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Murphy Oil Corp. - MUR STOCK NEWS

Welcome to our dedicated page for Murphy Oil news (Ticker: MUR), a resource for investors and traders seeking the latest updates and insights on Murphy Oil stock.

Murphy Oil Corporation (symbol: MUR) is a prominent independent exploration and production company focused on oil and gas. The company boasts a robust, oil-weighted portfolio of both global offshore and onshore assets, providing substantial potential through its exploration program.

Murphy Oil's operations span two primary business segments: the United States and Canada, with the majority of its revenue being generated from the U.S. market. The company strategically balances its global offshore operations with a predictable onshore business in North America.

Key areas of exploration for Murphy Oil include the Deepwater Gulf of Mexico, the Atlantic Margin, Southeast Asia, and Australia. This diversified geographic presence helps mitigate risks and capitalize on various regional opportunities.

In recent times, Murphy Oil has made significant strides in strengthening its portfolio. The company has been actively engaging in projects that enhance its production capabilities and reserves. Noteworthy among these are its advancements in the Gulf of Mexico, where high-potential deepwater projects are underway.

Financially, Murphy Oil remains in a healthy condition, driven by steady revenue streams and prudent financial management. The company has formed strategic partnerships that bolster its technological capabilities and operational efficiencies, ensuring sustained growth and value creation for shareholders.

Murphy Oil's product offerings include crude oil, natural gas, and natural gas liquids. The company continues to innovate and optimize its production processes to meet market demands and environmental standards. With a keen focus on sustainable practices, Murphy Oil is committed to minimizing its environmental footprint while maximizing resource extraction.

News

Murphy Oil Corporation Announces First Quarter 2024 Financial and Operational Results, Reaffirms 2024 Production and Capital Expenditure Guidance Ranges

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Murphy Oil (NYSE: MUR) reported its first quarter 2024 financial results with $90 million net income and a $50 million share repurchase. The company maintained its quarterly dividend and received positive outlooks from Moody's and Fitch credit rating agencies. Earnings before interest, taxes, depreciation, and amortization (EBITDA) were $343 million. Murphy continues to follow its capital allocation framework, repurchasing $200 million of stock and lowering debt by $500 million since Q3 2023. Production remains strong with 170 MBOEPD and capital expenditures totaling $264 million for the quarter.

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Murphy Oil Corporation Announces Quarterly Dividend

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Murphy Oil (MUR) declares a quarterly cash dividend of $0.30 per share, totaling $1.20 per share annually. The dividend will be paid on June 3, 2024, to shareholders of record as of May 20, 2024.
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Murphy Oil Corporation Schedules First Quarter 2024 Earnings Release and Conference Call

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Murphy Oil (MUR) will host a conference call to discuss first quarter 2024 earnings on May 2, 2024. The company will release financial and operating results before the market opens. Investors can join the webcast for more details.
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Murphy Oil Corporation Promotes Eric M. Hambly to Position of President and Chief Operating Officer and E. Ted Botner to Executive Vice President

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Murphy Oil Corporation (NYSE: MUR) has announced the promotion of Eric M. Hambly to President and Chief Operating Officer and E. Ted Botner to Executive Vice President, effective February 1, 2024. Mr. Hambly has been with Murphy for 18 years, playing a vital role in global exploration and production operations. He holds bachelor’s and master’s degrees in chemical engineering and has completed the Advanced Management Program at Harvard Business School. Mr. Botner, who joined Murphy in 2001 as an attorney, has been promoted in recognition of his longstanding legal counsel and contributions to the company. The CEO, Roger W. Jenkins, expressed commitment to the company’s strategy and strengthening the balance sheet to reward shareholders.
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Murphy Oil Corporation Announces Fourth Quarter and Full Year 2023 Results, Preliminary Year-End 2023 Reserves, 2024 Capital Expenditure and Production Guidance

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Murphy Oil Corporation (NYSE: MUR) achieved its 2023 debt reduction goal of $500 million, repurchased $150 million of shares, and increased its dividend by 9 percent. The company achieved a 139 percent total reserve replacement ratio with preliminary proved reserves of 724 MMBOE. Net income for the fourth quarter was $116 million, or $0.75 per diluted share, and $662 million for the full year 2023, or $4.22 per diluted share. The company has reduced its total debt to $1.3 billion, repurchased 3.4 million shares, and increased its quarterly cash dividend by 10 percent. Murphy's preliminary year-end 2023 proved reserves were 724 MMBOE, with 36 percent oil and 41 percent liquids. The company's 2024 capital expenditure plan is expected to be in the range of $920 million to $1.02 billion, with full year 2024 production expected to be in the range of 180 to 188 MBOEPD.
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Murphy Oil Corporation Announces Quarterly Dividend

