Murphy Oil Corporation (NYSE: MUR) today announced that Eric M. Hambly, President and Chief Executive Officer, will present at the Barclays 40th Annual Energy-Power Conference on Wednesday, September 9, 2026 at 1:50 p.m. Eastern Time (ET).
The live audio webcast will be available on the company’s website at http://ir.murphyoilcorp.com. A replay will be available for 30 days following the event.
ABOUT MURPHY OIL CORPORATION
Murphy Oil Corporation is an independent oil and natural gas company with a multi-basin onshore and offshore portfolio and significant exploration opportunities. The company has more than a century-long history of demonstrating strong execution and innovative, full-cycle development capabilities with a focus on value creation that drives shareholder returns. Murphy’s foresight and financial discipline, along with its culture of adaptability and accountability, will allow the company to continue its outstanding legacy and exceptional reputation. The company’s current operations include extensive inventory located onshore in the Eagle Ford Shale, Tupper Montney and Kaybob Duvernay, as well as offshore in the Gulf of America and Canada. Murphy also strives to create long-term shareholder value through offshore exploration and development in the Gulf of America, Vietnam and Côte d’Ivoire. Additional information can be found on the company’s website at www.murphyoilcorp.com.
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HOUSTON--(BUSINESS WIRE)--Murphy Oil Corporation (NYSE: MUR) today announced that Eric M. Hambly, President and Chief Executive Officer, will present at the Barclays 40th Annual Energy-Power Conference on Wednesday, September 9, 2026 at 1:50 p.m. Eastern Time (ET). The live audio webcast will be available on the company's website at http://ir.murphyoilcorp.com. A replay will be available for 30 days following the event. ABOUT MURPHY OIL CORPORATION Murphy Oil Corporation is an independent oil a.
Jupiter Topco LLC bought a new position in Murphy Oil Corporation (NYSE:MUR – Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm bought 63,382 shares of the oil and gas producer’s stock, valued at approximately $2,065,000.
Other institutional investors have also modified their holdings of the company. CIBC Private Wealth Group LLC purchased a new position in Murphy Oil during the fourth quarter worth about $26,000. Leonteq Securities AG purchased a new stake in shares of Murphy Oil in the 1st quarter valued at approximately $29,000. Valued Wealth Advisors LLC grew its stake in shares of Murphy Oil by 14,700.0% in the 1st quarter. Valued Wealth Advisors LLC now owns 740 shares of the oil and gas producer’s stock valued at $31,000 after buying an additional 735 shares during the period. Farther Finance Advisors LLC increased its holdings in shares of Murphy Oil by 72.9% during the 4th quarter. Farther Finance Advisors LLC now owns 1,701 shares of the oil and gas producer’s stock worth $53,000 after buying an additional 717 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Murphy Oil during the 2nd quarter worth approximately $54,000. Hedge funds and other institutional investors own 78.31% of the company’s stock.
Murphy Oil Price Performance Murphy Oil stock opened at $37.27 on Friday. The company’s 50 day simple moving average is $35.71 and its 200-day simple moving average is $36.84. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.80 and a current ratio of 0.85. Murphy Oil Corporation has a 1 year low of $24.49 and a 1 year high of $43.34. The company has a market capitalization of $5.34 billion, a price-to-earnings ratio of 18.45 and a beta of 0.50.
Murphy Oil (NYSE:MUR – Get Free Report) last posted its earnings results on Wednesday, August 5th. The oil and gas producer reported $1.55 earnings per share for the quarter, missing the consensus estimate of $1.57 by ($0.02). Murphy Oil had a net margin of 9.74% and a return on equity of 6.63%. The company had revenue of $926.33 million during the quarter, compared to analyst estimates of $888.51 million. During the same quarter last year, the business posted $0.27 EPS. The firm’s revenue for the quarter was up 33.5% on a year-over-year basis. As a group, equities research analysts expect that Murphy Oil Corporation will post 2.77 earnings per share for the current year. Murphy Oil Dividend Announcement The company also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Monday, August 17th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Monday, August 17th. This represents a $1.40 annualized dividend and a yield of 3.8%. Murphy Oil’s dividend payout ratio is presently 69.31%.
Wall Street Analysts Forecast Growth A number of research analysts recently commented on MUR shares. Wall Street Zen cut Murphy Oil from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. KeyCorp cut their target price on Murphy Oil from $48.00 to $43.00 and set an “overweight” rating for the company in a research note on Thursday, August 13th. Scotiabank restated a “sector perform” rating and issued a $44.00 target price on shares of Murphy Oil in a research report on Wednesday, May 13th. Roth Capital reaffirmed a “neutral” rating and issued a $36.00 price target on shares of Murphy Oil in a research note on Thursday, May 7th. Finally, Barclays cut Murphy Oil from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $38.00 to $34.00 in a report on Friday, August 14th. Three research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $37.25.
View Our Latest Report on MUR
Murphy Oil Company Profile (Free Report)
Murphy Oil Corporation is an independent upstream oil and gas company engaged in the exploration, development and production of crude oil, natural gas and natural gas liquids. The company’s operations encompass conventional onshore and offshore reservoirs, with an emphasis on liquids-rich properties and deepwater assets. Through a combination of proprietary technologies and strategic joint ventures, Murphy Oil seeks to optimize recovery rates and manage its portfolio to balance long-term resource development with operational flexibility.
Murphy Oil’s exploration and production activities are geographically diversified.
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On September 01, 2026, Murphy Oil Corp MUR shares rose 3.2% to $37.60. Despite the recent uptick, the stock remains within a 52-week range of $24.49 to $43.34.
GF Value™ verdict: Current price is $37.60, which is 4.3% overvalued compared to the GF Value™ of $36.04. GF Score™ of 66/100 indicates an above-average assessment of the company's overall quality. Notable signal: Insiders sold $1.9M worth of stock over the past year, with no purchases reported.Is MUR Overvalued or Undervalued?Murphy Oil Corp's current price of $37.60 is slightly above the GF Value™ estimate of $36.04, indicating that the stock is currently 4.3% overvalued. The GF Value™ represents GuruFocus' intrinsic value estimate, which takes into account historical trading multiples, past business growth, and future performance estimates. This overvaluation suggests that there may be a limited margin of safety for new investors, as the price is not significantly lower than what the company is deemed worth. As such, potential risks exist if market conditions shift or if the company's performance does not meet investor expectations.
Investors should be particularly attentive to the stock's valuation against its historical performance and market changes, as being above the GF Value™ can lead to potential price corrections in the future.
How Does MUR's Valuation Compare to Its History?Metric Current Historical P/E (TTM) 18.6x 10.2x Forward P/E 12.4x N/AThe current P/E ratio of 18.6x is significantly above the 5-year median P/E of 10.2x, indicating that the stock is trading at a premium compared to its historical valuation. This analysis aligns with the GF Value™ assessment, reinforcing the idea that Murphy Oil Corp may be overvalued at its current price level.
What Does MUR's GF Score™ Tell Us?The GF Score™ is a composite score that evaluates a company's financial health, profitability, growth potential, valuation, and momentum. Murphy Oil Corp has a GF Score™ of 66/100, indicating above-average quality. The strongest sub-rank is its Valuation Rank at 9/10, suggesting favorable valuation metrics in certain aspects, while the weakest sub-rank is its Momentum Rank at 1/10, which indicates a lack of strong upward price movement recently.
Metric Rating GF Score™ 66/100 Financial Strength 5/10 Profitability 7/10 Growth 5/10 Valuation 9/10 Momentum 1/10Overall, the scores reflect a company that has solid valuation metrics and profitability, but may lack strength in financial stability and recent price momentum. This mix indicates that while there are certain positive aspects to consider, caution is warranted, especially given the low momentum rank.
What Are Gurus and Insiders Doing with MUR?Currently, six gurus hold Murphy Oil Corp stock, with five having added to their positions in recent quarters, while three have trimmed their holdings. This indicates a mixed sentiment among professionals, with some expressing confidence in the stock's potential, while others may have reservations.
On the insider front, there has been a notable selling trend, with insiders selling $1.9M worth of stock in the past year without any buying activity. This pattern could suggest a lack of confidence in the company's short-term prospects or a strategy to capitalize on current valuation levels. Such actions by insiders may influence investor perception, signaling caution regarding future performance.
What This Means for InvestorsIn conclusion, based on the GF Value™ estimate, Murphy Oil Corp MUR is currently overvalued at a price of $37.60 compared to the fair value of $36.04. This overvaluation, combined with mixed signals from guru ownership and insider selling, suggests that investors should approach this stock with caution, particularly regarding the sustainability of its dividend and overall financial health. For more detailed information, you can visit the Murphy Oil Corp (MUR) stock page and explore the GF Value™ page for deeper insights.
Frequently Asked QuestionsWhat is MUR's GF Score™?
MUR has a GF Score™ of 66/100, indicating an above-average assessment of the company's overall quality.
Is MUR overvalued or undervalued?
MUR is currently overvalued, with a GF Value™ of $36.04 compared to the current price of $37.60.
What is MUR's P/E ratio?
MUR's P/E (TTM) ratio is 18.6x, which is significantly higher than its 5-year median P/E of 10.2x, indicating that the stock is trading at a premium compared to its historical averages.
This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Disclosures I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.
HOUSTON--(BUSINESS WIRE)--Murphy Oil Corporation (NYSE: MUR) today announced the appointment of Michol L. Ecklund as Senior Vice President, Chief Legal Officer and Corporate Secretary of the Company, effective August 31, 2026.
In this role, Ms. Ecklund will oversee Murphy’s legal, compliance, governance, government affairs, land, sustainability and risk management functions and serve as a member of Murphy's Executive Leadership Team.
Eric M. Hambly, President and Chief Executive Officer, commented, "Michol’s demonstrated leadership, broad legal expertise and deep industry knowledge position her well to provide strategic oversight of these functions. We look forward to the contributions she will make to Murphy's continued success."
Ms. Ecklund brings more than 25 years of legal, governance, compliance and leadership experience in the energy industry. Most recently, she served as Executive Vice President and General Counsel of Anew Climate, where she led the legal, marketing and policy functions. Ms. Ecklund joined Anew in 2024.
Prior to joining Anew, Ms. Ecklund was with Callon Petroleum Company, where she served as Senior Vice President, Chief Sustainability Officer, General Counsel and Corporate Secretary during her seven-year tenure. Before joining Callon, she held positions of increasing responsibility during her 15-year tenure at Marathon Oil Corporation, culminating in her role as Deputy General Counsel. Ms. Ecklund began her legal career at Baker Botts L.L.P. in Houston. She holds a Bachelor of Arts degree from Rice University, where she currently serves on the Board of Trustees, and a Juris Doctor degree from Harvard Law School.
As Senior Vice President, Chief Legal Officer and Corporate Secretary, Ms. Ecklund will report directly to Eric M. Hambly, President and Chief Executive Officer.
ABOUT MURPHY OIL CORPORATION
Murphy Oil Corporation is an independent oil and natural gas company with a multi-basin onshore and offshore portfolio and significant exploration opportunities. The company has more than a century-long history of demonstrating strong execution and innovative, full-cycle development capabilities with a focus on value creation that drives shareholder returns. Murphy’s foresight and financial discipline, along with its culture of adaptability and accountability, will allow the company to continue its outstanding legacy and exceptional reputation. The company’s current operations include extensive inventory located onshore in the Eagle Ford Shale, Tupper Montney and Kaybob Duvernay, as well as offshore in the Gulf of America and Canada. Murphy also strives to create long-term shareholder value through offshore exploration and development in the Gulf of America, Vietnam and Côte d’Ivoire. Additional information can be found on the company’s website at www.murphyoilcorp.com.
On August 20, 2026, Murphy Oil Corp (MUR) shares rose 3.8% to $38.28. The stock has shown notable price performance over the past year, reflecting a 79.3% incre
Murphy Oil Corporation (NYSE:MUR – Get Free Report) has been assigned an average rating of “Hold” from the sixteen brokerages that are currently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, eleven have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $37.6667.
A number of research analysts have recently weighed in on MUR shares. Scotiabank reiterated a “sector perform” rating and set a $44.00 price target on shares of Murphy Oil in a report on Wednesday, May 13th. Weiss Ratings reissued a “hold (c)” rating on shares of Murphy Oil in a research note on Wednesday, June 24th. KeyCorp upgraded Murphy Oil from a “sector weight” rating to an “overweight” rating and set a $48.00 price objective for the company in a research report on Thursday, June 4th. Mizuho raised Murphy Oil to a “hold” rating in a research note on Friday, July 31st. Finally, Roth Capital reiterated a “neutral” rating and issued a $36.00 target price on shares of Murphy Oil in a report on Thursday, May 7th.
Read Our Latest Stock Analysis on MUR
Institutional Investors Weigh In On Murphy Oil Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new stake in shares of Murphy Oil during the 2nd quarter valued at $626,514,000. Dimensional Fund Advisors LP raised its holdings in shares of Murphy Oil by 3.0% during the first quarter. Dimensional Fund Advisors LP now owns 8,171,385 shares of the oil and gas producer’s stock worth $337,081,000 after acquiring an additional 238,326 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Murphy Oil by 2.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,572,610 shares of the oil and gas producer’s stock worth $174,144,000 after acquiring an additional 143,125 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Murphy Oil by 105.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 3,310,884 shares of the oil and gas producer’s stock worth $136,574,000 after acquiring an additional 1,700,498 shares in the last quarter. Finally, AQR Capital Management LLC boosted its position in Murphy Oil by 8.3% during the third quarter. AQR Capital Management LLC now owns 2,656,394 shares of the oil and gas producer’s stock valued at $75,468,000 after purchasing an additional 204,349 shares during the last quarter. Hedge funds and other institutional investors own 78.31% of the company’s stock.
