Murphy Oil (MUR)
Market Price (6/15/2026): $38.83 | Market Cap: $5.6 BilSector: Energy | Industry: Oil & Gas Exploration & Production
Murphy Oil (MUR)
Market Price (6/15/2026): $38.83Market Cap: $5.6 BilSector: EnergyIndustry: Oil & Gas Exploration & Production
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 46% Attractive yieldDividend Yield is 3.4% Low stock price volatilityVol 12M is 48% Megatrend and thematic driversMegatrends include US Energy Independence, and Global Energy Supply & Security. Themes include US Oilfield Technologies, and Offshore Oil & Gas Exploration & Production. | Weak multi-year price returns2Y Excs Rtn is -32%, 3Y Excs Rtn is -63% | Expensive valuation multiplesP/EPrice/Earnings or Price/(Net Income) is 66x Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -5.1%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -13% Key risksMUR key risks include [1] a deteriorating success rate in its exploration programs, Show more. |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 46% |
| Attractive yieldDividend Yield is 3.4% |
| Low stock price volatilityVol 12M is 48% |
| Megatrend and thematic driversMegatrends include US Energy Independence, and Global Energy Supply & Security. Themes include US Oilfield Technologies, and Offshore Oil & Gas Exploration & Production. |
| Weak multi-year price returns2Y Excs Rtn is -32%, 3Y Excs Rtn is -63% |
| Expensive valuation multiplesP/EPrice/Earnings or Price/(Net Income) is 66x |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -5.1%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -13% |
| Key risksMUR key risks include [1] a deteriorating success rate in its exploration programs, Show more. |
Qualitative Assessment
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Updated on 6/3/2026
Murphy Oil (MUR) stock has gained about 20% since 2/28/2026 because of the following key factors:
1. Favorable Crude Oil Price Environment: Macroeconomic factors played a significant role as crude oil prices surged. WTI crude prices increased approximately 50% from January to March 2026. This upward trend was fueled by instability in the energy market, particularly due to military operations involving the United States and Iran at the end of February 2026, which saw WTI rise to $113.13. Prices remained elevated, holding around $100 per barrel for several months.
2. Strong First Quarter 2026 Financial Performance: Murphy Oil reported robust Q1 2026 earnings on May 6, 2026. The company posted an adjusted earnings per share (EPS) of $0.32, surpassing analyst estimates of $0.29 by $0.03. Additionally, revenue reached $733.55 million, exceeding expectations by 3.7% to 4.22%. Production exceeded guidance, reaching 174,000 barrels of oil equivalent per day, and the company benefited from an unhedged position, realizing an average oil price of $72.28 per barrel.
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Murphy Oil (MUR) stock has gained about 20% since 2/28/2026 because of the following key factors:
1. Favorable Crude Oil Price Environment: Macroeconomic factors played a significant role as crude oil prices surged. WTI crude prices increased approximately 50% from January to March 2026. This upward trend was fueled by instability in the energy market, particularly due to military operations involving the United States and Iran at the end of February 2026, which saw WTI rise to $113.13. Prices remained elevated, holding around $100 per barrel for several months.
2. Strong First Quarter 2026 Financial Performance: Murphy Oil reported robust Q1 2026 earnings on May 6, 2026. The company posted an adjusted earnings per share (EPS) of $0.32, surpassing analyst estimates of $0.29 by $0.03. Additionally, revenue reached $733.55 million, exceeding expectations by 3.7% to 4.22%. Production exceeded guidance, reaching 174,000 barrels of oil equivalent per day, and the company benefited from an unhedged position, realizing an average oil price of $72.28 per barrel.
