Saturday, October 01, 2016 9:32:06 AM
As one of our energy holdings, Murphy Oil (NYSE:MUR), an exploration and production company with a portfolio of global offshore and onshore assets, was a primary performance detractor, down 41% in the quarter, with approximately half of the impact coming from the equity we hold and the other half from the options. This happened despite beating estimates on production and operating cash flow (OCF) and raising production estimates for the rest of the year. Murphy management is focused on driving costs lower and shortening drill times while improving production efficiency to reduce capex to cash flow levels. Furthermore, after disappointing international drilling results in recent years, the company will not invest in higher risk, higher cost wells at this time; instead, management plans to focus rig commitments and to allocate capital to higher return opportunities near lower-risk existing infrastructure where the company has had prior exploration success. Murphy remains well capitalized with diverse cash flow sources and an investment grade rating. It also has non-core pieces that could be monetized to unlock value. CEO Roger Jenkins continues to repurchase shares at the company level and invest personally.
Recent MUR News
- Form 8-K - Current report • Edgar (US Regulatory) • 09/03/2024 08:31:08 PM
- Murphy Oil Corporation to Participate in Upcoming Conference • Business Wire • 08/28/2024 09:00:00 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 08/08/2024 10:33:57 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/08/2024 10:11:02 AM
- Murphy Oil Corporation Announces Second Quarter 2024 Financial and Operational Results, Revises Capital Allocation Framework to Accelerate Shareholder Returns, Increases Share Repurchase Authorization • Business Wire • 08/08/2024 10:00:00 AM
- Murphy Oil Corporation Releases 2024 Sustainability Report • Business Wire • 08/07/2024 10:10:00 PM
- Murphy Oil Corporation Announces Quarterly Dividend • Business Wire • 08/07/2024 01:56:00 PM
- Murphy Oil Corporation Schedules Second Quarter 2024 Earnings Release and Conference Call • Business Wire • 06/27/2024 08:30:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 06/17/2024 10:15:31 AM
- Form 11-K - Annual report of employee stock purchase, savings and similar plans • Edgar (US Regulatory) • 06/12/2024 08:33:40 PM
- Murphy Oil Corporation to Participate in Upcoming Conference • Business Wire • 06/12/2024 08:30:00 PM
- 1.5 Cent Micro Cap Looking To Bring Game-Changing Technology To Market In 2024 • AllPennyStocks.com • 06/05/2024 09:01:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/20/2024 08:41:34 PM
- Murphy Oil Corporation Announces First Quarter 2024 Financial and Operational Results, Reaffirms 2024 Production and Capital Expenditure Guidance Ranges • Business Wire • 05/02/2024 10:00:00 AM
- Murphy Oil Corporation Announces Quarterly Dividend • Business Wire • 04/03/2024 02:00:00 PM
- Murphy Oil Corporation Schedules First Quarter 2024 Earnings Release and Conference Call • Business Wire • 04/01/2024 10:00:00 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/08/2024 12:39:05 AM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 03/07/2024 10:44:44 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/06/2024 10:49:01 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 03/06/2024 09:23:34 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/01/2024 09:47:21 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/01/2024 09:44:51 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/01/2024 09:41:25 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 03/01/2024 05:23:20 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/27/2024 09:50:38 PM
FEATURED Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM
North Bay Resources Announces Mt. Vernon Gold Mine Bulk Sample, Sierra County, California • NBRI • Sep 11, 2024 9:15 AM
One World Products Issues Shareholder Update Letter • OWPC • Sep 11, 2024 7:27 AM
Kona Gold Beverage Inc. Reports $1.225 Million in Revenue and $133,000 Net Profit for the Quarter • KGKG • Sep 10, 2024 1:30 PM