Murphy Oil Trading Up 0.5% Murphy Oil stock opened at $35.67 on Wednesday. Murphy Oil has a 52 week low of $21.86 and a 52 week high of $43.34. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.80 and a current ratio of 0.85. The firm has a market capitalization of $5.11 billion, a price-to-earnings ratio of 17.66 and a beta of 0.50. The company has a 50 day moving average price of $36.07 and a 200 day moving average price of $36.31.
Murphy Oil (NYSE:MUR – Get Free Report) last announced its earnings results on Wednesday, August 5th. The oil and gas producer reported $1.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.57 by ($0.02). The firm had revenue of $926.33 million for the quarter, compared to analyst estimates of $888.51 million. Murphy Oil had a net margin of 9.74% and a return on equity of 6.63%. Murphy Oil’s revenue for the quarter was up 33.5% compared to the same quarter last year. During the same period last year, the firm earned $0.27 earnings per share. Research analysts forecast that Murphy Oil will post 2.93 EPS for the current year.
Murphy Oil Dividend Announcement The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Monday, August 17th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, August 17th. This represents a $1.40 dividend on an annualized basis and a yield of 3.9%. Murphy Oil’s payout ratio is presently 69.31%.
About Murphy Oil (Get Free Report)
Murphy Oil Corporation is an independent upstream oil and gas company engaged in the exploration, development and production of crude oil, natural gas and natural gas liquids. The company’s operations encompass conventional onshore and offshore reservoirs, with an emphasis on liquids-rich properties and deepwater assets. Through a combination of proprietary technologies and strategic joint ventures, Murphy Oil seeks to optimize recovery rates and manage its portfolio to balance long-term resource development with operational flexibility.
Murphy Oil’s exploration and production activities are geographically diversified.
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3 Stocks Standing Out and 2 Losing Momentum as the Tech Rally CracksMurphy Oil NYSE: MUR highlighted a new discovery offshore Côte d’Ivoire, revised its 2026 capital program upward and outlined plans to accelerate activity in the Eagle Ford during its second-quarter 2026 earnings call.
President and CEO Eric Hambly said the company’s most significant development during the quarter was the Bubale discovery, where the discovery well encountered oil in both the Turonian and Cenomanian reservoirs. Murphy entered Côte d’Ivoire with a three-well exploration strategy, and the first two wells were non-commercial, Hambly said.
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Savvy Investors' Rate Cut Portfolio: Bonds, Small Caps, Energy“While Bubale has the potential to become a significant growth driver for Murphy, there is still important appraisal work ahead,” Hambly said. The company spudded the Bubale West 1X appraisal well in July, targeting the Turonian reservoir. The well is the first in a potential program of up to five appraisal wells over the next 18 to 24 months.
Bubale Appraisal to Proceed in Stages Hambly said the Bubale West 1X well is designed to test reservoir continuity, thickness and quality down dip from the discovery well, while also seeking to establish a deeper oil level. A successful result would provide Murphy with greater confidence that the discovery supports a commercial development, although the total resource range would remain uncertain.
3 Small-Cap Stocks in the Russell 2000 Set to RallyMurphy estimates the appraisal well will cost about $90 million, up from its prior $65 million dry-hole cost estimate for the discovery well. Hambly said drilling through a shallow Turonian section was slower than expected, and the company incorporated that learning into its estimate for the appraisal well. If hydrocarbons are encountered, formation evaluation, logging, core and fluid-sampling work could raise the final well cost above $90 million.
The company said future appraisal activity will be data-driven. Depending on results from Bubale West 1X, Murphy could pursue a broader appraisal campaign, a limited program or no additional appraisal wells next year. Hambly said Murphy controls the pace of spending because it operates its positions in Côte d’Ivoire and Vietnam.
Vietnam Resource Estimate Reduced, Development Planning Continues Murphy also addressed results from the Hai Su Vang 4X appraisal well in Vietnam, which was a dry hole. The company reduced its resource estimate after the result, with Hambly saying the well found the targeted interval but encountered low reservoir quality and no net pay.
Despite the revision, Murphy continues to view Hai Su Vang as a material opportunity of 200 million to 300 million barrels of oil equivalent, which Hambly described as roughly two to three times the size of the Lac Da Vang project. The company maintained its Vietnam peak-production outlook of 30,000 to 50,000 barrels of oil equivalent per day, though Hambly said current information points toward the lower end of that range unless further tieback opportunities are identified.
Murphy is evaluating development concepts for Hai Su Vang, including a floating production, storage and offloading vessel or a processing platform linked to wellhead platforms and a floating storage and offloading unit, similar to Lac Da Vang. The company is targeting a final investment decision in the fourth quarter of 2027 after completing development planning and obtaining required partner approvals.
Lac Da Vang remains on schedule for first oil in the fourth quarter, according to Hambly, with pipeline, topsides and floating storage milestones completed. Murphy expects net production from the project to reach approximately 5,000 to 9,000 barrels per day by the end of 2027, eventually rising to 10,000 to 15,000 barrels per day as development drilling continues through 2028 and 2029.
In addition, Murphy is drilling the Lac Da Trang North 1X exploration well in Vietnam. Hambly said the prospect has a pre-drill resource range of 40 million to 80 million barrels and could be developed as a tieback if successful. He said the company expects to focus near-term Vietnamese exploration on Block 15-1/05, while activity in Block 15-2/17 may occur in 2028 or 2029 rather than 2027.
Capital Program Raised as Eagle Ford Activity Accelerates Murphy raised the midpoint of its 2026 capital expenditure estimate to $1.55 billion from $1.25 billion. The increase includes roughly $190 million associated with Bubale, consisting of $100 million of incremental spending on the discovery well and $90 million for the first appraisal well.
The company also plans to direct an additional $70 million to the Eagle Ford, an investment expected to add about 5,000 to 6,000 barrels of oil equivalent per day in 2027. Murphy plans to restart Eagle Ford drilling in October rather than January, drilling one pad in Karnes and another in Catarina. The company expects to begin completing the Catarina pad near year-end and bring wells online early in 2027.
Hambly said Eagle Ford investment is intended to generate additional free cash flow to support the company’s offshore growth opportunities, rather than to respond to near-term oil prices. He said Murphy has seen improving well performance and strong free cash flow from the asset over recent years. The company’s Eagle Ford program is primarily focused on lower and upper Eagle Ford locations, with Austin Chalk wells included only selectively in portions of its Karnes acreage.
Murphy did not provide a formal 2027 capital budget. Hambly said spending next year will likely exceed $1.25 billion and could move toward the high end of, or slightly above, the company’s historical $1.2 billion to $1.3 billion capital range before considering potentially additive Bubale appraisal spending.
Production, Cash Flow and Balance Sheet Second-quarter production averaged 169,000 barrels of oil equivalent per day, above the midpoint of Murphy’s guidance. Performance was led by Tupper Montney and continued outperformance in the Eagle Ford, Hambly said.
The company generated $110 million of free cash flow during the quarter, paid $50 million in dividends and ended the period with leverage below 1x and approximately $2.5 billion of liquidity. Murphy expects to generate positive free cash flow for the full year at current commodity prices, even with the revised capital program.
Hambly said the company’s capital-allocation priorities remain unchanged: invest in assets to maintain or grow scale, pay its dividend, protect the balance sheet and repurchase shares when management believes the stock trades materially below intrinsic value. He said Murphy may have periods of modest or negative companywide free cash flow before first oil from Hai Su Vang or potentially Bubale, but added that the company is prepared to use liquidity when necessary while maintaining a strong balance-sheet position.
Looking beyond its current programs, Murphy expects to explore one or two wells in the Gulf of Mexico next year and continue activity in Vietnam. The company said its recently added positions in Morocco, Cameroon and Mauritania are at earlier stages, with near-term work expected to center on studies and seismic reprocessing rather than drilling.
About Murphy Oil (NYSE:MUR)Murphy Oil Corporation is an independent upstream oil and gas company engaged in the exploration, development and production of crude oil, natural gas and natural gas liquids. The company's operations encompass conventional onshore and offshore reservoirs, with an emphasis on liquids-rich properties and deepwater assets. Through a combination of proprietary technologies and strategic joint ventures, Murphy Oil seeks to optimize recovery rates and manage its portfolio to balance long-term resource development with operational flexibility.
Murphy Oil's exploration and production activities are geographically diversified.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
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Murphy Oil Corporation is rated a Buy due to its compelling valuation, strong balance sheet, and ongoing growth investments. MUR's Q2 2026 revenue surged 33.5% to $928.3M, driven by higher oil prices despite planned production declines. Shares are among the cheapest in peer comparisons on EV/EBITDA and price-to-operating-cash-flow, with leverage remaining low.
Murphy Oil's aggressive exploration program could triple company reserves in coming years. Recent Côte d'Ivoire discovery appraisal is underway, targeting up to 800 million barrels of oil across two intervals. The Gulf of America program offers lower-risk reserve additions.
Key Takeaways Murphy Oil's adjusted earnings rose 474.1% to $1.55 per share, beating estimates by 2.7%.MUR realized $99.14 per oil barrel as production reached 169,000 Boe/d, the top end of guidance.Murphy Oil raised 2026 capital spending to $1.5-$1.6 billion for Bubale, Eagle Ford and Chinook #8. Murphy Oil Corporation (MUR - Free Report) reported second-quarter 2026 adjusted earnings of $1.55 per share, up 474.1% year over year. The figure topped the Zacks Consensus Estimate of $1.51 per share by 2.7%.
GAAP earnings were $1.59 per share compared with 16 cents in the year-ago quarter. The difference between GAAP and operating earnings was due to discontinued operations and other items affecting comparability between periods.
Total RevenuesRevenues of $928.3 million increased 33.5% and beat the consensus estimate of $871 million by 6.5%. Higher commodity prices and solid operating execution supported the results.
U.S. exploration and production revenues increased 34.4% to $744 million. Canadian revenues advanced 43.1% to $183.6 million, showing that the revenue improvement extended across both major geographic businesses. Corporate contributed $0.7 million in total revenues.
MUR Benefits From Stronger Realized Oil PricesMurphy realized $99.14 per barrel of oil in the quarter, its highest level since 2022 and up 37% sequentially. Gas prices dipped seasonally this quarter, and gas prices realized $1.76 per thousand cubic feet.
MUR Posts Broad Production Across Key AssetsTotal production volumes reached 169,000 barrels of oil equivalent per day (Boe/d), at the upper end of guidance level of 161,000-169,000 Boe/d. Oil production totaled 85,300 barrels per day.
The onshore business produced 103,800 Boe/d, including 39,100 Boe/d from the Eagle Ford Shale, 58,100 Boe/d from Tupper Montney and 6,600 Boe/d from Kaybob Duvernay. Murphy brought six operated Eagle Ford wells and four Kaybob Duvernay wells online during the quarter.
Offshore production totaled about 65,000 Boe/d. The Gulf of America contributed 57,100 Boe/d, while offshore Canada produced 7,900 Boe/d. In the Gulf of America, Chinook #8 completed drilling and moved into completion activity, with first production expected in the fourth quarter of 2026.
Murphy's Operating Costs Decline Year Over YearTotal costs and expenses fell 4.9% year over year to $573.6 million. Lease operating expenses declined to $143.7 million from $215.6 million, offsetting higher exploration costs of $39.3 million compared with $10.4 million a year earlier.
Lease operating expense, excluding noncontrolling interest, averaged $8.83 per BOE. Selling and general expenses rose to $38.7 million from $36.9 million. Interest expenses were $24.9 million, down 0.8% year over year.
Murphy Advances International Growth ProjectsThe Bubale-1X well offshore Côte d'Ivoire discovered oil across 100 feet of net pay in two reservoirs. Murphy subsequently started the Bubale West-1X appraisal well and expects the broader appraisal program to include as many as five wells over the next 18-24 months.
In Vietnam, the Hai Su Vang appraisal program established an updated gross recoverable resource estimate of 200-300 million barrels of oil equivalents (Boe). Murphy is targeting a final investment decision by the fourth quarter of 2027. The Lac Da Vang project remains on track for first oil in the fourth quarter of 2026 after pipeline installation, topsides work and FSO mobilization progressed.
MUR Generates Solid Cash Flow and LiquidityIn second-quarter 2026, net cash provided by continuing operations was $655.9 million, up from $358.1 million a year ago. Operating cash flow excluding working-capital changes was $588.4 million, while free cash flow totaled $110 million.
As of June 30, 2026, Murphy had about $484 million in cash and cash equivalents and approximately $2.48 billion of liquidity. Total long-term debt stood at $1.55 billion. The company paid $50 million in dividends during the quarter and retained $550 million under its share repurchase authorization.
Murphy Raises Capital Spending OutlookFor the third quarter, MUR expects production of 171,000-179,000 Boe/d and capital expenditures of $380-$460 million, excluding noncontrolling interest. Exploration expense is projected at $135 million.
The company maintained full-year production guidance of 167,000-175,000 Boe/d. However, MUR raised its 2026 capital spending range to $1.5-$1.6 billion from the prior midpoint of $1.25 billion. This increase indicates appraisal spending at Bubale, accelerated Eagle Ford activity and higher Chinook #8 costs. For 2026, exploration expense is projected at $300 million.
