Murphy Oil price target lowered to $37 from $38 at Barclays

Barclays lowered the firm’s price target on Murphy Oil (MUR) to $37 from $38 and keeps an Equal Weight rating on the shares. The firm says Murphy Oil’s miss was saved by lower than expected costs. The company’s Q4 volume guide is below expectations on unplanned downtime while 2025 growth outlook is also more tempered, the analyst tells investors in a research note.