the S&P 500 index, dropping 6.7% compared to the S&P 500 index's growth of 18.1% (see chart). MUR shares are trading slightly above its 52-week low of $54.74, recorded on April 11, which is about 6% below the current price. Meanwhile, MUR's 52-week high was $67.75, recorded on July 24, which is 17% above the current price.”Murphy Oil Corporation closed on Friday at $57.58.