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Stock Movement Drivers
Fundamental Drivers
The 18.2% change in MUR stock from 2/28/2026 to 6/14/2026 was primarily driven by a 46.7% change in the company's P/E Multiple.| (LTM values as of) | 2282026 | 6142026 | Change |
|---|---|---|---|
| Stock Price ($) | 32.86 | 38.84 | 18.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,690 | 2,749 | 2.2% |
| Net Income Margin (%) | 3.9% | 3.1% | -21.0% |
| P/E Multiple | 45.0 | 66.0 | 46.7% |
| Shares Outstanding (Mil) | 143 | 143 | -0.2% |
| Cumulative Contribution | 18.2% |
Market Drivers
2/28/2026 to 6/14/2026| Return | Correlation | |
|---|---|---|
| MUR | 18.2% | |
| Market (SPY) | 8.4% | -50.1% |
| Sector (XLE) | 3.6% | 79.3% |
Fundamental Drivers
The 23.4% change in MUR stock from 11/30/2025 to 6/14/2026 was primarily driven by a 109.7% change in the company's P/E Multiple.| (LTM values as of) | 11302025 | 6142026 | Change |
|---|---|---|---|
| Stock Price ($) | 31.46 | 38.84 | 23.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,746 | 2,749 | 0.1% |
| Net Income Margin (%) | 5.2% | 3.1% | -41.1% |
| P/E Multiple | 31.5 | 66.0 | 109.7% |
| Shares Outstanding (Mil) | 143 | 143 | -0.2% |
| Cumulative Contribution | 23.4% |
Market Drivers
11/30/2025 to 6/14/2026| Return | Correlation | |
|---|---|---|
| MUR | 23.4% | |
| Market (SPY) | 9.2% | -19.7% |
| Sector (XLE) | 29.2% | 72.7% |
Fundamental Drivers
The 93.9% change in MUR stock from 5/31/2025 to 6/14/2026 was primarily driven by a 791.4% change in the company's P/E Multiple.| (LTM values as of) | 5312025 | 6142026 | Change |
|---|---|---|---|
| Stock Price ($) | 20.03 | 38.84 | 93.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,896 | 2,749 | -5.1% |
| Net Income Margin (%) | 13.5% | 3.1% | -77.3% |
| P/E Multiple | 7.4 | 66.0 | 791.4% |
| Shares Outstanding (Mil) | 144 | 143 | 0.8% |
| Cumulative Contribution | 93.9% |
Market Drivers
5/31/2025 to 6/14/2026| Return | Correlation | |
|---|---|---|
| MUR | 93.9% | |
| Market (SPY) | 27.3% | -1.7% |
| Sector (XLE) | 45.7% | 75.2% |
Fundamental Drivers
The 25.2% change in MUR stock from 5/31/2023 to 6/14/2026 was primarily driven by a 1633.9% change in the company's P/E Multiple.| (LTM values as of) | 5312023 | 6142026 | Change |
|---|---|---|---|
| Stock Price ($) | 31.02 | 38.84 | 25.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 4,189 | 2,749 | -34.4% |
| Net Income Margin (%) | 30.3% | 3.1% | -89.9% |
| P/E Multiple | 3.8 | 66.0 | 1633.9% |
| Shares Outstanding (Mil) | 156 | 143 | 8.9% |
| Cumulative Contribution | 25.2% |
Market Drivers
5/31/2023 to 6/14/2026| Return | Correlation | |
|---|---|---|
| MUR | 25.2% | |
| Market (SPY) | 84.5% | 33.0% |
| Sector (XLE) | 65.7% | 80.8% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| MUR Return | 121% | 69% | 2% | -27% | 9% | 26% | 282% |
| Peers Return | 127% | 54% | -3% | -6% | -1% | 31% | 317% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 8% | 97% |
Monthly Win Rates [3] | |||||||
| MUR Win Rate | 67% | 58% | 33% | 33% | 67% | 67% | |
| Peers Win Rate | 78% | 60% | 52% | 45% | 60% | 77% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| MUR Max Drawdown | -25% | -40% | -26% | -41% | -41% | -16% | |
| Peers Max Drawdown | -25% | -34% | -27% | -28% | -28% | -14% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: COP, EOG, FANG, DVN, OVV. See MUR Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 6/12/2026 (YTD)
How Low Can It Go
| Event | MUR | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -30.9% | -18.8% |
| % Gain to Breakeven | 44.7% | 23.1% |
| Time to Breakeven | 161 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -10.2% | -7.8% |
| % Gain to Breakeven | 11.3% | 8.5% |
| Time to Breakeven | 589 days | 18 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -22.7% | -6.7% |
| % Gain to Breakeven | 29.3% | 7.1% |
| Time to Breakeven | 88 days | 31 days |
| 2020 COVID-19 Crash | ||
| % Loss | -79.1% | -33.7% |
| % Gain to Breakeven | 377.8% | 50.9% |
| Time to Breakeven | 425 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -35.0% | -19.2% |
| % Gain to Breakeven | 53.9% | 23.8% |
| Time to Breakeven | 1109 days | 105 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -14.5% | -3.7% |
| % Gain to Breakeven | 16.9% | 3.9% |
| Time to Breakeven | 157 days | 6 days |
In The Past
Murphy Oil's stock fell -30.9% during the 2025 US Tariff Shock. Such a loss loss requires a 44.7% gain to breakeven.