Zacks Rank of MurphyMurphy currently has a Zacks Rank # 3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Other ReleasesDevon Energy Corporation (DVN - Free Report) reported second-quarter 2026 adjusted earnings of $1.57 per share, beating the Zacks Consensus Estimate of $1.30 by 20.77%.
Revenues of $7.41 billion surpassed the consensus estimate of $6.29 billion by 17.81% and increased 73.1% year over year. Strong oil pricing and contributions from the Coterra Energy merger supported the results.
TotalEnergies SE (TTE - Free Report) reported second-quarter 2026 operating earnings of $2.68 (€2.31) per share, which lagged the Zacks Consensus Estimate of $3.07 by 12.7%. The bottom line improved 70.7% from the year-ago figure of $1.57 (€1.38).
Total revenues for the second quarter were $57.1 billion, which increased from the year-ago reported figure of $47.9 billion by 27.8%. The metric lagged the Zacks Consensus Estimate of $60.18 billion by 5.13%.
CNX Resources Corporation (CNX - Free Report) reported second-quarter 2026 operating earnings of 72 cents per share, beating the Zacks Consensus Estimate of 57 cents by 26.3%. The bottom line increased 22% from the year-ago quarter’s 59 cents.
The company reported revenues of $389 million, which missed the Zacks Consensus Estimate of $413 million by 5.8%.
For the quarter ended June 2026, Murphy Oil (MUR - Free Report) reported revenue of $928.31 million, up 33.5% over the same period last year. EPS came in at $1.55, compared to $0.27 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $871.03 million, representing a surprise of +6.58%. The company delivered an EPS surprise of +2.65%, with the consensus EPS estimate being $1.51.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Murphy Oil performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Production - Net crude oil and condensate - Barrels per day - Total: 90.75 thousands of barrels of oil per day versus the six-analyst average estimate of 87.92 thousands of barrels of oil per day.Production - Net natural gas liquids - Barrels per day - Total: 11.32 thousands of barrels of oil per day versus the five-analyst average estimate of 10.16 thousands of barrels of oil per day.Production - Net natural gas - cubic feet per day - Total: 437.71 millions of cubic feet per day versus 421.92 millions of cubic feet per day estimated by five analysts on average.Production - Total net hydrocarbons - excluding NCI: 169.00 KBOE/D compared to the 167.60 KBOE/D average estimate based on five analysts.Production - Net natural gas - cubic feet per day - Onshore - United States: 32.86 millions of cubic feet per day versus the three-analyst average estimate of 31.29 millions of cubic feet per day.Production - Net natural gas - cubic feet per day - Offshore - United States: 49.18 millions of cubic feet per day versus 45.64 millions of cubic feet per day estimated by three analysts on average.Production - Net natural gas liquids - Barrels per day - Offshore - United States: 3.98 thousands of barrels of oil per day versus 3.88 thousands of barrels of oil per day estimated by three analysts on average.Production - Net natural gas liquids - Barrels per day - Onshore - United States: 6.77 thousands of barrels of oil per day compared to the 5.61 thousands of barrels of oil per day average estimate based on three analysts.Revenues- Exploration and production- Canada: $183.6 million versus $182.09 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +43.1% change.Revenues- Exploration and production- United States: $744 million compared to the $676.51 million average estimate based on three analysts. The reported number represents a change of +34.4% year over year.Revenues and other income- Revenue from sales to customers- Total: $926.33 million compared to the $862.97 million average estimate based on three analysts. The reported number represents a change of +35.6% year over year.Revenues and other income- Revenue from sales to customers- Revenue from production: $926.33 million compared to the $877.33 million average estimate based on three analysts. The reported number represents a change of +35.6% year over year.View all Key Company Metrics for Murphy Oil here>>>
Shares of Murphy Oil have returned +16.7% over the past month versus the Zacks S&P 500 composite's +3.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
Murphy Oil (MUR - Free Report) came out with quarterly earnings of $1.55 per share, beating the Zacks Consensus Estimate of $1.51 per share. This compares to earnings of $0.27 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +2.65%. A quarter ago, it was expected that this oil and gas producer would post earnings of $0.29 per share when it actually produced earnings of $0.32, delivering a surprise of +10.34%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
Murphy Oil, which belongs to the Zacks Oil and Gas - Exploration and Production - United States industry, posted revenues of $928.31 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 6.58%. This compares to year-ago revenues of $695.57 million. The company has topped consensus revenue estimates four times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Murphy Oil shares have added about 22.8% since the beginning of the year versus the S&P 500's gain of 13%.
What's Next for Murphy Oil?While Murphy Oil has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Murphy Oil was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.63 on $736.66 million in revenues for the coming quarter and $3.14 on $3.09 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Oil and Gas - Exploration and Production - United States is currently in the bottom 13% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Mach Natural Resources LP (MNR - Free Report) , another stock in the same industry, has yet to report results for the quarter ended June 2026.
This company is expected to post quarterly earnings of $0.34 per share in its upcoming report, which represents a year-over-year change of -55.3%. The consensus EPS estimate for the quarter has been revised 6.3% higher over the last 30 days to the current level.
Mach Natural Resources LP's revenues are expected to be $369.3 million, up 28% from the year-ago quarter.
HOUSTON--(BUSINESS WIRE)--Murphy Oil Corporation (NYSE: MUR) today announced its financial and operating results for the second quarter ended June 30, 2026. As a supplement to this release, Murphy has also furnished a Quarterly Stockholder Update.
Unless otherwise noted, the financial and operating highlights and metrics discussed in this commentary exclude noncontrolling interest (NCI).†
(Millions of dollars, except volumes and per share amounts)
Three months
ended June 30,
2026
Net income attributable to Murphy
$
232.2
Net income attributable to Murphy per common share - Diluted
$
1.59
Adjusted net income from continuing operations attributable to Murphy
(Non-GAAP) 1
$
225.8
Adjusted net income from continuing operations per average common share - Diluted (Non-GAAP) 1
$
1.55
Adjusted EBITDA attributable to Murphy (Non-GAAP) 1
$
592.7
Adjusted EBITDAX attributable to Murphy (Non-GAAP) 1
$
632.0
Net cash provided by continuing operations activities
$
655.9
Operating cash flow excluding working capital adjustments (Non-GAAP) 1
$
588.4
Free cash flow (Non-GAAP) 1
$
110.0
Oil production, net (BOPD) 2
85,265
Total production, net (BOEPD) 2
168,995
Capital expenditures (CAPEX)
$
476.0
Lease operating expense from continuing operations ($/BOE) 2
$
8.83
Highlights for the second quarter include:
Produced 169,000 BOEPD, at the upper end of quarterly guidance primarily due to continued strong well performance at Tupper Montney Earned net income of $232 million in 2Q 2026 compared to $22 million in 2Q 2025, with the increase driven by stronger commodity prices and continued operational outperformance Announced oil discovery at the Bubale-1X exploration well in Block CI-709 offshore Côte d'Ivoire, with the well encountering 100 feet of net pay across two reservoirs Concluded the Hai Su Vang (Golden Sea Lion) appraisal program in Vietnam with the completion of the Hai Su Vang-4X appraisal well, which was expensed as a dry hole Completed drilling operations and initiated completion activities at the Chinook #8 development well in the Gulf of America Finalized pipeline installation and launched the FSO (Floating Storage and Offloading vessel) at the Lac Da Vang development project in Vietnam Executed onshore program as planned, bringing online six Eagle Ford Shale wells and four Kaybob Duvernay wells Subsequent to the second quarter:
Spud the Bubale West-1X appraisal well in Block CI-103 offshore Côte d'Ivoire Spud the Lac Da Trang (White Camel) North-1X exploration well in Block 15-1/05 in Vietnam Completed the installation of topsides and mobilized FSO to final location for the Lac Da Vang development project Expanded the full-year capital program to advance high-impact appraisal and development opportunities, increasing the CAPEX midpoint from $1.25 billion to $1.55 billion Published the 2026 Sustainability Report, highlighting Murphy’s commitment to responsible operations, corporate governance, and long-term shareholder value creation “Murphy enters the second half of 2026 with a growing exploration pipeline and multiple pathways to long-term shareholder value creation. Bubale-1X has broadened our opportunity set, Hai Su Vang has progressed from appraisal to development planning, and Lac Da Vang is nearing first oil. The breadth of our portfolio creates optionality, allowing us to prioritize the highest-value opportunities and maximize shareholder returns,” stated Eric M. Hambly, President and Chief Executive Officer.
SHAREHOLDER RETURNS
During the second quarter of 2026, we paid $50 million in quarterly dividends.
While the Company elected not to repurchase shares in the second quarter, it retains significant flexibility with $550 million remaining under its share repurchase authorization. As of June 30, 2026, there were 143.4 million shares outstanding.
FINANCIAL POSITION
Murphy had approximately $2.48 billion of liquidity on June 30, 2026, comprised of the undrawn $2.00 billion senior unsecured credit facility and approximately $480 million of cash and cash equivalents, inclusive of NCI.
As of June 30, 2026, Murphy’s total debt of $1.55 billion was comprised of long-term, fixed-rate notes, with a weighted average maturity of 8.7 years and a weighted average coupon of 6.3 percent.
ONSHORE OPERATIONS SUMMARY
In the second quarter of 2026, the onshore business produced approximately 103,800 BOEPD, which included 38 percent liquids.
Onshore
Oil Production
(BOPD)
Total Production
(BOEPD)
Eagle Ford Shale
26,900
39,100
Tupper Montney
200
58,100
Kaybob Duvernay
4,700
6,600
Eagle Ford Shale – Brought online six new wells in Catarina, with an additional eight operated Catarina wells and six non-operated Tilden wells coming online subsequent to quarter end.
Onshore Canada – Brought online a four-well pad in Kaybob Duvernay and progressed an eight-well pad in Tupper Montney, which came online subsequent to quarter end.
OFFSHORE OPERATIONS SUMMARY
Excluding NCI, the offshore business produced approximately 65,000 BOEPD in the second quarter of 2026, which included 88 percent liquids.
Gulf of America – Completed drilling operations and initiated completion activities at the high-impact Chinook #8 development well. The well is expected to come online in the fourth quarter of 2026 with a gross initial production rate of approximately 15 MBOEPD.
Vietnam – Successfully installed the pipelines and launched the FSO at the Lac Da Vang development project. Subsequent to quarter end, the topsides were installed and the FSO was mobilized to its final destination. The project remains on track and is expected to achieve first oil in the fourth quarter of this year.
PRODUCTION AND CAPITAL EXPENDITURE GUIDANCE
The table below illustrates third quarter and full year 2026 guidance.
3Q 2026 Guidance
Producing Asset
Oil
(BOPD)
NGLs
(BOPD)
Natural Gas
(MCFD)
Total
(BOEPD)
Eagle Ford Shale
28,400
6,400
33,100
40,300
Gulf of America, excl. NCI
38,800
3,300
39,900
48,800
Tupper Montney
100
—
436,000
72,800
Kaybob Duvernay
3,800
600
9,500
6,000
Offshore Canada
6,900
—
—
6,900
Other
200
—
—
200
Total Net Production, excl. NCI 1 (BOEPD)
171,000 to 179,000
Capital Expenditures, excl. NCI 2 ($ MM)
$380 - $460
Exploration Expense 3 ($ MM)
$135
Full Year 2026 Guidance
Total Net Production, excl. NCI 4 (BOEPD)
167,000 to 175,000
Capital Expenditures, excl. NCI 5 ($ MM)
$1,500 to $1,600
Exploration Expense 6 ($ MM)
$300
1
Excludes noncontrolling interest of MP GOM of 4,800 BOPD of oil, 200 BOPD of NGLs and 1,800 MCFD natural gas
2
Excludes noncontrolling interest of MP GOM of $20 million
3
Includes assumed dry hole expense of $100 MM in 3Q 2026
4
Excludes noncontrolling interest of MP GOM of 5,500 BOPD of oil, 200 BOPD of NGLs and 1,700 MCFD natural gas
5
Excludes noncontrolling interest of MP GOM of $65 million
6
Includes dry hole expense of $80 MM in 1H 2026, and assumed dry hole expense of $100 MM for 2H 2026
The table below details the 2026 onshore well delivery plan by quarter.
2026 Onshore Wells Online
1Q
2026A
2Q
2026A
3Q
2026E
4Q
2026E
2026E
Total
Eagle Ford Shale
15
6
8
6
35
Kaybob Duvernay
–
4
–
–
4
Tupper Montney
–
–
8
–
8
Non-Op Eagle Ford Shale
–
–
6
4
10
Note: All well counts are shown gross. Eagle Ford Shale non-operated working interest averages 23 percent.
CONFERENCE CALL AND WEBCAST SCHEDULED FOR AUGUST 6, 2026
Murphy will host a conference call to discuss second quarter 2026 financial and operating results on Thursday, August 6, 2026, at 9:00 a.m. ET. The call can be accessed either via the Internet through the events calendar on the Murphy Oil Corporation Investor Relations website at http://ir.murphyoilcorp.com or via telephone by dialing toll free 833-461-5787, conference ID 127579651. For additional information, please refer to the Second Quarter 2026 Earnings Presentation and Quarterly Stockholder Update available under the News and Events section of the Investor Relations website.
