Murphy Oil Corp. (MUR) reported earnings Wed 8 Aug 2018 (a/h)

** charts after earnings **

 

EL DORADO, Ark. (AP) _ Murphy Oil Corp. (MUR) on Wednesday reported second-quarter net income of $45.5 million, after reporting a loss in the same period a year earlier.

The El Dorado, Arkansas-based company said it had profit of 26 cents per share. Earnings, adjusted for non-recurring costs and to account for discontinued operations, came to 36 cents per share.

The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 35 cents per share.

The oil and gas producer posted revenue of $618.2 million in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $597.8 million.

Murphy Oil shares have increased roughly 5 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed nearly 7 percent. In the final minutes of trading on Wednesday, shares hit $32.52, a climb of 25 percent in the last 12 months.

Murphy Oil (MUR) reported earnings on Wed 31 January 2018 (a/h)

** charts before earnings **

 

** charts after earnings **

 Murphy Oil beats by $0.03, misses on revs 

• Reports Q4 (Dec) earnings of $0.08 per share, excluding non-recurring items, $0.03 better than the Capital IQ Consensus of $0.05; revenues rose 12.5% year/year to $541.58 mln vs the $552.54 mln Capital IQ Consensus.
  • Murphy's preliminary year-end 2017 proved reserves are 698 million barrels of oil equivalent (Mmboe) an increase from 685 Mmboe at year-end 2016. The change in year-over-year reserves is mainly attributed to additions from onshore assets, primarily oil-weighted Eagle Ford Shale and Tupper Montney natural gas.
  • The company's total reserves replacement was 123 percent with organic reserves replacement of 113 percent. The reserve life index increased to 11.7 years from 10.6 years at year-end 2016. Final information related to the company's year-end 2017 proved reserves will be provided in Murphy's Form 10-K to be filed with the Securities and Exchange Commission in February.

2018 CapEx and Production Guidance

• Murphy is planning 2018 capital expenditures to be $1,056 million which assumes an oil price of $50 to $55 per barrel WTI and a Henry Hub natural gas price of $2.90 to $3.00 per Mcf.
• Production for the first quarter 2018 is estimated to be in the range of 164 to 168 Mboepd with full year 2018 production to be in the range of 166 to 170 Mboepd. North America onshore unconventional production represents 57 percent of full year guidance.

MUR — is it a buy?

• June 29: Is MUR a buy?

• July 15:  No