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| Event | MUR | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -30.9% | -18.8% |
| % Gain to Breakeven | 44.7% | 23.1% |
| Time to Breakeven | 161 days | 79 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -22.7% | -6.7% |
| % Gain to Breakeven | 29.3% | 7.1% |
| Time to Breakeven | 88 days | 31 days |
| 2020 COVID-19 Crash | ||
| % Loss | -79.1% | -33.7% |
| % Gain to Breakeven | 377.8% | 50.9% |
| Time to Breakeven | 425 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -35.0% | -19.2% |
| % Gain to Breakeven | 53.9% | 23.8% |
| Time to Breakeven | 1109 days | 105 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -50.3% | -12.2% |
| % Gain to Breakeven | 101.0% | 13.9% |
| Time to Breakeven | 91 days | 62 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -73.5% | -6.8% |
| % Gain to Breakeven | 276.8% | 7.3% |
| Time to Breakeven | 2466 days | 15 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -39.3% | -17.9% |
| % Gain to Breakeven | 64.7% | 21.8% |
| Time to Breakeven | 554 days | 123 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -20.9% | -15.4% |
| % Gain to Breakeven | 26.5% | 18.2% |
| Time to Breakeven | 88 days | 125 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -55.6% | -53.4% |
| % Gain to Breakeven | 125.0% | 114.4% |
| Time to Breakeven | 1779 days | 1085 days |
In The Past
Murphy Oil's stock fell -30.9% during the 2025 US Tariff Shock. Such a loss loss requires a 44.7% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Murphy Oil (MUR)
Murphy Oil Corporation, together with its subsidiaries, operates as an oil and natural gas exploration and production company in the United States, Canada, and internationally. It explores for and produces crude oil, natural gas, and natural gas liquids. The company was formerly known as Murphy Corporation and changed its name to Murphy Oil Corporation in 1964. The company was incorporated in 1950 and is headquartered in Houston, Texas.
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Like an ExxonMobil or Chevron, but focused exclusively on finding and producing oil and natural gas.
Essentially, the 'upstream' (exploration and extraction) division of a major oil company like Shell or BP, operating as an independent company.
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- Crude Oil: A refined petroleum product extracted from the earth for various energy and industrial uses.
- Natural Gas: A fossil energy source, primarily methane, used for heating, electricity generation, and industrial processes.
- Natural Gas Liquids (NGLs): Hydrocarbons separated from natural gas, utilized as feedstocks for petrochemicals and as fuel.
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Murphy Oil (MUR) operates as an oil and natural gas exploration and production company, meaning it extracts raw crude oil, natural gas, and natural gas liquids. These are commodity products sold to other businesses for processing, distribution, or trading. Due to the commodity nature of its products and diversified sales channels, Murphy Oil does not publicly disclose specific "major customers" that account for a significant portion of its revenue in its financial filings.
However, its products are primarily sold to the following types of companies:
- Refiners: Companies that process crude oil into refined products such as gasoline, diesel, and jet fuel.
- Integrated Oil Companies: Large companies involved in multiple segments of the oil and gas industry, including exploration, production, refining, and marketing.
- Marketers and Other Purchasers: This category typically includes commodity trading firms, natural gas utilities, petrochemical plants, and other industrial users that buy crude oil, natural gas, and natural gas liquids for further processing, distribution, or resale.
