Goldman Sachs (NYSE:GS) Raises Price Target on Murphy Oil (NYSE:MUR)

Goldman Sachs (NYSE:GS) raised their price target on Murphy Oil (NYSE:MUR) from $61 to a hefty $67 a share, while maintaining their "Buy' rating on the energy company.

Murphy Oil was upgraded from "Neutral" to "Buy" on July 16.

Goldman's continued support of Murphy comes from their belief they'll become the first integrated oil business to be acknowledged for their expansion strategy in North America.

Murphy was down to $56.02 a share, a loss of $1.22, or 2.13 percent, as of 3:17 PM EDT.

Murphy Oil Schedules Earnings Conference Call

EL DORADO, Arkansas, January 7, 2009 – Murphy Oil Corporation (NYSE:MUR) has scheduled its conference call at 12:00 p.m. Central Time on Thursday, January 29 to review fourth quarter 2008 earnings, which will be announced Wednesday afternoon, January 28. ACT Teleconferencing is handling arrangements for the call. Interested parties may participate by dialing 1-800-240-2430 and referencing reservation number 11124677. The call will also be broadcast live over the internet and can be accessed through the Investor Relations section of Murphy Oil’s website at (http://www.murphyoilcorp.com/ir). All investors, analysts, media, employees and the general public are invited to participate.

Online replays of the call will be available through Murphy Oil’s website and a recording of the call will be available through Monday, February 2 by dialing 1-800-405-2236. Audio downloads will be available on the Murphy website through March 1 and via Thomson StreetEvents for their service subscribers.


For More Information
Dory Stiles
Investor/ Media Relations
P.O. Box 7000
El Dorado, AR 71731-7000
(870) 864-6496