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Fly News Breaks for September 9, 2019
MUR
Sep 9, 2019 | 05:50 EDT
KeyBanc analyst Leo Mariani started Murphy Oil with an Overweight rating and $24 price target. The analyst highlights the company's "above-average" dividend yield, "strong" balance sheet, "price-advantaged" high crude weighting, and "discounted" valuation relative to peers. While Murphy Oil's asset base is currently out of favor with investors, the company should be a defensive name if commodity markets weaken, Mariani tells investors in a research note.
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