FINANCIAL DATA
Summary financial data and operating statistics for second quarter 2026, with comparisons to the same period from the previous year, are contained in the attached schedules. Additionally, a schedule indicating the impacts of items affecting comparability of results between periods and a reconciliation of the non-GAAP financial measures of adjusted net income from continuing operations attributable to Murphy, EBITDA, EBITDAX, adjusted EBITDA, adjusted EBITDAX, free cash flow and adjusted free cash flow to the most directly comparable GAAP financial measures for such periods are also included.
ABOUT MURPHY OIL CORPORATION
Murphy Oil Corporation is an independent oil and natural gas company with a multi-basin onshore and offshore portfolio and significant exploration opportunities. The Company has more than a century-long history of demonstrating strong execution and innovative, full-cycle development capabilities with a focus on value creation that drives shareholder returns. Murphy’s foresight and financial discipline, along with its culture of adaptability and accountability, will allow the Company to continue its outstanding legacy and exceptional reputation. The Company’s current operations include extensive inventory located onshore in the Eagle Ford Shale, Tupper Montney and Kaybob Duvernay, as well as offshore in the Gulf of America and Canada. Murphy also strives to create long-term shareholder value through offshore exploration and development in the Gulf of America, Vietnam and Côte d’Ivoire. Additional information can be found on the Company’s website at www.murphyoilcorp.com.
FORWARD-LOOKING STATEMENTS
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are generally identified through the inclusion of words such as “aim”, “anticipate”, “believe”, “drive”, “estimate”, “expect”, “forecast”, “future”, “goal”, “guidance”, “intend”, “may”, “objective”, “outlook”, “plan”, “position”, “potential”, “project”, “seek”, “should”, “strategy”, “target”, “will” or variations of such words and other similar expressions. These statements, which express management’s current views concerning future events, results and plans, are subject to inherent risks, uncertainties and assumptions (many of which are beyond our control) and are not guarantees of performance. In particular, statements, express or implied, concerning the Company’s future operating results or activities and returns or the Company's ability and intent to replace or increase reserves, increase production, generate returns and rates of return, replace or increase drilling locations, reduce or otherwise control operating costs and expenditures, generate cash flows, pay down or refinance indebtedness, achieve, reach or otherwise meet initiatives, plans, goals, ambitions or targets with respect to emissions, safety matters or other environmental, social and governance matters, make capital expenditures, pay and/or increase dividends or make share repurchases and other capital allocation decisions are forward-looking statements. Factors that could cause one or more of these future events, results or plans not to occur as implied by any forward-looking statement, which consequently could cause actual results or activities to differ materially from the expectations expressed or implied by such forward-looking statements, include, but are not limited to: macro conditions in the oil and natural gas industry, including supply and demand levels, actions taken by major oil exporters and the resulting impacts on commodity prices; geopolitical concerns (including the current conflict in Iran); increased volatility or deterioration in the success rate of our exploration programs or in our ability to maintain production rates and replace reserves; reduced customer demand for our products due to environmental, regulatory, technological or other reasons; adverse foreign exchange movements; political and regulatory instability in the markets where we do business; the impact on our operations or markets of health pandemics and related government responses; natural hazards impacting our operations or markets; any other deterioration in our business, markets or prospects; cyber attacks and other cybersecurity risks; any failure to obtain necessary regulatory approvals; the impact of current and future laws, rulings and governmental regulations; any inability to service or refinance our outstanding debt or to access debt markets at acceptable prices; or adverse developments in the U.S. or global capital markets, credit markets, banking system or economies in general, including inflation, trade policies, tariffs and other trade restrictions. For further discussion of factors that could cause one or more of these future events or results not to occur as implied by any forward-looking statement, see “Risk Factors” in our most recent Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission (SEC) and any subsequent Quarterly Report on Form 10-Q or Current Report on Form 8-K that we file, available from the SEC’s website and from Murphy Oil Corporation’s website at http://ir.murphyoilcorp.com. Investors and others should note that we may announce material information using SEC filings, press releases, public conference calls, webcasts and the investors page of our website. We may use these channels to distribute material information about the Company; therefore, we encourage investors, the media, business partners and others interested in the Company to review the information we post on our website. The information on our website is not part of, and is not incorporated into, this news release. Each forward-looking statement contained in this news release speaks only as of the date of this news release. Except as required by applicable law, Murphy Oil Corporation undertakes no duty to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
NON-GAAP FINANCIAL MEASURES
This news release contains certain non-GAAP financial measures that management believes are useful tools for internal use and the investment community in evaluating Murphy Oil Corporation’s overall financial performance. These non-GAAP financial measures are broadly used to value and compare companies in the crude oil and natural gas industry. Not all companies define these measures in the same way. In addition, these non-GAAP financial measures are not a substitute for financial measures prepared in accordance with US generally accepted accounting principles (GAAP) and should therefore be considered only as supplemental to such GAAP financial measures. Please see the attached schedules for reconciliations of the differences between the non-GAAP financial measures used in this news release and the most directly comparable GAAP financial measures.
† In accordance with GAAP, Murphy reports the 100 percent interest, including a 20 percent noncontrolling interest (NCI), in its subsidiary, MP Gulf of Mexico, LLC (MP GOM). The GAAP financials include the NCI portion of revenue, costs, assets and liabilities and cash flows. Unless otherwise noted, the financial and operating highlights and metrics discussed in this news release, but not the accompanying schedules, exclude the NCI, thereby representing only the amounts attributable to Murphy.
MURPHY OIL CORPORATION
CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited)
Three Months Ended
June 30,
Six Months Ended
June 30,
(Thousands of dollars, except per share amounts)
2026
2025
2026
2025
Revenues and other income
Revenue from production
$
926,332
$
683,065
$
1,658,686
$
1,355,795
Total revenue from sales to customers
926,332
683,065
1,658,686
1,355,795
Gain on derivative instruments
—
10,808
—
1,349
Gain on sale of assets and other operating income
1,975
1,697
3,173
4,137
Total revenues and other income
928,307
695,570
1,661,859
1,361,281
Costs and expenses
Lease operating expenses
143,719
215,554
287,183
420,633
Severance and ad valorem taxes
14,991
10,828
28,737
19,478
Transportation, gathering and processing
45,274
54,070
92,335
102,921
Exploration expenses, including undeveloped lease amortization
39,303
10,399
122,118
24,887
Selling and general expenses
38,670
36,919
73,540
67,834
Depreciation, depletion and amortization
262,106
259,324
516,482
453,484
Accretion of asset retirement obligations
14,870
14,432
29,384
28,477
Other operating expense
14,706
1,833
19,147
7,462
Total costs and expenses
573,639
603,359
1,168,926
1,125,176
Operating income from continuing operations
354,668
92,211
492,933
236,105
Other income (loss)
Other income (loss)
11,247
(32,304
)
21,099
(29,902
)
Interest expense, net
(24,917
)
(25,053
)
(53,894
)
(48,576
)
Total other loss
(13,670
)
(57,357
)
(32,795
)
(78,478
)
Income from continuing operations before income taxes
340,998
34,854
460,138
157,627
Income tax expense
77,030
1,032
126,975
33,754
Income from continuing operations
263,968
33,822
333,163
123,873
Income (loss) from discontinued operations, net of income taxes
(437
)
1,302
(979
)
669
Net income including noncontrolling interest
263,531
35,124
332,184
124,542
Less: Net income attributable to noncontrolling interest
31,356
12,844
47,023
29,226
NET INCOME ATTRIBUTABLE TO MURPHY
$
232,175
$
22,280
$
285,161
$
95,316
NET INCOME (LOSS) PER COMMON SHARE – BASIC
Continuing operations
$
1.62
$
0.15
$
2.00
$
0.66
Discontinued operations
—
0.01
(0.01
)
—
Net income
$
1.62
$
0.16
$
1.99
$
0.66
NET INCOME (LOSS) PER COMMON SHARE – DILUTED
Continuing operations
$
1.59
$
0.15
$
1.96
$
0.66
Discontinued operations
—
0.01
(0.01
)
—
Net income
$
1.59
$
0.16
$
1.95
$
0.66
Cash dividends per common share
$
0.350
$
0.325
$
0.700
$
0.650
Average common shares outstanding (thousands)
Basic
143,351
142,721
143,216
143,502
Diluted
146,149
143,216
145,894
144,144
MURPHY OIL CORPORATION
CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited)
Three Months Ended
June 30,
Six Months Ended
June 30,
(Thousands of dollars)
2026
2025
2026
2025
Operating Activities
Net income including noncontrolling interest
$
263,531
$
35,124
$
332,184
$
124,542
Adjustments to reconcile net income to net cash provided by continuing operations activities
Depreciation, depletion and amortization
262,106
259,324
516,482
453,484
Unsuccessful exploration well costs and previously suspended exploration costs
13,542
(966
)
80,585
(776
)
Deferred income tax expense
55,685
4,873
92,549
21,216
Accretion of asset retirement obligations
14,870
14,432
29,384
28,477
Long-term non-cash compensation
10,260
12,111
25,693
22,016
Amortization of undeveloped leases
2,565
2,255
4,835
3,909
(Income) loss from discontinued operations
437
(1,302
)
979
(669
)
Unrealized gain on derivative instruments
—
(10,287
)
—
(1,371
)
Other operating activities, net
(34,540
)
11,797
(65,121
)
(2
)
Net (increase) decrease in non-cash working capital
67,495
30,689
(40,477
)
7,905
Net cash provided by continuing operations activities
655,951
358,050
977,093
658,731
Investing Activities
Property additions and dry hole costs
(478,363
)
(309,641
)
(866,159
)
(678,043
)
Acquisition of oil and natural gas properties
(832
)
—
(23,513
)
(1,383
)
Net cash required by investing activities
(479,195
)
(309,641
)
(889,672
)
(679,426
)
Financing Activities
Retirement of debt
—
—
(227,489
)
—
Early redemption of debt cost
—
—
(2,369
)
—
Debt issuance
—
—
500,000
—
Debt issuance cost
—
—
(7,819
)
—
Borrowings on revolving credit facility
250,000
100,000
425,000
350,000
Repayment of revolving credit facility
(250,000
)
(100,000
)
(525,000
)
(150,000
)
Issue costs of revolving credit facility
(61
)
(18
)
(12,274
)
(18
)
Repurchase of common stock, including excise tax
—
(2,548
)
(777
)
(102,620
)
Cash dividends paid
(50,171
)
(46,386
)
(100,344
)
(93,412
)
Distributions to noncontrolling interest
(21,164
)
(11,210
)
(21,164
)
(18,165
)
Withholding tax on stock-based incentive awards
—
19
(7,849
)
(7,654
)
Finance lease obligation payments
(451
)
(370
)
(870
)
(486
)
Net cash provided (required) by financing activities
(71,847
)
(60,513
)
19,045
(22,355
)
Effect of exchange rate changes on cash and cash equivalents
213
(1,179
)
213
(888
)
Net increase (decrease) in cash and cash equivalents
105,122
(13,283
)
106,679
(43,938
)
Cash and cash equivalents at beginning of period
378,753
392,914
377,196
423,569
Cash and cash equivalents at end of period
$
483,875
$
379,631
$
483,875
$
379,631
MURPHY OIL CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited)
(Thousands of dollars)
June 30,
2026
December 31,
2025
ASSETS
Cash and cash equivalents
$
483,875
$
377,196
Other current assets
542,967
439,516
Total current assets
$
1,026,842
$
816,712
Property, plant and equipment, net
8,434,791
8,136,346
Operating lease assets, net
702,528
805,464
Other long-term assets
113,973
74,104
Total assets
$
10,278,134
$
9,832,626
LIABILITIES AND EQUITY
Current maturities of long-term debt, finance lease
$
2,578
$
2,514
Accounts payable
671,238
572,183
Operating lease liabilities
280,162
278,834
Other current liabilities
248,387
209,218
Total current liabilities
$
1,202,365
$
1,062,749
Long-term debt, including finance lease obligation
1,547,864
1,382,566
Asset retirement obligations
981,355
970,908
Non-current operating lease liabilities
433,128
537,773
Other long-term liabilities
710,232
641,933
Total liabilities
$
4,874,944
$
4,595,929
Murphy Shareholders' Equity
5,259,014
5,118,380
Noncontrolling interest
144,176
118,317
Total liabilities and equity
$
10,278,134
$
9,832,626
MURPHY OIL CORPORATION
SCHEDULE OF ADJUSTED NET INCOME (LOSS) (unaudited)
Three Months Ended
June 30,
Six Months Ended
June 30,
(Millions of dollars, except per share amounts)
2026
2025
2026
2025
Net income attributable to Murphy (GAAP) 1
$
232.2
$
22.3
$
285.2
$
95.3
Discontinued operations (income) loss
0.4
(1.3
)
1.0
(0.7
)
Net income from continuing operations attributable to Murphy
232.6
21.0
286.2
94.6
Adjustments:
Foreign exchange (gain) loss
(9.2
)
34.3
(18.6
)
34.3
Unrealized gain on derivative instruments
—
(10.3
)
—
(1.4
)
Total adjustments, before taxes
(9.2
)
24.0
(18.6
)
32.9
Income tax (benefit) expense related to adjustments
2.4
(6.5
)
4.8
(8.3
)
Total adjustments, after taxes
(6.8
)
17.5
(13.8
)
24.6
Adjusted net income from continuing operations attributable to Murphy (Non-GAAP)
$
225.8
$
38.5
$
272.4
$
119.2
Adjusted net income from continuing operations per average diluted share (Non-GAAP)
$
1.55
$
0.27
$
1.87
$
0.83
Non-GAAP Financial Measures
Presented above is a reconciliation of net income (loss) to adjusted net income from continuing operations attributable to Murphy. Adjusted net income excludes certain items that management believes affect the comparability of results between periods. Management believes this is important information to provide because it is used by management to evaluate the Company’s operational performance and trends between periods and relative to its industry competitors. Management also believes this information may be useful to investors and analysts to gain a better understanding of the Company’s financial results. Adjusted net income is a non-GAAP financial measure and should not be considered a substitute for net income (loss) as determined in accordance with GAAP.
