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) • 10/02/2024 09:22:23 PM
- Murphy Oil Corporation Announces the Election of New Director • Business Wire • 10/02/2024 09:15:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 10/02/2024 09:14:34 PM
- Murphy Oil Corporation Names Eric M. Hambly as President and Chief Executive Officer • Business Wire • 10/02/2024 09:06:00 PM
- Murphy Oil Corporation Announces Quarterly Dividend • Business Wire • 10/02/2024 02:05:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 10/01/2024 08:36:36 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 10/01/2024 08:33:20 PM
- Murphy Oil Corporation Schedules Third Quarter 2024 Earnings Release and Conference Call • Business Wire • 09/25/2024 09:12:00 PM
- Form SD - Specialized disclosure report • Edgar (US Regulatory) • 09/23/2024 08:11:42 PM
- Form 424B5 - Prospectus [Rule 424(b)(5)] • Edgar (US Regulatory) • 09/20/2024 08:36:57 PM
- Murphy Oil Corporation Announces Pricing of $600 Million of 6.000% Senior Notes Due 2032 • Business Wire • 09/19/2024 07:29:00 PM
- Form FWP - Filing under Securities Act Rules 163/433 of free writing prospectuses • Edgar (US Regulatory) • 09/19/2024 06:59:27 PM
- Form 305B2 - Filing [Trust Indenture Act] • Edgar (US Regulatory) • 09/19/2024 11:37:56 AM
- Form 424B5 - Prospectus [Rule 424(b)(5)] • Edgar (US Regulatory) • 09/19/2024 11:35:09 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 09/19/2024 11:31:59 AM
- Murphy Oil Corporation Announces Cash Tender Offers for Outstanding Debt Securities • Business Wire • 09/19/2024 11:21:00 AM
- Murphy Oil Corporation Announces Offering of $600 Million of Senior Notes Due 2032 • Business Wire • 09/19/2024 11:19:00 AM
- 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
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