Murphy Oil price target lowered to $43 from $45 at UBS

UBS analyst Josh Silverstein lowered the firm’s price target on Murphy Oil to $43 from $45 and keeps a Neutral rating on the shares. The firm notes the company reported Q4 production and EBITDA below expectations, along with providing Q1 2024 and FY24 production outlooks that were also below expectations on maintenance downtime, largely in the Gulf.