The pretax and income tax impacts for adjustments in the above table are shown below by area of operation and geographical location and corporate, as applicable, and exclude the share attributable to noncontrolling interests.
Three Months Ended June 30, 2026
Six Months Ended June 30, 2026
(Millions of dollars)
Pretax
Tax
Net
Pretax
Tax
Net
Corporate
$
(9.2
)
$
2.4
$
(6.8
)
$
(18.6
)
$
4.8
$
(13.8
)
Total adjustments
$
(9.2
)
$
2.4
$
(6.8
)
$
(18.6
)
$
4.8
$
(13.8
)
MURPHY OIL CORPORATION
SCHEDULE OF EBITDA, ADJUSTED EBITDA, EBITDAX AND ADJUSTED EBITDAX (unaudited)
Three Months Ended
June 30,
Six Months Ended
June 30,
(Millions of dollars)
2026
2025
2026
2025
Net income attributable to Murphy (GAAP) 1
$
232.2
$
22.3
$
285.2
$
95.3
Income tax expense
77.0
1.1
127.0
33.8
Interest expense, net
24.9
25.1
53.9
48.6
Depreciation, depletion and amortization expense 1
254.0
250.8
500.8
438.2
EBITDA attributable to Murphy (Non-GAAP) 1
$
588.1
$
299.3
$
966.9
$
615.9
Exploration expenses 1
39.3
10.3
122.1
24.8
EBITDAX attributable to Murphy (Non-GAAP) 1
$
627.4
$
309.6
$
1,089.0
$
640.7
EBITDA attributable to Murphy (Non-GAAP) 1
$
588.1
$
299.3
$
966.9
$
615.9
Foreign exchange (gain) loss
(9.2
)
34.3
(18.6
)
34.3
Accretion of asset retirement obligations 1
13.4
12.9
26.3
25.4
Unrealized gain on derivative instruments
—
(10.3
)
—
(1.4
)
Discontinued operations (income) loss
0.4
(1.3
)
1.0
(0.7
)
Adjusted EBITDA attributable to Murphy (Non-GAAP) 1
$
592.7
$
334.9
$
975.6
$
673.5
Exploration expenses 1
39.3
10.3
122.1
24.8
Adjusted EBITDAX attributable to Murphy
(Non-GAAP) 1
$
632.0
$
345.2
$
1,097.7
$
698.3
Non-GAAP Financial Measures
Presented above is a reconciliation of net income (loss) to earnings before interest, taxes, depreciation and amortization (EBITDA), adjusted EBITDA, earnings before interest, taxes, depreciation and amortization, and exploration expenses (EBITDAX) and adjusted EBITDAX. Management believes EBITDA, adjusted EBITDA, EBITDAX and adjusted EBITDAX are important information to provide because they are used by management to evaluate the Company’s operational performance and trends between periods and relative to its industry competitors. Adjusted EBITDAX excludes certain items that management believes affect the comparability of results between periods. Management also believes this information may be useful to investors and analysts to gain a better understanding of the Company’s financial results. EBITDA, adjusted EBITDA, EBITDAX and adjusted EBITDAX are non-GAAP financial measures and should not be considered a substitute for net income (loss) or cash provided by operating activities as determined in accordance with GAAP.
MURPHY OIL CORPORATION
SCHEDULE OF FREE CASH FLOW AND ADJUSTED FREE CASH FLOW (unaudited)
Three Months Ended
June 30,
Six Months Ended
June 30,
(Millions of dollars)
2026
2025
2026
2025
Net cash provided by continuing operations activities (GAAP)
$
655.9
$
358.1
$
977.1
$
658.7
Exclude: increase (decrease) in non-cash working capital
(67.5
)
(30.7
)
40.5
(7.9
)
Operating cash flow excluding working capital adjustments (Non-GAAP)
588.4
327.4
1,017.6
650.8
Less: property additions and dry hole costs 1
(478.4
)
(309.6
)
(866.2
)
(678.0
)
Free cash flow (Non-GAAP)
$
110.0
$
17.8
$
151.4
$
(27.2
)
Adjustments:
Cash dividends paid
(50.1
)
(46.4
)
(100.3
)
(93.4
)
Distributions to noncontrolling interest
(21.2
)
(11.2
)
(21.2
)
(18.2
)
Debt costs
(0.1
)
—
(22.5
)
—
Withholding tax on stock-based incentive awards
—
—
(7.8
)
(7.7
)
Acquisition of oil and natural gas properties
(0.8
)
—
(23.5
)
(1.4
)
Adjusted free cash flow (Non-GAAP)
$
37.8
$
(39.8
)
$
(23.9
)
$
(147.9
)
Non-GAAP Financial Measures
Presented above is a reconciliation of net cash provided by continuing operations activities to free cash flow (FCF) and adjusted FCF. Management believes FCF and adjusted FCF are important information to provide because they are additional measures of liquidity and are used by management to evaluate the Company’s ability to internally generate cash, excluding the timing impacts of working capital, and to measure funds available for investing and financing activities. Management also believes this information may be useful to investors and analysts to monitor the Company’s financial health over time. FCF and adjusted FCF are non-GAAP financial measures and should not be considered a substitute for net cash provided by operating, investing, or financing activities as determined in accordance with GAAP.
MURPHY OIL CORPORATION
FUNCTIONAL RESULTS OF OPERATIONS (unaudited)
Three Months Ended
June 30, 2026
Three Months Ended
June 30, 2025
(Millions of dollars)
Revenues
Income
(Loss)
Revenues
Income
(Loss)
Exploration and production
United States 1
$
744.0
$
274.2
$
553.5
$
86.5
Canada
183.6
51.9
128.3
10.5
Other
—
(30.2
)
2.9
(7.3
)
Total exploration and production
927.6
295.9
684.7
89.7
Corporate
0.7
(32.0
)
10.9
(55.9
)
Total from continuing operations
928.3
263.9
695.6
33.8
Discontinued operations, net of tax
—
(0.4
)
—
1.3
Total including noncontrolling interest
$
928.3
$
263.5
$
695.6
$
35.1
Less: Net income attributable to noncontrolling interest
31.3
12.8
Net income attributable to Murphy
$
232.2
$
22.3
Six Months Ended
June 30, 2026
Six Months Ended
June 30, 2025
(Millions of dollars)
Revenues
Income
(Loss)
Revenues
Income
(Loss)
Exploration and production
United States ¹
$
1,319.5
$
430.9
$
1,063.0
$
194.4
Canada
338.8
83.5
294.0
52.0
Other
2.9
(112.8
)
2.9
(18.5
)
Total exploration and production
1,661.2
401.6
1,359.9
227.9
Corporate
0.7
(68.4
)
1.4
(104.1
)
Total from continuing operations
1,661.9
333.2
1,361.3
123.8
Discontinued operations, net of tax
—
(1.0
)
—
0.7
Total including noncontrolling interest
$
1,661.9
$
332.2
$
1,361.3
$
124.5
Less: Net income attributable to noncontrolling interest
HOUSTON--(BUSINESS WIRE)--The Board of Directors of Murphy Oil Corporation (NYSE: MUR) today declared a quarterly cash dividend on the Common Stock of Murphy Oil Corporation of $0.35 per share, or $1.40 per share on an annualized basis. The dividend is payable on September 1, 2026, to stockholders of record as of August 17, 2026.
ABOUT MURPHY OIL CORPORATION
Murphy Oil Corporation is an independent oil and natural gas company with a multi-basin onshore and offshore portfolio and significant exploration opportunities. The company has more than a century-long history of demonstrating strong execution and innovative, full-cycle development capabilities with a focus on value creation that drives shareholder returns. Murphy’s foresight and financial discipline, along with its culture of adaptability and accountability, will allow the company to continue its outstanding legacy and exceptional reputation. The company’s current operations include extensive inventory located onshore in the Eagle Ford Shale, Tupper Montney and Kaybob Duvernay, as well as offshore in the Gulf of America and Canada. Murphy also strives to create long-term shareholder value through offshore exploration and development in the Gulf of America, Vietnam and Côte d’Ivoire. Additional information can be found on the company’s website at www.murphyoilcorp.com.
Key Takeaways Murphy Oil is expected to post Q2 revenues of $871M and EPS of $1.51, both up sharply year over year.Q2 production is projected at 161,000-169,000 Boep/d, with 94,300 Boep/d from domestic operations.Six Eagle Ford wells and four Kaybob Duvernay wells were planned to come online and support earnings. Murphy Oil Corporation (MUR - Free Report) is expected to report a year-over-year increase in both top and bottom lines when it reports second-quarter 2026 results on Aug. 5, after market close.
The Zacks Consensus Estimate for revenues is pinned at $871 million, indicating an increase of 25.33% from the year-ago reported figure. The consensus mark for earnings is pegged at $1.51 per share, indicating a massive year-over-year growth of 459.26%. The bottom-line estimate has gone up 36.04% over the past 60 days.
Image Source: Zacks Investment Research
What the Zacks Model UnveilsOur model predicts an earnings beat for MUR this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. That is exactly the case here, as you can see below.
You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.
Earnings ESP: MUR has an Earnings ESP of +0.25%.
Zacks Rank: Murphy Oil currently holds a Zacks Rank #3.
Earnings Surprise by Others This SeasonSome other companies in the same sector also have the right combination of the two factors for an earnings beat this season are Calumet, Inc. (CLMT - Free Report) , Western Midstream Partners (WES - Free Report) and National Energy Services Reunited Corp. (NESR - Free Report) . CLMT, WES and NESR have an Earnings ESP of +169.57%, +0.33% and +7.80%, respectively and currently carry a Zacks Rank #2 each. You can see the complete list of today’s Zacks #1 Rank stocks here.
Major Drivers Behind MUR’s Q2 Earnings PerformanceMurphy Oil’s second-quarter total production (excluding NCI) is expected to be in the range of 161,000-169,000 barrels of oil equivalents per day (Boep/d). Nearly 94,300 Boep/d will come from Murphy Oil’s domestic operation in the Gulf of America and Eagle Ford shale.
Murphy Oil does not have any direct exposure to crude in the Middle East, which is likely to have allowed it to keep the volumes steady during the second quarter.
The company’s plan to bring 6 wells online in the Eagle Ford Shale and 4 wells in Kaybob Duvernay is expected to have an impact on second-quarter earnings.
Entropy Technologies LP acquired a new stake in shares of Murphy Oil Corporation (NYSE:MUR – Free Report) during the first quarter, according to its most recent disclosure with the SEC. The fund acquired 44,043 shares of the oil and gas producer’s stock, valued at approximately $1,817,000.
A number of other hedge funds also recently made changes to their positions in MUR. CIBC Private Wealth Group LLC purchased a new position in Murphy Oil during the fourth quarter valued at approximately $26,000. Leonteq Securities AG purchased a new stake in shares of Murphy Oil in the first quarter worth $29,000. Valued Wealth Advisors LLC raised its position in shares of Murphy Oil by 14,700.0% during the 1st quarter. Valued Wealth Advisors LLC now owns 740 shares of the oil and gas producer’s stock valued at $31,000 after purchasing an additional 735 shares during the period. Torren Management LLC bought a new stake in shares of Murphy Oil during the 4th quarter valued at $37,000. Finally, Farther Finance Advisors LLC lifted its stake in shares of Murphy Oil by 72.9% during the 4th quarter. Farther Finance Advisors LLC now owns 1,701 shares of the oil and gas producer’s stock valued at $53,000 after buying an additional 717 shares in the last quarter. 78.31% of the stock is currently owned by institutional investors.
Murphy Oil Stock Performance NYSE MUR opened at $38.96 on Monday. The stock has a market capitalization of $5.59 billion, a PE ratio of 66.04 and a beta of 0.52. The business has a 50 day simple moving average of $36.31 and a two-hundred day simple moving average of $35.94. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.83 and a quick ratio of 0.77. Murphy Oil Corporation has a 1-year low of $21.86 and a 1-year high of $43.34.
Murphy Oil (NYSE:MUR – Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The oil and gas producer reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.03. The business had revenue of $732.35 million for the quarter, compared to the consensus estimate of $702.96 million. Murphy Oil had a return on equity of 3.09% and a net margin of 3.02%.The company’s revenue was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.56 EPS. On average, research analysts predict that Murphy Oil Corporation will post 3.13 EPS for the current fiscal year.
