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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

6 May 21
3 Aug 21
31 Dec 21
Quarter (USD)
Mar 21 Dec 20 Sep 20 Jun 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) 230.87M 230.87M 230.87M 230.87M 230.87M 230.87M
Cash burn (monthly) 26.58M 14.74M 118.4M 109.07M (positive/no burn) (positive/no burn)
Cash used (since last report) 109.88M 60.94M 489.47M 450.9M n/a n/a
Cash remaining 120.99M 169.93M -258.6M -220.03M n/a n/a
Runway (months of cash) 4.6 11.5 -2.2 -2.0 n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
30 Jun 21 T Jay Collins Phantom Stock Common Stock Grant Aquire A No No 23.28 1,159 26.98K 23,471
30 Jun 21 Schmale Neal E Phantom Stock Common Stock Grant Aquire A No No 23.28 1,106 25.75K 33,911
30 Jun 21 Deming Claiborne P Phantom Stock Common Stock Grant Aquire A No No 23.28 1,288 29.98K 40,736
23 Jun 21 Walentin Mirosh Common Stock Sell Dispose S No No 25.4216 8,000 203.37K 41,625

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

74.8% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 266 261 +1.9%
Opened positions 38 41 -7.3%
Closed positions 33 51 -35.3%
Increased positions 78 71 +9.9%
Reduced positions 93 101 -7.9%
13F shares
Current Prev Q Change
Total value 1.89B 1.39B +36.6%
Total shares 115.46M 114.62M +0.7%
Total puts 875.7K 553.32K +58.3%
Total calls 1.12M 2.05M -45.5%
Total put/call ratio 0.8 0.3 +190.3%
Largest owners
Shares Value Change
FMR 21.59M $354.32M +4.2%
Vanguard 14.27M $234.14M +4.3%
BLK Blackrock 13.46M $220.9M +6.1%
STT State Street 9.16M $150.36M +29.9%
Dimensional Fund Advisors 7.2M $118.17M +1.8%
Hotchkis & Wiley Capital Management 4.85M $79.67M -6.1%
PZN Pzena Investment Management 3.19M $52.4M -0.8%
Poplar Forest Capital 1.96M $32.19M +18.1%
BK Bank Of New York Mellon 1.87M $30.69M +1.2%
Geode Capital Management 1.75M $28.7M -0.6%
Largest transactions
Shares Bought/sold Change
STT State Street 9.16M +2.11M +29.9%
Citadel Advisors 102.48K -1.92M -94.9%
Arrowstreet Capital, Limited Partnership 1.17M -1.33M -53.3%
DB Deutsche Bank AG - Registered Shares 103.26K -1.12M -91.6%
FMR 21.59M +880.02K +4.2%
BLK Blackrock 13.46M +769.79K +6.1%
Encompass Capital Advisors 703.12K +703.12K NEW
Vanguard 14.27M +586.67K +4.3%
Connor, Clark & Lunn Investment Management 0 -558.31K EXIT
Assenagon Asset Management 540.3K +540.3K NEW

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 amount attributable to a noncontrolling interest in MP GOM, unless otherwise noted.
  • United States E&P operations reported earnings of $119.0 million in the first three months of 2021 compared to a loss of $696.0 million in the first three months of 2020.  Results were $815 million favorable in the 2021 quarter compared to the 2020 period primarily due to no impairment charge (for the United States) in the current period (2020: $927.8 million). Further, the change year over year is driven by lower depreciation, depletion and amortization (DD&A: $97.9 million), lower lease operating expenses (LOE: $62.1 million) and lower transportation, gathering, and processing charges ($6.1 million), partially offset by higher income tax expense ($191.6 million), higher other operating expense ($67.2 million), lower revenues ($21.2 million), and higher G&A ($1.8 million). The impairment charge in the prior year was primarily the result of lower forecast future prices as of March 31, 2020, as a result of decreased oil demand and abundant oil supply at the time of the assessment. Lower DD&A is a result of the prior year impairment charge reducing the depreciable asset base. Lower revenues were primarily due to lower sales volumes in the U.S., following temporary operational issues at the Cascade & Chinook and Kodiak fields in the Gulf of Mexico (these operational issues are now resolved) and lower Eagle Ford Shale volumes following lower capital expenditures throughout 2020 and the effects of a winter storm. Lower lease operating expenses were primarily due to higher Gulf of Mexico workover costs in the prior year at the Cascade asset. Higher income tax expense is a result of pre-tax profits principally due to the recovering oil price and lower DD&A and LOE. Higher other operating expense is primarily due to a unfavorable mark to market revaluation on contingent consideration (as a result of higher commodity prices) from prior Gulf of Mexico (GOM) acquisitions ($14.9 million).
  • Canadian E&P operations reported a loss of $124.3 million in the first three months of 2021 compared to a loss of $6.9 million in the first three months quarter of 2020.  Results were $117.4 million unfavorable compared to the 2020 period primarily due to an impairment charge ($171.3 million) in the current period, partially offset by higher income tax benefit ($39.6 million), higher revenue ($14.3 million) and lower DD&A ($7.2 million). The impairment charge in the current year is due to the current status, including agreements with the partners, of operating and production plans at Terra Nova. The operator and joint venture partners continue to evaluate options that could support a long-term production plan for Terra Nova. Higher income tax benefit is a result of a pre-tax loss driven by the impairment charge. Higher revenues were primarily attributable to higher prices (oil and condensate, natural gas and NGLs) versus the prior year. Lower lease operating expenses and lower DD&A were a result of lower sales volume following reduced capital expenditures throughout 2020.
Content analysis
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H.S. sophomore Avg
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