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MUR posted adjusted EPS of 32 cents and revenues of $733.5M, both above consensus estimates.
Murphy Oil's Q1 output hit 174,200 BOE/D, beating guidance on Eagle Ford outperformance and Gulf uptime.
Murphy Oil benefited from an improvement in domestic crude oil and condensate natural gas prices.
Murphy Oil Corporation (MUR - Free Report) delivered first-quarter 2026 adjusted net earnings of 32 cents per share, outperforming the Zacks Consensus Estimate of 29 cents by 10.3%. However, the bottom line lagged the year-ago quarter’s earnings of 52 cents by 42.8%.
GAAP earnings were 37 cents per share compared with 51 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.
Revenues of Murphy Oil
Murphy Oil’s revenues were $733.5 million, which beat the Zacks Consensus Estimate of $689 million by 6.5%. Revenues were up 10.2% year over year.
Murphy Oil Corporation Price, Consensus and EPS Surprise
Murphy Oil produced 174,200 barrels of oil equivalent per day (BOE/D) in first-quarter 2026 (excluding non-controlling interest in GOM), exceeding the guided range of 164,000-172,000 BOE/D. The strong production volume was due to outperformance in the Eagle Ford Shale and strong uptime in the Gulf of America.
Total costs and expenses were $595.3 million, up 14.1% from $521.8 million in the year-ago quarter. The increase was primarily due to higher exploration expenses.
Interest expenses in the quarter were $28.98 million, up 23.2% compared with $23.52 million in the year-ago quarter.
The company is exploring new opportunities in the Gulf of America, Morocco, Côte d’lvoire and Vietnam, which will further strengthen its production volume and operations.
Murphy Oil increased its quarterly dividend rate by 8%, resulting in an annual dividend of $1.40 per share. The company distributed a total dividend worth $50 million in the first quarter. Murphy Oil also buys back shares and still has $550 million remaining under its share repurchase authorization.
MUR’s Realized Prices
Murphy Oil enjoyed the benefits of improved Crude oil, condensate and natural gas prices both in domestic and international operations. While the decline in natural gas liquids offset some of the gain. The U.S. Crude oil and condensate onshore improved 2.5% year over year to $73.44 per barrel, natural gas onshore improved 10.7% to $3.74 per thousand cubic feet, while natural gas liquids declined 24% to $17.60 per barrel.
Financial Condition of Murphy Oil
The company had cash and cash equivalents of $378.7 million as of March 31, 2026, compared with $377.2 million as of Dec. 31, 2025. It had $2.4 billion of liquidity as of March 31, 2026.
Long-term debt totaled $1.55 billion as of March 31, 2026, compared with $1.38 billion as of Dec. 31, 2025.
Net cash provided by continuing operational activities in first-quarter 2026 was $321.2 million compared with $300.7 million in first-quarter 2025.
MUR’s 2026 Guidance
MUR expects its second-quarter 2026 production, excluding NCI, to be in the range of 161,000-169,000 BOE/D. The company expects its exploration expenses to be in the band of $70-$110 million in second-quarter 2026.
Murphy Oil plans to invest in the band of $1.2-$1.3 billion in 2026.
MUR reiterated its 2026 production (excluding NCI) to be in the range of 167,000-175,000 BOE/D, with 50% expected to be oil.
Devon Energy Corp. (DVN - Free Report) reported first-quarter 2026 earnings per share (EPS) of $1.04, surpassing the Zacks Consensus Estimate of $1 by 4%. The metric was down 14% year over year.
Total revenues for the quarter were $3.80 billion, which lagged the Zacks Consensus Estimate of $4.16 billion by 8.5%. The top line decreased 14.5% from the year-ago quarter’s figure.
TotalEnergies SE (TTE - Free Report) reported first-quarter 2026 operating earnings of $2.45 (€2.10) per share, which surpassed the Zacks Consensus Estimate of $1.99 by 23.1%. The bottom line improved 34% from the year-ago figure of $1.83 (€1.74).
Total revenues for the first quarter were $49.51 billion, which increased from the year-ago reported figure of $47.9 billion by 3.36%. The metric beat the Zacks Consensus Estimate of $46.85 billion by 5.9%.
Occidental Petroleum Corporation (OXY - Free Report) reported first-quarter 2026 operating earnings of $1.06 per share, which beat the Zacks Consensus Estimate of 65 cents by 63.08%. The bottom line also increased 21.8% from 87 cents in the year-ago quarter.
The company reported revenues of $5.1 billion, which lagged the Zacks Consensus Estimate of $5.49 billion by 7.04%. The top line also dropped 25.3% from the prior-year quarter’s $6.84 billion.