Murphy Oil News Summary Here are the key news stories impacting Murphy Oil this week:
Positive Sentiment: Zacks Research raised its Q2 2026 EPS estimate for Murphy Oil to $0.98 from $0.80 and lifted FY2026 EPS to $2.85 from $2.69, suggesting better near-term profitability expectations. Neutral Sentiment: The firm’s current full-year consensus earnings estimate remains $3.09 per share, so the stock is still being judged against a relatively steady Wall Street benchmark. Negative Sentiment: Zacks Research trimmed several longer-dated forecasts, including Q1 2027 EPS to $0.58 from $0.62, Q3 2026 EPS to $0.86 from $0.87, Q3 2027 EPS to $0.81 from $0.83, Q4 2027 EPS to $0.66 from $0.68, Q2 2028 EPS to $0.65 from $0.70, and FY2028 EPS to $2.74 from $2.91, pointing to softer long-term earnings momentum. Negative Sentiment: FY2027 EPS estimates were also cut to $2.72 from $2.81, reinforcing the view that analysts see some compression in future profitability for Murphy Oil Corporation (NYSE: MUR). Wall Street Analyst Weigh In Several analysts recently issued reports on MUR shares. Mizuho increased their target price on Murphy Oil from $39.00 to $44.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 27th. Wall Street Zen downgraded Murphy Oil from a “buy” rating to a “hold” rating in a research note on Saturday, June 27th. Jefferies Financial Group lowered shares of Murphy Oil from a “buy” rating to an “underperform” rating in a report on Thursday, June 4th. Weiss Ratings reiterated a “hold (c)” rating on shares of Murphy Oil in a research report on Wednesday, June 24th. Finally, UBS Group lowered their target price on shares of Murphy Oil from $44.00 to $41.00 and set a “neutral” rating on the stock in a report on Tuesday, July 21st. Three research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $38.33.
Check Out Our Latest Stock Report on Murphy Oil
Murphy Oil Profile (Free Report)
Murphy Oil Corporation is an independent upstream oil and gas company engaged in the exploration, development and production of crude oil, natural gas and natural gas liquids. The company’s operations encompass conventional onshore and offshore reservoirs, with an emphasis on liquids-rich properties and deepwater assets. Through a combination of proprietary technologies and strategic joint ventures, Murphy Oil seeks to optimize recovery rates and manage its portfolio to balance long-term resource development with operational flexibility.
Murphy Oil’s exploration and production activities are geographically diversified.
Recommended Stories Five stocks we like better than Murphy Oil RTX and Lockheed Earnings: Can Strong Guidance Reset the Defense Trade? These 4 Earnings Reports Expose the Market’s Growing Economic Divide Broadcom May Be the Biggest Winner From Alphabet’s Earnings Volatility Is Back and These 3 Market Tollbooths Are Best Positioned to Profit Want to see what other hedge funds are holding MUR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Murphy Oil Corporation (NYSE:MUR – Free Report).
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Russell 2000 & 3000 Maybe Hold Forever Stocks (MHFS) featured high (>4%) dividends, attractive or neutral ratings, >2-year dividend history, and positive cash flow per YCharts stock screener. The resulting list targets investors who “want to simply focus on profitable stocks without the fuss and bother of anything but an annual review and rebalance." 38 MHFS, from the Russell 2000/3000 2026 batch screened as of 7/6/26 represented all eleven Morningstar sectors. Broker estimated top-ten net gains ranged from 29.47% to 89.14%.
HOUSTON--(BUSINESS WIRE)--Murphy Oil Corporation (NYSE: MUR) will host a conference call and webcast at 9:00 a.m. Eastern Time (ET) on Thursday, August 6, 2026, to discuss second quarter 2026 earnings results. The company plans to release its financial and operating results after market close on Wednesday, August 5, 2026. A webcast link and accompanying presentation material will be posted to the Investor Relations section of the company's website at http://ir.murphyoilcorp.com. Date: Thursday,.
SummaryMurphy Oil announced a significant Côte d’Ivoire offshore discovery.MUR will drill an appraisal well before year-end.Higher-than-expected cash flow is enabling an increased capital budget, with immediate allocation to appraise the new discovery.The discovery, while not supermajor-scale, offers MUR unique growth opportunities with less competition and manageable project size.The discovery well marks a turnaround in its higher-risk exploration efforts. It is a totally reorganized process that management is likely watching closely.This idea was discussed in more depth with members of my private investing community, Oil & Gas Value Research. Learn More »Sitewide Sale 2026: Get 20% Off SparshFoto/iStock via Getty Images
Murphy Oil (MUR) announced a Côte d’Ivoire oil discovery offshore on one of its blocks. In addition to the discovery announcement, the presentation at the J.P. Morgan Natural Resources Conference revealed that the
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Analyst’s Disclosure: I/we have a beneficial long position in the shares of MUR either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Disclaimer: I am not an investment advisor and this is not a recommendation to buy or sell a security. Investors are recommended to read all of the company's filings and press releases as well as do their own research to determine if the company fits their own investment objectives and risk portfolios.
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
Key Takeaways Murphy Oil found 100 feet of net oil pay at Bubale-1X in Block CI-709 off Cote d'Ivoire.The company plans another well in late 2026 to assess the discovery's size and production potential.Murphy Oil forecasts 2026 output of 167,000-175,000 barrels of oil equivalent per day. Murphy Oil Corporation (MUR - Free Report) announced a significant oil discovery at the Bubale-1X exploration well in Block CI-709, situated about 40 miles offshore from Cote d'Ivoire. The well was drilled to a total depth of 20,548 feet, including water depths of 7,795 feet.
Murphy Oil’s unit, Murphy CI-709 Oil Co. Ltd., is the operator of Block CI-709 and holds a 90% working interest, while Cote d'Ivoire's national oil company, PETROCI, owns the remaining 10%.
As per the preliminary results, the well encountered 100 feet of net oil pay across two reservoirs, with initial assessments indicating the presence of high-quality light oil. The company plans to drill another well in the second half of 2026 to evaluate the extent of the discovery and better understand the reservoir's size and production potential.
Murphy Oil is active in exploration activities, and its 2026 exploration expenses are pegged in the range of $220-$300 million. Systematic investment in exploration allows the company to make new discoveries like this one and replenish the production volumes. In 2025, Murphy Oil’s total reserve replacement, excluding the NCI, was 103%.
New Discovery to Boost Growth Prospect for Murphy Oil Undoubtedly, this significant volume of light oil discovery will boost Murphy Oil’s existing proved reserve base, which stood at 730 million barrels of oil equivalents (MMBOE) at the end of 2025, consisting of 59% natural gas and 41% liquids.
Light crude is generally easier to refine and typically fetches premium prices compared to heavy crude oil, making the finding encouraging from a commercial perspective. This development marks another step forward in the company’s efforts to expand its reserve base, strengthen its long-term production profile and help the company generate more value for shareholders over time.
Murphy Oil advanced its exploration program in the first half of 2026 through appraisal drilling in Vietnam and portfolio expansion in Morocco and the Gulf of America. The company forecasts total production of 167,000-175,000 barrels of oil equivalent per day in 2026.
Focus on Oil Demand in the Upcoming YearAccording to the Organization of the Petroleum Exporting Countries, global oil demand is projected to rise to 107.86 million barrels per day (mb/d) in 2027 from an estimated 106.52 mb/d in 2026. Apart from Murphy Oil, some other companies have made important discoveries and moved forward with major offshore projects.
On April 9, 2026, Occidental Petroleum Corporation (OXY - Free Report) and Chevron Corporation (CVX - Free Report) reported an oil discovery at the Bandit prospect in the Gulf of America. The well, operated by OXY and situated in Green Canyon Block 680, roughly 125 miles from Louisiana, encountered premium-quality oil-bearing Miocene sands. OXY holds a 45.375% working interest in Bandit, whereas Chevron holds a 37.125% stake.
On Feb. 12, 2026, BP p.l.c. (BP - Free Report) reported an oil discovery at the Algaita-01 exploration well in offshore Angola. The well is located in Block 15/06, operated by Azule Energy, a 50:50 joint venture between BP and Eni.
Share Price Movement of MURIn the past year, shares of the company have risen 57.0% compared with the industry’s 1.3% growth.
HOUSTON--(BUSINESS WIRE)--Murphy Oil Corporation (NYSE: MUR) today announced an oil discovery at the Bubale-1X exploration well in Block CI-709, located approximately 40 miles offshore Côte d’Ivoire.
The Bubale-1X well was drilled to a total depth of 20,548 feet (6,263 meters) in 7,795 feet (2,376 meters) of water. The well encountered 100 feet (30 meters) of net oil pay across two reservoirs, with preliminary assessment indicating high-quality light oil.
“Early results at Bubale reinforce the prospectivity of our Côte d’Ivoire acreage,” said Eric Hambly, President and Chief Executive Officer. “We are pleased with the results to date, which underscore the value of a disciplined and consistent exploration approach. Our immediate focus now is advancing evaluation plans to define the discovery’s full potential.”
The Bubale-1X well is the third and final well in Murphy’s current three-well exploration campaign in Côte d’Ivoire. Following these results, Murphy will move into the next phase of evaluation, with one well planned for the second half of 2026 to test the extent of the discovery.
The Bubale-1X well was spud in late February 2026 by Murphy CI-709 Oil Co., Ltd., a subsidiary of Murphy Oil Corporation and operator of Block CI-709. Murphy holds a 90 percent working interest in the block, with Société Nationale d’Opérations Pétrolières de la Côte d’Ivoire (PETROCI) holding the remaining 10 percent.
ABOUT MURPHY OIL CORPORATION
Murphy Oil Corporation is an independent oil and natural gas company with a multi-basin onshore and offshore portfolio and significant exploration opportunities. The company has more than a century-long history of demonstrating strong execution and innovative, full-cycle development capabilities with a focus on value creation that drives shareholder returns. Murphy’s foresight and financial discipline, along with its culture of adaptability and accountability, will allow the company to continue its outstanding legacy and exceptional reputation. The company’s current operations include extensive inventory located onshore in the Eagle Ford Shale, Tupper Montney and Kaybob Duvernay, as well as offshore in the Gulf of America and Canada. Murphy also strives to create long-term shareholder value through offshore exploration and development in the Gulf of America, Vietnam and Côte d’Ivoire. Additional information can be found on the company’s website at www.murphyoilcorp.com.
FORWARD-LOOKING STATEMENTS
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are generally identified through the inclusion of words such as “aim”, “anticipate”, “believe”, “drive”, “estimate”, “expect”, “forecast”, “future”, “goal”, “guidance”, “intend”, “may”, “objective”, “outlook”, “plan”, “position”, “potential”, “project”, “seek”, “should”, “strategy”, “target”, “will” or variations of such words and other similar expressions. These statements, which express management’s current views concerning future events, results and plans, are subject to inherent risks, uncertainties and assumptions (many of which are beyond our control) and are not guarantees of performance. In particular, statements, express or implied, concerning the company’s future operating results or activities and returns or the company's ability and intent to replace or increase reserves, increase production, generate returns and rates of return, replace or increase drilling locations, reduce or otherwise control operating costs and expenditures, generate cash flows, pay down or refinance indebtedness, achieve, reach or otherwise meet initiatives, plans, goals, ambitions or targets with respect to emissions, safety matters or other environmental, social and governance matters, make capital expenditures, pay and/or increase dividends or make share repurchases and other capital allocation decisions are forward-looking statements. Factors that could cause one or more of these future events, results or plans not to occur as implied by any forward-looking statement, which consequently could cause actual results or activities to differ materially from the expectations expressed or implied by such forward-looking statements, include, but are not limited to: macro conditions in the oil and natural gas industry, including supply and demand levels, actions taken by major oil exporters and the resulting impacts on commodity prices; geopolitical concerns; increased volatility or deterioration in the success rate of our exploration programs or in our ability to maintain production rates and replace reserves; reduced customer demand for our products due to environmental, regulatory, technological or other reasons; adverse foreign exchange movements; political and regulatory instability in the markets where we do business; the impact on our operations or markets of health pandemics and related government responses; natural hazards impacting our operations or markets; any other deterioration in our business, markets or prospects; cyber attacks and other cybersecurity risks; any failure to obtain necessary regulatory approvals; the impact of current and future laws, rulings and governmental regulations; any inability to service or refinance our outstanding debt or to access debt markets at acceptable prices; or adverse developments in the U.S. or global capital markets, credit markets, banking system or economies in general, including inflation, trade policies, tariffs and other trade restrictions. For further discussion of factors that could cause one or more of these future events or results not to occur as implied by any forward-looking statement, see “Risk Factors” in our most recent Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission (“SEC”) and any subsequent Quarterly Report on Form 10-Q or Current Report on Form 8-K that we file, available from the SEC’s website and from Murphy Oil Corporation’s website at http://ir.murphyoilcorp.com. Investors and others should note that we may announce material information using SEC filings, press releases, public conference calls, webcasts and the investors page of our website. We may use these channels to distribute material information about the company; therefore, we encourage investors, the media, business partners and others interested in the company to review the information we post on our website. The information on our website is not part of, and is not incorporated into, this news release. Each forward-looking statement contained in this news release speaks only as of the date of this news release. Except as required by applicable law, Murphy Oil Corporation undertakes no duty to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
HOUSTON--(BUSINESS WIRE)--Murphy Oil Corporation (NYSE: MUR) today announced that Eric M. Hambly, President and Chief Executive Officer, will present at the J.P. Morgan 2026 Natural Resources Conference on Tuesday, June 23, 2026 at 3:00 p.m. Eastern Time (ET).
The live audio webcast will be available on the company’s website at http://ir.murphyoilcorp.com. A replay will be available for 30 days following the event.