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The management team members for Murphy Oil Corporation (MUR) are as follows:Eric M. Hambly
President and Chief Executive Officer Eric M. Hambly assumed the role of President and Chief Executive Officer of Murphy Oil Corporation on January 1, 2025. He previously served as President and Chief Operating Officer from February to December 2024, and as Executive Vice President, Operations from 2020 to 2024. Mr. Hambly joined Murphy in 2006 and has over 26 years of industry experience, having been instrumental in the success of the company's global exploration and production operations, with assignments in Malaysia, Singapore, onshore U.S., and offshore U.S. Gulf of Mexico. He holds both bachelor's and master's degrees in chemical engineering from Brigham Young University and has completed the Advanced Management Program at Harvard Business School.Thomas J. “Tom” Mireles
Executive Vice President & Chief Financial Officer Thomas J. "Tom" Mireles serves as the Executive Vice President and Chief Financial Officer for Murphy Oil Corporation. Mr. Mireles joined Murphy in 2005 as a Senior Staff Analyst and has taken on roles of increasing responsibility, including Senior Manager Planning & Business Development, and Senior Vice President, Western and Eastern Hemispheres. He was promoted to Senior Vice President, Technical Services in 2018 and was elected to his current role in 2022. Mr. Mireles holds bachelor's and master's degrees in Petroleum Engineering from Texas A&M University and an MBA from the London Business School. He also completed the Advanced Management Program at Harvard Business School.E. Ted Botner
Executive Vice President, General Counsel & Corporate Secretary E. Ted Botner is the Executive Vice President, General Counsel & Corporate Secretary. He joined Murphy in 2001 as an attorney and has held various positions with increasing responsibilities in the U.S. and Malaysia. He was promoted to Senior Vice-President, General Counsel and Corporate Secretary in 2020, and subsequently named Executive Vice-President in February 2024.Maria A. Martinez
Senior Vice President, Human Resources, Administration and Communications Maria A. Martinez is the Senior Vice President, Human Resources, Administration and Communications. She was elected Vice President, Human Resources & Administration of Murphy Oil Corporation in 2018 and is responsible for global human resources and administration. Ms. Martinez joined Murphy Exploration & Production Company, a wholly-owned subsidiary, in 2010 as Manager, Human Resources, and advanced through roles of increasing responsibility.Daniel R. Hanchera
Senior Vice President, Business Development Daniel R. Hanchera serves as the Senior Vice President, Business Development for Murphy Oil Corporation.AI Analysis | Feedback
The key risks to Murphy Oil's business are:
-
Volatility in Global Crude Oil and Natural Gas Prices: Murphy Oil's financial performance is highly susceptible to fluctuations in global crude oil and natural gas prices. Lower prices can significantly reduce cash flows, net income, and the company's ability to grow production and add proved reserves. Recent geopolitical events and tensions in the Middle East further underscore the impact of external factors on commodity prices, directly affecting Murphy Oil's cash flows and stock performance.
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Operational Hazards and Execution Risks for Exploration and Production Projects: The company faces inherent operational risks associated with its oil and natural gas exploration and production activities, including those related to hydraulic fracturing operations. Specifically, offshore projects in areas such as the Gulf of Mexico, Vietnam, and Côte d'Ivoire carry substantial execution, timing, and cost risks. Issues like cost overruns or uptime problems in these capital-intensive projects can pressure cash flow timing and negatively impact credit metrics.
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Regulatory and Environmental/Sustainability Concerns: Murphy Oil is subject to numerous environmental, health, and safety laws and regulations, with non-compliance potentially resulting in significant liabilities and costs. There is increasing scrutiny from investors and stakeholders regarding sustainability activities, climate change, and the transition to a lower-carbon economy. This evolving landscape, including the possibility of climate change litigation and shifts in investor sentiment away from fossil fuels, could affect the company's access to financing and increase its cost of capital.
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The primary clear emerging threat to Murphy Oil is the accelerating global energy transition, driven by:
-
Rapid Adoption of Electric Vehicles (EVs): The increasing market penetration and policy support for electric vehicles in major global economies threaten long-term demand for crude oil products, particularly gasoline and diesel, which form a significant portion of the end-use market for upstream oil producers.
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Declining Costs and Scaling of Renewable Energy: The continuous reduction in the cost of renewable energy technologies, such as solar and wind power, coupled with advancements in battery storage, poses a threat to the demand for natural gas in electricity generation, as renewables become increasingly competitive and preferred energy sources.