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Murphy Q1 Earnings & Sales Beat Estimates on Improved Realized Prices
Key Takeaways
Murphy Oil Corporation (MUR - Free Report) delivered first-quarter 2026 adjusted net earnings of 32 cents per share, outperforming the Zacks Consensus Estimate of 29 cents by 10.3%. However, the bottom line lagged the year-ago quarter’s earnings of 52 cents by 42.8%.
GAAP earnings were 37 cents per share compared with 51 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.
Revenues of Murphy Oil
Murphy Oil’s revenues were $733.5 million, which beat the Zacks Consensus Estimate of $689 million by 6.5%. Revenues were up 10.2% year over year.
Murphy Oil Corporation Price, Consensus and EPS Surprise
Murphy Oil Corporation price-consensus-eps-surprise-chart | Murphy Oil Corporation Quote
Murphy Oil’s Operational Highlights
Murphy Oil produced 174,200 barrels of oil equivalent per day (BOE/D) in first-quarter 2026 (excluding non-controlling interest in GOM), exceeding the guided range of 164,000-172,000 BOE/D. The strong production volume was due to outperformance in the Eagle Ford Shale and strong uptime in the Gulf of America.
Total costs and expenses were $595.3 million, up 14.1% from $521.8 million in the year-ago quarter. The increase was primarily due to higher exploration expenses.
Interest expenses in the quarter were $28.98 million, up 23.2% compared with $23.52 million in the year-ago quarter.
The company is exploring new opportunities in the Gulf of America, Morocco, Côte d’lvoire and Vietnam, which will further strengthen its production volume and operations.
Murphy Oil increased its quarterly dividend rate by 8%, resulting in an annual dividend of $1.40 per share. The company distributed a total dividend worth $50 million in the first quarter. Murphy Oil also buys back shares and still has $550 million remaining under its share repurchase authorization.
MUR’s Realized Prices
Murphy Oil enjoyed the benefits of improved Crude oil, condensate and natural gas prices both in domestic and international operations. While the decline in natural gas liquids offset some of the gain. The U.S. Crude oil and condensate onshore improved 2.5% year over year to $73.44 per barrel, natural gas onshore improved 10.7% to $3.74 per thousand cubic feet, while natural gas liquids declined 24% to $17.60 per barrel.
Financial Condition of Murphy Oil
The company had cash and cash equivalents of $378.7 million as of March 31, 2026, compared with $377.2 million as of Dec. 31, 2025. It had $2.4 billion of liquidity as of March 31, 2026.
Long-term debt totaled $1.55 billion as of March 31, 2026, compared with $1.38 billion as of Dec. 31, 2025.
Net cash provided by continuing operational activities in first-quarter 2026 was $321.2 million compared with $300.7 million in first-quarter 2025.
MUR’s 2026 Guidance
MUR expects its second-quarter 2026 production, excluding NCI, to be in the range of 161,000-169,000 BOE/D. The company expects its exploration expenses to be in the band of $70-$110 million in second-quarter 2026.
Murphy Oil plans to invest in the band of $1.2-$1.3 billion in 2026.
MUR reiterated its 2026 production (excluding NCI) to be in the range of 167,000-175,000 BOE/D, with 50% expected to be oil.
Zacks Rank of Murphy Oil
Murphy Oil currently has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Upcoming Releases
Devon Energy Corp. (DVN - Free Report) reported first-quarter 2026 earnings per share (EPS) of $1.04, surpassing the Zacks Consensus Estimate of $1 by 4%. The metric was down 14% year over year.
Total revenues for the quarter were $3.80 billion, which lagged the Zacks Consensus Estimate of $4.16 billion by 8.5%. The top line decreased 14.5% from the year-ago quarter’s figure.
TotalEnergies SE (TTE - Free Report) reported first-quarter 2026 operating earnings of $2.45 (€2.10) per share, which surpassed the Zacks Consensus Estimate of $1.99 by 23.1%. The bottom line improved 34% from the year-ago figure of $1.83 (€1.74).
Total revenues for the first quarter were $49.51 billion, which increased from the year-ago reported figure of $47.9 billion by 3.36%. The metric beat the Zacks Consensus Estimate of $46.85 billion by 5.9%.
Occidental Petroleum Corporation (OXY - Free Report) reported first-quarter 2026 operating earnings of $1.06 per share, which beat the Zacks Consensus Estimate of 65 cents by 63.08%. The bottom line also increased 21.8% from 87 cents in the year-ago quarter.
The company reported revenues of $5.1 billion, which lagged the Zacks Consensus Estimate of $5.49 billion by 7.04%. The top line also dropped 25.3% from the prior-year quarter’s $6.84 billion.