ABOUT MURPHY OIL CORPORATION
Murphy Oil Corporation is an independent oil and natural gas company with a multi-basin onshore and offshore portfolio and significant exploration opportunities. The company has more than a century-long history of demonstrating strong execution and innovative, full-cycle development capabilities with a focus on value creation that drives shareholder returns. Murphy’s foresight and financial discipline, along with its culture of adaptability and accountability, will allow the company to continue its outstanding legacy and exceptional reputation. The company’s current operations include extensive inventory located onshore in the Eagle Ford Shale, Tupper Montney and Kaybob Duvernay, as well as offshore in the Gulf of America and Canada. Murphy also strives to create long-term shareholder value through offshore exploration and development in the Gulf of America, Vietnam and Côte d’Ivoire. Additional information can be found on the company’s website at www.murphyoilcorp.com.
Murphy Oil (MUR - Free Report) appears an attractive pick given a noticeable improvement in the company's earnings outlook. The stock has been a strong performer lately, and the momentum might continue with analysts still raising their earnings estimates for the company.
The rising trend in estimate revisions, which is a result of growing analyst optimism on the earnings prospects of this oil and gas producer, should get reflected in its stock price. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements. Our stock rating tool -- the Zacks Rank -- has this insight at its core.
The five-grade Zacks Rank system, which ranges from a Zacks Rank #1 (Strong Buy) to a Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record of outperformance, with Zacks #1 Ranked stocks generating an average annual return of +25% since 2008.
Consensus earnings estimates for the next quarter and full year have moved considerably higher for Murphy Oil, as there has been strong agreement among the covering analysts in raising estimates.
The chart below shows the evolution of forward 12-month Zacks Consensus EPS estimate:
12 Month EPS
Current-Quarter Estimate RevisionsThe company is expected to earn $0.20 per share for the current quarter, which represents a year-over-year change of -64.3%.
Over the last 30 days, the Zacks Consensus Estimate for Murphy Oil has increased 249.37% because four estimates have moved higher while one has gone lower.
Current-Year Estimate RevisionsFor the full year, the earnings estimate of $2.27 per share represents a change of +65.7% from the year-ago number.
The revisions trend for the current year also appears quite promising for Murphy Oil, with five estimates moving higher over the past month compared to no negative revisions. The consensus estimate has also received a boost over this time frame, increasing 264.66%.
Favorable Zacks RankOur research shows that stocks with Zacks Rank #1 (Strong Buy) and 2 (Buy) significantly outperform the S&P 500.
Bottom LineMurphy Oil shares have added 8.9% over the past four weeks, suggesting that investors are betting on its impressive estimate revisions. So, you may consider adding it to your portfolio right away to benefit from its earnings growth prospects.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Murphy Oil (MUR - Free Report) is expected to deliver a year-over-year decline in earnings on higher revenues when it reports results for the quarter ended March 2026. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.
The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on May 6. On the other hand, if they miss, the stock may move lower.
While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise.
Zacks Consensus EstimateThis oil and gas producer is expected to post quarterly earnings of $0.21 per share in its upcoming report, which represents a year-over-year change of -62.5%.
Revenues are expected to be $684.55 million, up 2.8% from the year-ago quarter.
Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 42.44% higher over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.
Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts.
Price, Consensus and EPS Surprise
Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core.
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.
A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.
Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).
How Have the Numbers Shaped Up for Murphy Oil?For Murphy Oil, the Most Accurate Estimate is the same as the Zacks Consensus Estimate, suggesting that there are no recent analyst views which differ from what have been considered to derive the consensus estimate. This has resulted in an Earnings ESP of 0%.
On the other hand, the stock currently carries a Zacks Rank of #2.
So, this combination makes it difficult to conclusively predict that Murphy Oil will beat the consensus EPS estimate.
Does Earnings Surprise History Hold Any Clue?Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.
For the last reported quarter, it was expected that Murphy Oil would post a loss of$0.08 per share when it actually produced earnings of $0.14, delivering a surprise of +275.00%.
Over the last four quarters, the company has beaten consensus EPS estimates four times.
Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.
That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
Murphy Oil doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.
An Industry Player's Expected ResultsAnother stock from the Zacks Oil and Gas - Exploration and Production - United States industry, Devon Energy (DVN - Free Report) , is soon expected to post earnings of $0.97 per share for the quarter ended March 2026. This estimate indicates a year-over-year change of -19.8%. Revenues for the quarter are expected to be $4.14 billion, down 6.9% from the year-ago quarter.
The consensus EPS estimate for Devon Energy has been revised 8.4% higher over the last 30 days to the current level. However, a higher Most Accurate Estimate has resulted in an Earnings ESP of +7.97%.
When combined with a Zacks Rank of #1 (Strong Buy), this Earnings ESP indicates that Devon Energy will most likely beat the consensus EPS estimate. Over the last four quarters, the company surpassed consensus EPS estimates three times.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Key Takeaways Estimate for MUR's Q1 revenues is pinned at $688.6M (down 3.44% y/y) and EPS at 29 cents (down 48.21%).MUR targets 164k-172k Boep/d, including ~93.4k from Gulf of America and Eagle Ford.MUR's shares up 58.5% in six months, topping industry growth of 38.5%. Murphy Oil Corporation (MUR - Free Report) is expected to report a year-over-year decline in both top and bottom lines when it reports first-quarter 2026 results on May 6, after market close.
The Zacks Consensus Estimate for revenues is pinned at $688.6 million, indicating a decline of 3.44% from the year-ago reported figure. The consensus mark for earnings is pegged at 29 cents per share, indicating a year-over-year decline of 48.21%. The bottom-line estimate has gone up 514.29% over the past 60 days.
Image Source: Zacks Investment Research
What the Zacks Model UnveilsOur model does not predict an earnings beat for MUR this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. That is exactly the case here, as you can see below.
You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.
Earnings ESP: MUR has an Earnings ESP of +12.04%.
Zacks Rank: Murphy Oil currently holds a Zacks Rank #2.
Earnings Surprise by Others This SeasonSome stocks from the same sector that have the combination of factors indicating an earnings beat are BKV Corporation (BKV - Free Report) , Calumet Inc. (CLMT - Free Report) and Pedevco (PED - Free Report) . BKV carries a Zacks Rank #3, while CLMT and PED have a Zacks Rank #2 each. BKV, CLMT and PED currently have an Earnings ESP of +25%, +3.51% and +23.58%, respectively. You can see the complete list of today’s Zacks #1 Rank stocks here.
Major Drivers Behind MUR’s Q1 Earnings Performance
Murphy Oil’s first-quarter total production is expected to be in the range of 164,000-172,000 barrels of oil equivalents per day (Boep/d). Nearly 93,400 Boep/d will come from Murphy Oil’s domestic operation in the Gulf of America and Eagle Ford shale. The first-quarter production guidance takes into consideration the downtime in the Gulf of America due to planned facility maintenance and maintenance of some onshore assets.
The company is expected to have benefited from the increase in commodity prices, resulting from the Middle East crisis. The company has also been reducing its operating expenses, which can also have a positive impact on first-quarter earnings.
Murphy Oil planned to bring 15 wells online in the Eagle Ford Shale, which are expected to have an impact on first-quarter earnings.
MUR’s Price PerformanceMUR’s shares have gained 58.5% in the past six months compared with the industry’s growth of 38.5%.
HOUSTON--(BUSINESS WIRE)--Murphy Oil Corporation (NYSE: MUR) today announced its financial and operating results for the first quarter ended March 31, 2026. As a supplement to this release, Murphy has also furnished a Quarterly Stockholder Update. Unless otherwise noted, the financial and operating highlights and metrics discussed in this commentary exclude noncontrolling interest (NCI).† (Millions of dollars, except volumes and per share amounts) Three months ended March 31, 2026 Net income at.
HOUSTON--(BUSINESS WIRE)--This letter serves as a supplement to our earnings release for the first quarter of 2026. Please see the information regarding forward-looking statements and non-GAAP financial information1 included at the end of this letter. Unless otherwise noted, the financial and operating highlights and metrics discussed in this letter exclude noncontrolling interest (NCI)2. Murphy Oil Corporation Stockholders, The first quarter of 2026 unfolded against one of the most volatile ma.
Murphy Oil (MUR - Free Report) came out with quarterly earnings of $0.32 per share, beating the Zacks Consensus Estimate of $0.29 per share. This compares to earnings of $0.56 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +9.10%. A quarter ago, it was expected that this oil and gas producer would post a loss of $0.08 per share when it actually produced earnings of $0.14, delivering a surprise of +275%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
Murphy Oil, which belongs to the Zacks Oil and Gas - Exploration and Production - United States industry, posted revenues of $733.55 million for the quarter ended March 2026, surpassing the Zacks Consensus Estimate by 6.53%. This compares to year-ago revenues of $665.71 million. The company has topped consensus revenue estimates four times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Murphy Oil shares have added about 33.3% since the beginning of the year versus the S&P 500's gain of 6%.
What's Next for Murphy Oil?While Murphy Oil has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Murphy Oil was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.99 on $735.89 million in revenues for the coming quarter and $3.38 on $2.93 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Oil and Gas - Exploration and Production - United States is currently in the top 4% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Venture Global (VG - Free Report) , another stock in the same industry, has yet to report results for the quarter ended March 2026. The results are expected to be released on May 12.
This exporter of liquid natural gas is expected to post quarterly earnings of $0.13 per share in its upcoming report, which represents a year-over-year change of -18.8%. The consensus EPS estimate for the quarter has been revised 16.1% lower over the last 30 days to the current level.
Venture Global's revenues are expected to be $4.17 billion, up 44.2% from the year-ago quarter.
Murphy Oil (MUR - Free Report) reported $733.55 million in revenue for the quarter ended March 2026, representing a year-over-year increase of 10.2%. EPS of $0.32 for the same period compares to $0.56 a year ago.
The reported revenue represents a surprise of +6.53% over the Zacks Consensus Estimate of $688.59 million. With the consensus EPS estimate being $0.29, the EPS surprise was +9.1%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Murphy Oil performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Production - Net crude oil and condensate - Barrels per day - Total: 92.5 thousands of barrels of oil per day versus the six-analyst average estimate of 85.85 thousands of barrels of oil per day.Production - Net natural gas liquids - Barrels per day - Total: 10.68 thousands of barrels of oil per day compared to the 10.25 thousands of barrels of oil per day average estimate based on five analysts.Production - Net natural gas - including NCI - cubic feet per day - Total: 461.24 millions of cubic feet per day versus the five-analyst average estimate of 449.79 millions of cubic feet per day.Total net hydrocarbons - excluding NCI: 174.24 KBOE/D versus 170.76 KBOE/D estimated by five analysts on average.Production - Net natural gas - including NCI - cubic feet per day - Onshore - United States: 33.08 millions of cubic feet per day versus 29.78 millions of cubic feet per day estimated by three analysts on average.Revenues- Exploration and production- Canada: $155.2 million versus $182.8 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -6.3% change.Revenues- Exploration and production- United States: $575.5 million compared to the $521.18 million average estimate based on three analysts. The reported number represents a change of +13% year over year.Net natural gas revenue- Total: $119.97 million versus the three-analyst average estimate of $123.95 million. The reported number represents a year-over-year change of +17.4%.Revenues and other income- Revenue from sales to customers- Revenue from production: $732.35 million compared to the $707.94 million average estimate based on three analysts. The reported number represents a change of +8.9% year over year.Revenues and other income- Revenue from sales to customers- Total: $732.35 million compared to the $705.52 million average estimate based on three analysts. The reported number represents a change of +8.9% year over year.Net natural gas liquids revenue- Total: $16.96 million versus $19.98 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -13% change.Net crude oil and condensate revenue- Total: $595.43 million versus the two-analyst average estimate of $565.1 million. The reported number represents a year-over-year change of +8.1%.View all Key Company Metrics for Murphy Oil here>>>
Shares of Murphy Oil have returned -2.5% over the past month versus the Zacks S&P 500 composite's +10.3% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
Murphy Oil is allocating more capital to exploration. MUR's Vietnam program stands out for lower risk and significant reserve additions. Production in Côte d'Ivoire remains on hold pending a favorable pricing agreement.
Aflac (NYSE:AFL) Major Shareholder Post Holdings Co. Ltd. Japan Sells 26,500 SharesMarketBeat
Aflac Incorporated (NYSE:AFL - Get Free Report) major shareholder Post Holdings Co. Ltd. Japan sold 26,500 shares of the firm's stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $117.00, for a total value of $3,100,500.00. Following the completion of the sale, the insider owned 51,116,235 shares of the company's stock, valued at approximately $5,980,599,495. This represents a 0.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Major shareholders that own more than 10% of a company's stock are required to disclose their transactions with the SEC.
The proven Zacks Rank system focuses on earnings estimates and estimate revisions to find winning stocks. Nevertheless, we know that our readers all have their own perspectives, so we are always looking at the latest trends in value, growth, and momentum to find strong picks.
Of these, perhaps no stock market trend is more popular than value investing, which is a strategy that has proven to be successful in all sorts of market environments. Value investors use a variety of methods, including tried-and-true valuation metrics, to find these stocks.
Luckily, Zacks has developed its own Style Scores system in an effort to find stocks with specific traits. Value investors will be interested in the system's "Value" category. Stocks with both "A" grades in the Value category and high Zacks Ranks are among the strongest value stocks on the market right now.
One stock to keep an eye on is Murphy Oil (MUR - Free Report) . MUR is currently sporting a Zacks Rank #2 (Buy), as well as a Value grade of A.