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Murphy Oil Corporation (MUR) has declared a quarterly cash dividend of $0.30 per share, totaling $1.20 per share on an annualized basis. The dividend will be paid on March 4, 2024, to stockholders of record as of February 20, 2024.
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Murphy Oil Corporation Schedules Fourth Quarter 2023 Earnings Release and Conference Call

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Murphy Oil Corporation (NYSE: MUR) will host a conference call and webcast on January 25, 2024, to discuss fourth quarter 2023 earnings. The company plans to release its financial and operating results before the market opens that morning.
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Murphy Oil Corporation Announces Early Results and Increase of 2027 Maximum Subcap of Cash Tender Offers for Outstanding Debt Securities

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Murphy Oil Corporation (NYSE: MUR) announced the early tender results of its series of tender offers to purchase certain outstanding senior notes. The company amended the offers to increase the maximum subcap for the 5.875% Senior Notes due 2027. As of the Early Tender Date, the aggregate principal amount of each series of Notes listed has been validly tendered. The Tender Offers are scheduled to expire on December 5, 2023.
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Murphy Oil Corporation Announces Cash Tender Offers for Outstanding Debt Securities

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Murphy Oil Corporation (NYSE: MUR) has announced a series of tender offers to purchase up to $250 million aggregate principal amount of its outstanding senior notes. The tender offers will expire on December 5, 2023, and the company reserves the right to increase or decrease the Maximum Aggregate Cap at any time. The purpose of the tender offers is to reduce the company's total debt and interest expense.
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Murphy Oil Corporation Announces Third Quarter 2023 Financial and Operating Results, Advances Capital Allocation Framework, Increases Share Repurchase Authorization, Raises Full Year 2023 Production Guidance

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Murphy Oil Corporation (NYSE: MUR) exceeded the upper end of its guidance range with production of 202 thousand barrels of oil equivalent per day (MBOEPD) in the third quarter of 2023. The company also sanctioned the Lac Da Vang field development project in Vietnam, executed $249 million of debt reduction, and repurchased $75 million of shares outstanding. Net income attributable to Murphy was $255 million, or $1.63 net income per diluted share.
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FAQ

What is the current stock price of Murphy Oil (MUR)?

The current stock price of Murphy Oil (MUR) is $26.63 as of January 31, 2025.

What is the market cap of Murphy Oil (MUR)?

The market cap of Murphy Oil (MUR) is approximately 3.9B.

What does Murphy Oil Corporation do?

Murphy Oil Corporation specializes in the exploration and production of oil and natural gas with both onshore and offshore operations.

Where does Murphy Oil Corporation operate?

Murphy Oil operates primarily in the United States and Canada, with significant exploration activities in the Gulf of Mexico, the Atlantic Margin, Southeast Asia, and Australia.

What are the main products of Murphy Oil?

Murphy Oil produces crude oil, natural gas, and natural gas liquids.

How does Murphy Oil generate most of its revenue?

The majority of Murphy Oil's revenue is generated from its operations in the United States.

What recent achievements has Murphy Oil made?

Murphy Oil has made significant advancements in its Gulf of Mexico projects and continues to strengthen its portfolio through strategic partnerships and innovative practices.

Is Murphy Oil financially stable?

Yes, Murphy Oil maintains a healthy financial condition supported by steady revenue streams and prudent financial management.

What are Murphy Oil's key areas of exploration?

Murphy Oil focuses its exploration activities in the Deepwater Gulf of Mexico, the Atlantic Margin, Southeast Asia, and Australia.

What type of company is Murphy Oil?

Murphy Oil is an independent exploration and production company in the oil and gas industry.

What are Murphy Oil's commitments to sustainability?

Murphy Oil is committed to minimizing its environmental footprint while maximizing resource extraction, adhering to sustainable practices and market demands.

How does Murphy Oil balance its operations?

Murphy Oil balances its global offshore operations with a predictable onshore business in North America, diversifying its geographic presence to mitigate risks and seize opportunities.
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Murphy Oil Corp.

NYSE:MUR

MUR Rankings

#1470 Ranked by Market Cap
#613 Ranked by Dividends

MUR Stock Data

3.91B
136.47M
6.33%
85.06%
6.45%
Oil & Gas E&P
Crude Petroleum & Natural Gas
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United States
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