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Murphy Oil Corp MUR

Rating as of

Morningstar’s Analysis

Valuation
Currency in USD

Economic Moat

PREMIUM

Capital Allocation

PREMIUM

Murphy’s First-Quarter Beat Supports Slight Increase to FVE

Analyst Note

| Dave Meats, CFA |

We have nudged our fair value estimate for Murphy to $18 per share from $17, after taking a second look at the firm's first-quarter financial and operating results. The slight increase reflects stronger-than-expected results, despite the deleterious impact of Winter Storm Uri. As we discussed in our first take published May 6, net production, excluding noncontrolling interests, was 155 mboe/d, exceeding the top end of the guidance range of 146-154 mboe/d. That drove the firm's financial results past Street estimates as well: adjusted EBITDA and adjusted earnings per share were $255 million and $0.06, respectively, trumping FactSet consensus estimates of $236 million and negative $0.16. 

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Company Profile

Business Description

Murphy Oil is an independent exploration and production company developing unconventional resources in the United States and Canada. At the end of 2020, the company reported net proven reserves of 715 million barrels of oil equivalent. Consolidated production averaged 174.5 thousand barrels of oil equivalent per day in 2020, at a ratio of 66% oil and natural gas liquids and 34% natural gas.

Contact
9805 Katy Freeway, Suite G-200
Houston, TX, 77024
T +1 281 675-9000
Sector Energy
Industry Oil & Gas E&P
Most Recent Earnings Mar 31, 2021
Fiscal Year End Dec 31, 2021
Stock Type Hard Assets
Employees 675

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