Value investors also frequently use the P/S ratio. This metric is found by dividing a stock's price with the company's revenue. This is a popular metric because sales are harder to manipulate on an income statement, so they are often considered a better performance indicator. MUR has a P/S ratio of 1.94. This compares to its industry's average P/S of 1.95.
Finally, investors should note that MUR has a P/CF ratio of 3.21. This metric takes into account a company's operating cash flow and can be used to find stocks that are undervalued based on their solid cash outlook. This company's current P/CF looks solid when compared to its industry's average P/CF of 4.90. MUR's P/CF has been as high as 4.03 and as low as 2.28, with a median of 3.13, all within the past year.
Ring Energy (REI - Free Report) may be another strong Oil and Gas - Exploration and Production - United States stock to add to your shortlist. REI is a Zacks Rank of #2 (Buy) stock with a Value grade of A.
Ring Energy also has a P/B ratio of 0.23 compared to its industry's price-to-book ratio of 2.98. Over the past year, its P/B ratio has been as high as 0.42, as low as 0.17, with a median of 0.27.
These figures are just a handful of the metrics value investors tend to look at, but they help show that Murphy Oil and Ring Energy are likely being undervalued right now. Considering this, as well as the strength of its earnings outlook, MUR and REI feels like a great value stock at the moment.
Investors might want to bet on Murphy Oil (MUR - Free Report) , as earnings estimates for this company have been showing solid improvement lately. The stock has already gained solid short-term price momentum, and this trend might continue with its still improving earnings outlook.
The rising trend in estimate revisions, which is a result of growing analyst optimism on the earnings prospects of this oil and gas producer, should get reflected in its stock price. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements. This insight is at the core of our stock rating tool -- the Zacks Rank.
The five-grade Zacks Rank system, which ranges from a Zacks Rank #1 (Strong Buy) to a Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record of outperformance, with Zacks #1 Ranked stocks generating an average annual return of +25% since 2008.
For Murphy Oil, strong agreement among the covering analysts in revising earnings estimates upward has resulted in meaningful improvement in consensus estimates for the next quarter and full year.
The chart below shows the evolution of forward 12-month Zacks Consensus EPS estimate:
12 Month EPS
Current-Quarter Estimate RevisionsFor the current quarter, the company is expected to earn $1.03 per share, which is a change of +281.5% from the year-ago reported number.
Over the last 30 days, the Zacks Consensus Estimate for Murphy Oil has increased 6.31% because two estimates have moved higher while two have gone lower.
Current-Year Estimate RevisionsFor the full year, the company is expected to earn $3.38 per share, representing a year-over-year change of +146.7%.
In terms of estimate revisions, the trend for the current year also appears quite encouraging for Murphy Oil. Over the past month, two estimates have moved higher compared to three negative revisions, helping the consensus estimate increase 29.56%.
Favorable Zacks RankOur research shows that stocks with Zacks Rank #1 (Strong Buy) and 2 (Buy) significantly outperform the S&P 500.
Bottom LineWhile strong estimate revisions for Murphy Oil have attracted decent investments and pushed the stock 10.2% higher over the past four weeks, further upside may still be left in the stock. So, you may consider adding it to your portfolio right away.
Momentum investing is all about the idea of following a stock's recent trend, which can be in either direction. In the "long context," investors will essentially be "buying high, but hoping to sell even higher." And for investors following this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving in that direction. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.
Even though momentum is a popular stock characteristic, it can be tough to define. Debate surrounding which are the best and worst metrics to focus on is lengthy, but the Zacks Momentum Style Score, part of the Zacks Style Scores, helps address this issue for us.
Below, we take a look at Murphy Oil (MUR - Free Report) , a company that currently holds a Momentum Style Score of B. We also talk about price change and earnings estimate revisions, two of the main aspects of the Momentum Style Score.
It's also important to note that Style Scores work as a complement to the Zacks Rank, our stock rating system that has an impressive track record of outperformance. Murphy Oil currently has a Zacks Rank of #2 (Buy). Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of "A or B" outperform the market over the following one-month period.
You can see the current list of Zacks #1 Rank Stocks here >>>
Set to Beat the Market? In order to see if MUR is a promising momentum pick, let's examine some Momentum Style elements to see if this oil and gas producer holds up.
A good momentum benchmark for a stock is to look at its short-term price activity, as this can reflect both current interest and if buyers or sellers currently have the upper hand. It's also helpful to compare a security to its industry; this can show investors the best companies in a particular area.
For MUR, shares are up 9.9% over the past week while the Zacks Oil and Gas - Exploration and Production - United States industry is up 2.68% over the same time period. Shares are looking quite well from a longer time frame too, as the monthly price change of 9% compares favorably with the industry's 2.63% performance as well.
Considering longer term price metrics, like performance over the last three months or year, can be advantageous as well. Shares of Murphy Oil have increased 22.62% over the past quarter, and have gained 87.05% in the last year. In comparison, the S&P 500 has only moved 7.88% and 25.61%, respectively.
Investors should also pay attention to MUR's average 20-day trading volume. Volume is a useful item in many ways, and the 20-day average establishes a good price-to-volume baseline; a rising stock with above average volume is generally a bullish sign, whereas a declining stock on above average volume is typically bearish. MUR is currently averaging 1,658,432 shares for the last 20 days.
Earnings OutlookThe Zacks Momentum Style Score also takes into account trends in estimate revisions, in addition to price changes. Please note that estimate revision trends remain at the core of Zacks Rank as well. A nice path here can help show promise, and we have recently been seeing that with MUR.
Over the past two months, 7 earnings estimates moved higher compared to none lower for the full year. These revisions helped boost MUR's consensus estimate, increasing from $0.62 to $3.38 in the past 60 days. Looking at the next fiscal year, 7 estimates have moved upwards while there have been no downward revisions in the same time period.
Bottom LineGiven these factors, it shouldn't be surprising that MUR is a #2 (Buy) stock and boasts a Momentum Score of B. If you're looking for a fresh pick that's set to soar in the near-term, make sure to keep Murphy Oil on your short list.
On May 20, 2026, Murphy Oil Corp MUR shares fell 3.4% today to a current price of $38.98. Over the past 52 weeks, the stock has fluctuated between a low of $20.31 and a high of $43.34, showcasing significant volatility.
GF Value™ verdict: Current price is $38.98, compared to a GF Value™ of $32.41, indicating the stock is 20.3% overvalued.GF Score™ of 62/100 suggests an above-average potential for long-term returns.Notable signal: Insiders sold $1.9 million in the last three months, with no buying activity reported. Is MUR Overvalued or Undervalued? Murphy Oil Corp is currently trading at $38.98, which is significantly above its GF Value™ of $32.41. This indicates that the stock is overvalued by approximately 20.3%. The GF Valuation label classifies the stock as modestly overvalued, reflecting a potential risk for investors. A margin of safety is crucial when considering investments, and the current overvaluation suggests that investors may not find adequate risk-adjusted returns at this price point.
GF Value™ is GuruFocus' proprietary measure of intrinsic value, calculated from historical trading multiples, past business growth, and future performance estimates. Given the current market conditions and the company's performance, investors may want to exercise caution and closely monitor market developments before making investment decisions.
How Does MUR's Valuation Compare to Its History? Metric Current Historical P/E (TTM) 66.1x 9.9x Forward P/E 11.3x N/A The current P/E (TTM) of 66.1x is considerably higher than its 5-year median P/E of 9.9x, indicating the stock is trading at a premium compared to its historical valuation. This analysis agrees with the GF Value™ verdict, reinforcing the view that Murphy Oil Corp is overvalued at its current price.
What Does MUR's GF Score™ Tell Us? Metric Rating GF Score™ 62 Financial Strength 5/10 Profitability 6/10 Growth 5/10 Valuation 5/10 Momentum 1/10 The GF Score™ of 62/100 reflects an above-average potential for long-term returns. However, the mixed ratings across different categories show areas of concern. The strongest aspect is profitability, rated 6/10, indicating reasonable returns. Conversely, the momentum rank of 1/10 suggests a lack of upward price movement, which might deter potential investors.
What Are Insiders Doing with MUR Stock? In the last three months, insiders at Murphy Oil Corp have sold $1.9 million worth of shares, with no purchasing activity reported. This trend of selling may indicate a lack of confidence among insiders in the company's future performance or valuation. The absence of insider buying could be a red flag for potential investors looking for signals of management confidence in the stock's outlook.
What This Means for Investors Based on the GF Value™ assessment, Murphy Oil Corp is currently overvalued. With a significant premium over its intrinsic value and concerning insider activity, potential investors may want to carefully consider their positions in the stock.
For the complete analysis, visit the Murphy Oil Corp MUR stock page. You can also explore the GF Value™ page for detailed valuation methodology, or use the GuruFocus Stock Screener to find similar opportunities.
Frequently Asked Questions What is MUR's GF Score™?
MUR has a GF Score™ of 62/100, indicating an above-average potential for long-term returns based on various fundamental metrics.
Is MUR overvalued or undervalued?
MUR is considered overvalued, with its current price of $38.98 exceeding its GF Value™ of $32.41 by 20.3%.
What is MUR's P/E ratio?
MUR's P/E (TTM) ratio is 66.1x, which is 565% above its 5-year median P/E of 9.9x, indicating it is trading at a significant premium compared to its historical valuation.
This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Murphy Oil Corporation is entering a phase of heightened Wall Street interest due to its Vietnam exploration program and upcoming production catalysts. The first Vietnam production, Lac Da Vang, is expected online in Q4, initially adding 10,000 BOED with the potential to scale to 30,000 BOED. MUR maintains a 100% exploration success rate in Vietnam, supporting a Strong Buy thesis with significant upside potential from ongoing discoveries.
On June 08, 2026, Murphy Oil Corp MUR shares rose 3.5% today, closing at $40.01. This increase comes after a positive trend, with the stock experiencing a 30.5% rise year-to-date and an impressive 85.8% increase over the past year. The shares have fluctuated between a 52-week high of $43.34 and a low of $21.86.
GF Value™ verdict indicates the stock is priced at $40.01, which is 21.3% above its fair value estimate of $32.98.GF Score™ of 63/100 suggests that Murphy Oil Corp is rated as Above Average based on key financial metrics.Notable insider activity shows that insiders have sold $1.6 million worth of stock in the last three months, indicating a lack of buying interest. Is MUR Overvalued or Undervalued? According to the GF Value™, Murphy Oil Corp is considered modestly overvalued, with a current price of $40.01 sitting 21.3% above its estimated fair value of $32.98. This suggests a significant margin of safety for potential investors, as the stock is not trading at a discount. The overvaluation carries a risk, particularly in a fluctuating market where energy prices can be volatile. GF Value™ is GuruFocus' proprietary measure of intrinsic value, calculated from historical trading multiples, past business growth, and future performance estimates.
The current valuation implies that investors may face challenges in realizing favorable returns if the stock returns to its fair value estimate. Moreover, with a GF Valuation label indicating modest overvaluation, caution is warranted for those considering entering a position at this price point.
How Does MUR's Valuation Compare to Its History? Metric Current Historical P/E (TTM) 67.8x 9.9x Forward P/E 10.1x N/A The current P/E ratio of 67.8x is significantly above its 5-year median P/E of 9.9x, reflecting a 582% increase. The forward P/E of 10.1x indicates expectations for improved earnings in the future. This P/E analysis aligns with the GF Value™ verdict of overvaluation, suggesting that the stock is trading at a premium compared to its historical valuation metrics.
What Does MUR's GF Score™ Tell Us? Metric Rating GF Score™ 63/100 Financial Strength 5/10 Profitability 6/10 Growth 5/10 Valuation 6/10 Momentum 1/10 The GF Score™ of 63/100 indicates that Murphy Oil Corp has an Above Average rating. The strongest aspect is its profitability rank of 6/10, suggesting decent profitability relative to other companies. However, the momentum rank is a notable weakness at 1/10, indicating poor recent performance compared to peers. Financial strength is rated 5/10, which reflects moderate stability, while growth and valuation ranks are also at 5/10, suggesting potential for improvement in those areas.
What Are Insiders Doing with MUR Stock? In the past three months, insiders at Murphy Oil Corp have sold a total of $1.6 million worth of shares, with no recorded purchases. This pattern of selling may suggest a lack of confidence in the stock’s future prospects or could be a personal decision unrelated to the company's performance. The absence of insider buying typically raises concerns for potential investors, as it may reflect sentiment about the stock's current valuation and future growth potential.
What This Means for Investors Based on the current analysis, Murphy Oil Corp MUR is deemed overvalued at a price of $40.01, which is significantly above the GF Value™ estimate of $32.98. Potential investors should exercise caution, given the stock's overvaluation and the selling activity among insiders.
For the complete analysis, visit the Murphy Oil Corp MUR stock page. You can also explore the GF Value™ page for detailed valuation methodology, or use the GuruFocus Stock Screener to find similar opportunities.
Frequently Asked Questions What is MUR's GF Score™?
MUR's GF Score™ is 63/100, indicating an Above Average rating based on key financial metrics. This suggests that the stock has the potential for higher long-term returns compared to lower-scoring stocks.
Is MUR overvalued or undervalued?
MUR is currently overvalued, with a GF Value™ estimate of $32.98 sitting 21.3% below the current price of $40.01. This indicates caution for potential investors.
What is MUR's P/E ratio?
MUR has a P/E (TTM) of 67.8x, which is significantly above its 5-year median P/E of 9.9x. This suggests that the stock is trading at a premium compared to its historical valuation levels.
This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].
