Murphy Oil Corporation (MUR) Releases Earnings Results, Beats Expectations By $0.02 EPS

Murphy Oil Corporation (MUR) reported quarterly earnings results on Wednesday, May-4-2016. The company said it had a profit of $-0.66 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.02. Analysts had a consensus of $-0.68. The company posted revenue of $430.30 million in the period, compared to analysts expectations of $412.97 million. The company’s revenue was down -53.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.02 EPS.

Many Wall Street Analysts have commented on Murphy Oil Corporation. Company shares were Reiterated by UBS on Apr 28, 2016 to “Neutral”, Firm has raised the Price Target to $ 36 from a previous price target of $19 .Company shares were Reiterated by Barclays on Apr 8, 2016 to “Equal Weight”, Firm has raised the Price Target to $ 27 from a previous price target of $23 .

Murphy Oil Corporation closed down -0.6 points or -1.68% at $35.14 with 49,08,909 shares getting traded on Monday. Post opening the session at $35.77, the shares hit an intraday low of $33.9 and an intraday high of $35.94 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

In a different news, on Feb 1, 2016, Caroline G Theus (director) sold 28,500 shares at $18.61 per share price. According to the SEC, on Aug 17, 2015, Walentin Mirosh (director) sold 400 shares at $32.26 per share price. On Aug 3, 2015, Roger W. Jenkins (CEO) purchased 15,000 shares at $32.36 per share price, according to the Form-4 filing with the securities and exchange commission.

Murphy Oil Corporation is an oil and gas exploration and production company. The Company’s exploration and production business explores for and produces crude oil natural gas and natural gas liquids across the world. This business maintains upstream operating offices in locations including Calgary Alberta and Kuala Lumpur Malaysia. The Company’s crude oil condensate and natural gas liquids production as of 2014 averaged 151647 barrels per day. The Company has operations in United States Canada Malaysia and all other countries including Australia Brunei Vietnam Suriname Cameroon and Equatorial Guinea among others. As of December 31 2014 total United States proved reserves were 204.9 million barrels of crude oil 29.1 million barrels of natural gas liquids and 226 billion cubic feet of natural gas. In Canada it owns an interest in three non-operated assets the Hibernia and Terra Nova fields offshore Newfoundland in the Jeanne d’Arc Basin and Syncrude Canada Ltd.

Murphy Oil Corporation

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