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Murphy Oil, an oil and natural gas exploration and production company, operates within the markets for crude oil, natural gas, and natural gas liquids (NGLs). Here are the addressable market sizes for their main products:Crude Oil
- The global crude oil market was valued at USD 751.72 billion in 2024 and is projected to grow to USD 867.16 billion by 2033, with a compound annual growth rate (CAGR) of 1.6% from 2026 to 2033. Another estimate valued the global market at $2.6 trillion in 2023, expected to reach $3.0 trillion by 2033, with a CAGR of 1.5% from 2024 to 2033.
- In terms of volume, the global crude oil market was approximately 101.40 million barrels per day (MB/d) in 2025 and is projected to reach around 110.90 MB/d by 2035, growing at a CAGR of 0.90%.
- The United States is the largest producer of crude oil globally, with production averaging 12.9 million barrels per day (b/d) in 2023, and a monthly record of over 13.3 million b/d in December 2023. The U.S. produced 22,844,371 barrels per day of oil as of 2024. North America dominated the crude oil market with approximately 52% of the market share in 2022.
- Canada's crude oil and equivalent production reached a record high of 298.8 million cubic meters in 2024. Canadian production averaged 5.13 million barrels per day (MMb/d) of crude oil and equivalents in 2024. In 2024, Canada exported a total of $106 billion in crude petroleum.
Natural Gas
- The global natural gas market was valued at $1,186.56 billion in 2024 and is projected to reach $1,823.77 billion by 2032, exhibiting a CAGR of 5.52% during the forecast period of 2025-2032. Another estimate placed the global market size at $1,478.66 billion in 2025, growing to $1,591.93 billion in 2026 with a CAGR of 7.7%.
- The U.S. natural gas market size is anticipated to be US$473.4 billion in 2025 and is projected to reach US$601.8 billion by 2032, with a CAGR of 3.5%. In 2024, the U.S. natural gas market was valued at USD 454.5 billion and is expected to increase to USD 577.9 billion by 2032, at a CAGR of 3.2% from 2025–2032. U.S. natural gas production hit a record 108 billion cubic feet per day (bcf/d) in July 2025.
- In Canada, domestic natural gas sales totaled 4.32 trillion cubic feet in 2022, with an additional 2.94 trillion cubic feet exported. The natural gas distribution sector contributed over $5.1 billion to Canada's GDP in 2022.
Natural Gas Liquids (NGLs)
- The global natural gas liquids market size was estimated at USD 25.19 billion in 2025 and is expected to reach USD 50.06 billion by 2035, growing at a CAGR of 7.11%. Other estimates include a market size of USD 16.3 billion in 2025, reaching USD 29.4 billion by 2035 (CAGR 6.1% from 2026-2035), and USD 15.92 billion in 2025, growing to USD 24.24 billion by 2033 (CAGR 5.4% from 2026-2033).
- North America is the dominant region in the NGL market, with the U.S. leading in both production and consumption. North America produced over 10 million barrels per day (bpd) of NGLs in 2023, accounting for more than 80% of global NGL production. The North America NGL Market is estimated to grow from USD 7.08 billion in 2024 to USD 11.53 billion in 2033, at a CAGR of 5.57%.
- The U.S. natural gas liquids market size was estimated at USD 5.9 billion in 2024 and is projected to grow to USD 10.6 billion by 2035, exhibiting a CAGR of 5.4% from 2025-2035.
- The Canadian natural gas liquids market generated a revenue of USD 814.4 million in 2024 and is expected to reach USD 1,401.7 million by 2030, with a CAGR of 9.5% from 2025 to 2030. Canada's NGL production was 716.43 thousand barrels per day in 2023. In 2024, daily exports of Canadian NGLs averaged 218.3 thousand barrels per day for propane and 56.1 thousand barrels per day for butane.
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Murphy Oil Corporation (MUR) is expected to drive future revenue growth over the next 2-3 years through several key initiatives focused on increasing production volumes and benefiting from market conditions.
