Murphy Oil price target lowered to $29 from $31 at Barclays

Barclays lowered the firm’s price target on Murphy Oil (MUR) to $29 from $31 and keeps an Underweight rating on the shares. The company’s year-end 2025 update resets expectations on legacy asset base declines and the need for ongoing exploration to backfill long-term inventory, the analyst tells investors in a research note.