Murphy Oil Stock Price, News & Analysis

The Board of Directors of Murphy Oil Corporation (NYSE: MUR) has declared a quarterly cash dividend of $0.25 per share, equating to an annualized rate of $1.00 per share. The dividend is scheduled for payment on December 1, 2022, to shareholders on record as of November 14, 2022. This decision reflects the company's ongoing commitment to delivering returns to its shareholders while maintaining financial discipline.

Murphy Oil Corporation (NYSE: MUR) will host a conference call and webcast on November 3, 2022, at 10:00 a.m. EDT to discuss its third quarter 2022 earnings. The company plans to release its financial results prior to the market opening on that day. Investors can access the webcast link and presentation materials on Murphy's website. The call will also feature a toll-free dial-in option.

Murphy Oil Corporation (NYSE: MUR) announced early tender results for its cash tender offers to purchase up to $200 million of certain outstanding senior notes. As of August 12, 2022, validly tendered notes exceeded the maximum aggregate cap. Consequently, 2025 Notes will be accepted on a pro rata basis with a proration factor of approximately 61.6%. The firm intends to fund these purchases with available cash on hand, and the early settlement date is set for August 16, 2022. Investors are advised to refer to the Offer to Purchase for complete terms.

Murphy Oil Corporation (NYSE: MUR) reported a strong second quarter 2022 with a net income of $351 million ($2.23 per diluted share) and adjusted net income of $305 million ($1.93 per diluted share). Production averaged 164 thousand barrels of oil equivalent per day, exceeding guidance, and the company raised its full-year production forecast to 168-176 MBOEPD. Murphy initiated a shareholder-friendly capital allocation framework, including a $300 million share repurchase program and a 100% increase in the quarterly dividend to $0.25 per share. The firm continues to focus on debt reduction, achieving significant improvements in its financial position.

The Board of Directors of Murphy Oil Corporation (NYSE: MUR) declared a quarterly cash dividend of $0.25 per share, marking a 43% increase from the previous quarter and a 100% increase year-over-year. The dividend will be paid on September 1, 2022, to stockholders of record as of August 15, 2022. This decision reflects the company's strong performance in the oil and gas sector and its commitment to returning value to shareholders.

Murphy Oil Corporation (NYSE: MUR) announced the initiation of tender offers to purchase certain outstanding senior notes for up to $200,000,000, excluding interest. The offers involve 5.750% Senior Notes due 2025, 6.375% Senior Notes due 2028, and 5.875% Senior Notes due 2027. The purpose is to reduce total debt and interest expense. The offers will expire on August 26, 2022, and valid tendering must occur by August 12, 2022. The company plans to utilize available cash for these purchases.

Murphy Oil Corporation (NYSE: MUR) will host a conference call and webcast on August 4, 2022, at 9:00 a.m. EDT to discuss its second quarter 2022 earnings. The company plans to release its financial and operational results before the market opens that day. Interested parties can find a webcast link and presentation materials on the company's Investors page. For inquiries, investors may contact Kelly Whitley at kelly_whitley@murphyoilcorp.com or Megan Larson at megan_larson@murphyoilcorp.com.

Murphy Oil Corporation (NYSE: MUR) announced the election of Paul D. Vaughan as Vice President and Controller, effective July 1, 2022, succeeding Christopher D. Hulse, who is leaving to pursue other opportunities. Vaughan has been with Murphy since 1998, most recently as Vice President and Controller for US, Central, and South America. Additionally, Leyster L. Jumawan was elected as Vice President, Corporate Planning and Treasurer, while John B. Gardner will now focus on supply chain responsibilities. All changes take effect on July 1, 2022, under the leadership of incoming CFO Tom Mireles.