Here are 4 expected drivers of future revenue growth:
- Increased Production from Key Offshore Development Projects: Murphy Oil anticipates significant contributions from its ongoing offshore projects. The Lac Da Vang (Golden Camel) development project in Vietnam is on schedule for first oil in the fourth quarter of 2026 and is expected to ramp up production through 2027. This project is projected to add 10,000-15,000 barrels of oil per day by 2026, with potential for 30,000-50,000 barrels of oil equivalent per day by the early 2030s. Additionally, the company is focused on high-margin offshore projects in the Gulf of Mexico, including recent discoveries at the Cello #1 and Banjo #1 wells and the anticipated online status of the Chinook 8 well in the second half of 2026. Expansions at Marmalard and Neidermeyer are also expected to add 15,000 boe/d by 2026.
- Sustained Growth from Montney Shale Production: In its Canadian operations, Murphy Oil is targeting a 10% annual production increase through 2025 in the Montney program. This growth is anticipated to be achieved through advanced horizontal drilling and enhanced completion techniques.
- Successful Exploration and New Ventures Leading to Future Developments: The company continues to prioritize exploration efforts, with successful appraisal results in Vietnam (Hai Su Vang) highlighting future potential. Murphy Oil has also entered new exploration ventures, such as securing an operated working interest in Morocco's Gharb Deep Offshore deepwater block and continuing a three-well exploration program in Côte d'Ivoire. While these are longer-term initiatives, successful exploration leading to rapid development could transition into revenue-generating assets within the 2-3 year timeframe, as seen with the Lac Da Vang project.
- Favorable Commodity Price Environment: A significant driver of revenue for an exploration and production company like Murphy Oil is the prevailing prices of crude oil and natural gas. The company's financial outlook indicates robust free cash flow generation under various price scenarios, with upside potential for cash flow accelerating if oil prices remain above $80 per barrel. Realized price strength was a key factor in the company's 2025 revenues.
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Share Repurchases
- In 2025, Murphy Oil Corporation repurchased $100 million of its common stock, equating to 3.6 million shares.
- As of December 31, 2025, the company had $550 million remaining under its board-authorized share repurchase program.
Share Issuance
- Murphy Oil Corporation had 142.8 million shares outstanding as of December 31, 2025.
Outbound Investments
- In 2025, Murphy Oil Corporation completed the strategic acquisition of the Pioneer floating production, storage and offloading (FPSO) vessel in the Gulf of America for a net purchase price of $104 million.
- During 2025, the company signed a Petroleum Agreement to secure an operated working interest position in Morocco's Gharb Deep Offshore deepwater block, covering over 4 million acres.
Capital Expenditures
- Murphy Oil Corporation's capital expenditures for the full year 2025 reached $1.157 billion, excluding acquisition-related costs of $29.0 million.
- The company's capital expenditure guidance for 2026 is projected to be between $1.2 billion and $1.3 billion.
- Approximately 75% of the 2026 capital spend is allocated to development activities, with the remaining directed towards exploration drilling, appraisal drilling, seismic data acquisitions, and corporate capital expenditures. A key focus for 2026 capital is increasing investment in Gulf of America assets, particularly for the Chinook #8 well, and continued development in Vietnam, including the Lac Da Vang field.
