Murphy Oil price target raised to $23 from $22 at Barclays

Barclays raised the firm’s price target on Murphy Oil (MUR) to $23 from $22 and keeps an Underweight rating on the shares. The firm remains constructive on names levered to gas. It sees reasons for long-term price support with over 20 Bcfd of incremental demand expected by 2030. Barclays increased 2026 and 2027 gas price estimates to $4.50 and $4.25, respectively, and prefers EQT (EQT), Expand Energy (EXE), and Coterra Energy (CTRA) for gas exposure.