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MUR Murphy Oil

As an independent oil and natural gas exploration and production company, Murphy Oil Corporation believes in providing energy that empowers people by doing right always, staying with it and thinking beyond possible. Murphy challenges the norm, taps into its strong legacy and uses its foresight and financial discipline to deliver inspired energy solutions. The company sees a future where it is an industry leader who is positively impacting lives for the next 100 years and beyond.

Company profile

Ticker
MUR
Exchange
CEO
Roger Jenkins
Employees
Incorporated
Location
Fiscal year end
Former names
MURPHY OIL CORP /DE
SEC CIK
IRS number
710361522

MUR stock data

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Calendar

25 Feb 21
21 Apr 21
31 Dec 21
Quarter (USD)
Dec 20 Sep 20 Jun 20 Mar 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from Murphy Oil earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 310.61M 310.61M 310.61M 310.61M 310.61M 310.61M
Cash burn (monthly) (positive/no burn) (positive/no burn) 69.1M 129.08M 17.3M (positive/no burn)
Cash used (since last report) n/a n/a 255.9M 478.04M 64.08M n/a
Cash remaining n/a n/a 54.7M -167.44M 246.53M n/a
Runway (months of cash) n/a n/a 0.8 -1.3 14.2 n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
6 Apr 21 Eric M Hambly Common Stock Payment of exercise Dispose F No No 16.895 10,755 181.71K 59,778
6 Apr 21 Eric M Hambly Common Stock Option exercise Aquire M No No 0 27,330 0 70,533
6 Apr 21 Eric M Hambly RSU Common Stock Option exercise Dispose M No No 0 22,500 0 111,700
6 Apr 21 Thomas J Mireles Common Stock Payment of exercise Dispose F No No 16.895 9,560 161.52K 42,669
6 Apr 21 Thomas J Mireles Common Stock Option exercise Aquire M No No 0 24,293 0 52,229
6 Apr 21 Thomas J Mireles RSU Common Stock Option exercise Dispose M No No 0 20,000 0 60,700
31 Mar 21 Schmale Neal E Phantom Stock Common Stock Grant Aquire A No No 16.41 1,570 25.76K 32,633
31 Mar 21 T Jay Collins Phantom Stock Common Stock Grant Aquire A No No 16.41 1,646 27.01K 22,195
31 Mar 21 Deming Claiborne P Phantom Stock Common Stock Grant Aquire A No No 16.41 1,829 30.01K 39,241

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

74.6% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 260 271 -4.1%
Opened positions 40 43 -7.0%
Closed positions 51 27 +88.9%
Increased positions 71 76 -6.6%
Reduced positions 101 90 +12.2%
13F shares
Current Prev Q Change
Total value 1.39B 4.12B -66.3%
Total shares 114.62M 120.39M -4.8%
Total puts 553.32K 797.96K -30.7%
Total calls 2.05M 2.2M -6.8%
Total put/call ratio 0.3 0.4 -25.6%
Largest owners
Shares Value Change
FMR 20.71M $250.61M +1.5%
Vanguard 13.68M $165.55M -0.5%
BLK Blackrock 12.69M $153.57M -1.4%
Dimensional Fund Advisors 7.07M $85.58M -8.7%
STT State Street 7.05M $85.32M -4.3%
Hotchkis & Wiley Capital Management 5.17M $62.55M +0.5%
PZN Pzena Investment Management 3.22M $38.93M +14.5%
Arrowstreet Capital, Limited Partnership 2.5M $30.3M -10.1%
Citadel Advisors 2.02M $24.46M +1693.2%
BK Bank Of New York Mellon 1.85M $22.35M -23.5%
Largest transactions
Shares Bought/sold Change
Wedge Capital Management L L P 0 -3.61M EXIT
Citadel Advisors 2.02M +1.91M +1693.2%
MS Morgan Stanley 608.71K -1.9M -75.8%
Capital International Investors 0 -1.04M EXIT
D. E. Shaw & Co. 784.92K +784.92K NEW
Dimensional Fund Advisors 7.07M -670.98K -8.7%
BK Bank Of New York Mellon 1.85M -568.85K -23.5%
Two Sigma Investments 556.66K +556.66K NEW
Balyasny Asset Management 0 -530.26K EXIT
Deep Basin Capital 73.25K -437.28K -85.7%

