Murphy Oil Stock Soars Nearly 8% - Here’s What Fueled the Rally

Another day, another traditional energy stock making moves while crypto continues eating the world.

The Oil Surge Explained

Murphy Oil caught fire today with an impressive 8% climb—proving that sometimes old-school energy plays still have some gas left in the tank. The surge came as oil prices rallied on geopolitical tensions and production cuts, sending shockwaves through the entire energy sector.

Meanwhile in Digital Asset Land...

While oil stocks enjoy their temporary renaissance, decentralized energy protocols and blockchain-based trading platforms continue quietly building the future. But hey, at least Murphy shareholders get to enjoy their paper gains before the inevitable market correction hits—because nothing says stability like tying your portfolio to geopolitical volatility and finite resources.

Traditional energy stocks popping 8% in a day? Cute. We'll stick with assets that actually have a future beyond the next OPEC meeting.

A raiser and holder

Monday's raiser was Roger Read from top U.S. bank. Well before market open, Read changed his Murphy Oil price target to $28 per share from $26.

Image source: Getty Images.

He remains cautious on the stock, however, as he maintained his equal weight (hold, in other words) recommendation on it.

According to reports, Read wrote in his update that the company is expecting to deliver impressive operational and financial results for its third quarter (it's scheduled to unveil those numbers on Oct. 30). The analyst expressed some concern about certain areas, such as the company's 2026 guidance.

Industrywide adjustments

Previous to that, last Thursday,also enacted a price target raise while maintaining its equivalent of a hold recommendation. The Canadian lender increased its fair-value assessment on Murphy Oil to $30 per share from $26, as part of a broader set of price target adjustments to U.S. oil stocks.