Murphy Oil Has Surged 48% in a Year — Can It Hold Above Wells Fargo’s $38 Price Target?

2 hours ago 1

Joel South

Thu, March 26, 2026 astatine 11:21 AM CDT 4 min read

Murphy Oil (MUR) shares are up 29.31% year-to-date and precocious touched $40.38 amid Vietnam offshore maturation, with Lac Da Vang archetypal lipid targeted for Q4 2026 and 2 further Hai Su Vang appraisal wells planned for 2026 expected to make 30-50 nett MBOEPD successful the aboriginal 2030s. Wells Fargo raised its terms people to $38 from $32, portion the institution raised its quarterly dividend 8% to $0.35 per stock with $550M remaining connected its stock repurchase authorization, achieving a 3.37% dividend yield.
Murphy Oil’s beardown operational execution, including 20% year-over-year lease operating disbursal simplification and declining Eagle Ford drilling costs, combined with Vietnam’s modulation from a speculative plus to a disposable maturation engine, supports the stock’s outperformance arsenic agelong arsenic WTI crude holds supra $64.51 per tube and Lac Da Vang achieves its accumulation milestones.
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Murphy Oil Corporation (NYSE:MUR) has been 1 of the much compelling vigor stories of 2026. Shares are up 29% year-to-date, person gained astir 48% implicit the past twelvemonth and added 10% successful conscionable the past week. The banal deed a caller a 52-week precocious of $41.92 connected Thursday, March 26.

Most analysts support a cautious stance, with a Street statement people of astir $35.53 and a Hold standing dominating coverage. Wells Fargo precocious raised its terms people to $38 from $32, keeping an Equal Weight rating, citing Vietnam offshore modeling refinements and improving execution visibility. That people sits beneath wherever the banal trades today.

Can MUR realistically prolong and physique connected its existent level done extremity of 2026?

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Wells Fargo's revised thesis centers connected Vietnam accumulation sharing declaration modeling refined done caller webinar insights, reinforcing semipermanent offshore worth adjacent arsenic the steadfast acknowledges the accidental remains agelong dated and valuation stays anchored to near-term currency flow. The firm's condemnation rests connected 2 developments: the palmy Hai Su Vang-2X appraisal well, which encountered 429 feet of nett lipid wage with an astir 12,000 BOPD combined travel rate, and Lac Da Vang archetypal lipid targeted for Q4 2026. Together, these milestones person Vietnam from a speculative plus into a disposable maturation engine.

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