Financial report summary

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Risks
  • Volatility in the global prices of crude oil, natural gas liquids and natural gas can significantly affect the Company’s operating results.
  • Murphy could face long-term challenges to the fossil fuels business model reducing demand and price for hydrocarbon fuels.
  • Low oil and natural gas prices may adversely affect the Company’s operations in several ways in the future.
  • Murphy’s commodity price risk management may limit the Company’s ability to fully benefit from potential future price increases for oil and natural gas.
  • Murphy operates in highly competitive environments which could adversely affect it in many ways, including its profitability, cash flows and its ability to grow.
  • Exploration drilling results can significantly affect the Company’s operating results.
  • If Murphy cannot replace its oil and natural gas reserves, it may not be able to sustain or grow its business.
  • Murphy’s proved reserves are based on the professional judgment of its engineers and may be subject to revision.
  • Murphy is sometimes reliant on joint venture partners for operating assets, and/or funding development projects and operations.
  • Murphy’s business is subject to operational hazards, physical security risks and risks normally associated with the exploration and production of oil and natural gas.
  • Murphy is subject to numerous environmental, health and safety laws and regulations, and such existing and any potential future laws and regulations may result in material liabilities and costs.
  • Capital financing may not always be available to fund Murphy’s activities; and interest rates could impact cash flows.
  • Murphy’s operations could be adversely affected by changes in foreign exchange rates.
  • The costs and funding requirements related to the Company’s retirement plans are affected by several factors.
  • Murphy has limited control over supply chain costs.
  • The Company is exposed to credit risks associated with (i) sales of certain of its products to customers, (ii) joint venture partners and (iii) other counterparties.
  • We face various risks related to health epidemics, pandemics and similar outbreaks, which may have material adverse effects on our business, financial position, results of operations and/or cash flows.
  • Murphy’s Information Technology environment may be exposed to cyber threats.
  • Murphy’s operations and earnings have been and will continue to be affected by domestic and worldwide political developments.
  • Murphy’s insurance may not be adequate to offset costs associated with certain events and there can be no assurance that insurance coverage will continue to be available in the future on terms that justify its purchase.
  • Lawsuits against Murphy and its subsidiaries could adversely affect its operating results.
Management Discussion
  • All amounts include amounts attributable to a noncontrolling interest in MP GOM (a subsidiary of Murphy Expro USA, operating and developing properties in the Gulf of Mexico) and exclude discontinued operations, unless otherwise noted.
  • Exploration and production (E&P) continuing operations recorded a loss of $1,134.9 million in 2020 compared to earnings of $460.6 million in 2019. The results for 2020 were unfavorably impacted by impairment charges and lower oil and natural gas liquid prices and volumes, partially offset by lower depreciation and accretion expenses, general and administrative (G&A) expenses, exploration expenses and taxes. See below for further details. Based on an evaluation of expected future cash flows from properties as of December 31, 2020, the Company did not have any other significant properties with carrying values that were impaired at that date. If quoted prices decline in future periods, the lower level of projected cash flows for properties could lead to future impairment charges being recorded. The Company cannot predict the amount or timing of impairment expenses that may be recorded in the future.
  • As a result of the COVID-19 pandemic and certain major global suppliers announcing crude oil supply increases in the first quarter of 2020, commodity prices were generally lower in 2020 vs 2019. Crude oil price realizations averaged $38.02 per barrel in the current year compared to $60.27 per barrel in 2019, a price decrease of 37% year over year.  U.S. natural gas realized price per thousand cubic feet (MCF) averaged $2.02 in the current year compared to $2.45 per MCF in 2019, a price decrease of 18% year over year. Canada natural gas realized price per MCF averaged U.S. $1.79 in the current year compared to U.S. $1.60 per MCF in 2019, a price increase of 12% year over year.  Oil and natural gas production costs, including associated production taxes, on a per-unit basis, were $9.81 in 2020 excluding TGP (2019: $9.66). The increase in production costs in 2020 is primarily attributable to costs associated with well workovers at Cascade and Dalmatian in the U.S. Gulf of Mexico (discussed below).
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