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 87.22 |
| Mkt Cap | 41.1 |
| Rev LTM | 15,826 |
| Op Inc LTM | 3,920 |
| FCF LTM | 2,062 |
| FCF 3Y Avg | 1,476 |
| CFO LTM | 7,328 |
| CFO 3Y Avg | 6,888 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | -0.4% |
| Rev Chg 3Y Avg | -6.4% |
| Rev Chg Q | 5.5% |
| QoQ Delta Rev Chg LTM | 1.5% |
| Op Inc Chg LTM | -15.3% |
| Op Inc Chg 3Y Avg | -21.5% |
| Op Mgn LTM | 21.4% |
| Op Mgn 3Y Avg | 24.7% |
| QoQ Delta Op Mgn LTM | -0.9% |
| CFO/Rev LTM | 44.0% |
| CFO/Rev 3Y Avg | 44.2% |
| FCF/Rev LTM | 12.4% |
| FCF/Rev 3Y Avg | 14.3% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 41.1 |
| P/S | 2.2 |
| P/Op Inc | 10.5 |
| P/EBIT | 15.5 |
| P/E | 19.8 |
| P/CFO | 5.5 |
| Total Yield | 7.5% |
| Dividend Yield | 2.5% |
| FCF Yield 3Y Avg | 5.8% |
| D/E | 0.3 |
| Net D/E | 0.2 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -4.3% |
| 3M Rtn | 3.5% |
| 6M Rtn | 24.2% |
| 12M Rtn | 29.3% |
| 3Y Rtn | 30.0% |
| 1M Excs Rtn | -0.3% |
| 3M Excs Rtn | -8.6% |
| 6M Excs Rtn | 14.1% |
| 12M Excs Rtn | 10.2% |
| 3Y Excs Rtn | -47.2% |
Comparison Analyses
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Single Segment | 2,690 | 3,019 | 3,449 | ||
| Crude oil and condensate revenue | 3,358 | 2,323 | |||
| Natural gas liquids revenue | 143 | 111 | |||
| Natural gas revenue | 538 | 368 | |||
| Sales of purchased natural gas | 182 | ||||
| Total | 2,690 | 3,019 | 3,449 | 4,220 | 2,801 |
| $ Mil | 2008 | 2006 | 2005 | 2004 | 2003 |
|---|---|---|---|---|---|
| Exploration and Production | 1,600 | ||||
| Refining and Marketing | 314 | 105 | 125 | 82 | -11 |
| Exploration & Production | 616 | 748 | 512 | 326 | |
| Other | -36 | -98 | |||
| Total | 1,914 | 721 | 838 | 496 | 315 |
| $ Mil | 2015 | 2014 | 2013 | 2012 | 2011 |
|---|---|---|---|---|---|
| United States | 5,718 | 5,746 | 4,530 | ||
| Malaysia | 2,537 | 4,887 | 6,121 | ||
| Canada | 2,461 | 3,770 | 4,088 | ||
| Corporate and Other | 592 | 1,774 | 1,265 | ||
| Other | 148 | 139 | 129 | ||
| Discontinued operations | 38 | 427 | |||
| Adjustments | 1,325 | ||||
| Republic of the Congo | 52 | ||||
| Corporate and other | 1,233 | 791 | |||
| Exploration & Production | 13,103 | 10,347 | |||
| Refining and Marketing | 3,187 | 3,000 | |||
| Total | 11,494 | 16,742 | 17,510 | 17,523 | 14,138 |
Price Behavior
Price Behavior
| Market Price | $38.84 | |
| Market Cap ($ Bil) | 5.6 | |
| First Trading Date | 04/06/1983 | |
| Distance from 52W High | -8.3% | |
| 50 Days | 200 Days | |
| DMA Price | $38.78 | $32.58 |
| DMA Trend | up | up |
| Distance from DMA | 0.1% | 19.2% |
| 3M | 1YR | |
| Volatility | 47.2% | 47.7% |
| Downside Capture | -189.99 | -67.17 |
| Upside Capture | -89.68 | 6.52 |
| Correlation (SPY) | -50.5% | -2.7% |
MUR Betas & Captures as of 5/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | -2.93 | -3.13 | -1.98 | -0.84 | -0.07 | 0.91 |
| Up Beta | -4.09 | -4.18 | -3.01 | -2.01 | -0.84 | 1.09 |
| Down Beta | -3.37 | -1.83 | -0.97 | 1.01 | 1.30 | 1.64 |
| Up Capture | -221% | -128% | -92% | -48% | 11% | 13% |
| Bmk +ve Days | 13 | 28 | 36 | 67 | 141 | 432 |
| Stock +ve Days | 8 | 22 | 36 | 66 | 130 | 381 |
| Down Capture | -248% | -505% | -346% | -199% | -132% | 68% |
| Bmk -ve Days | 7 | 13 | 27 | 57 | 109 | 318 |
| Stock -ve Days | 11 | 18 | 26 | 57 | 118 | 367 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with MUR | |
|---|---|---|---|---|
| MUR | 67.2% | 47.6% | 1.23 | - |
| Sector ETF (XLE) | 37.8% | 20.6% | 1.45 | 74.9% |
| Equity (SPY) | 24.9% | 12.3% | 1.52 | -3.0% |
| Gold (GLD) | 25.5% | 27.4% | 0.81 | -0.3% |
| Commodities (DBC) | 30.1% | 19.0% | 1.25 | 54.8% |
| Real Estate (VNQ) | 13.5% | 13.5% | 0.69 | -0.1% |
| Bitcoin (BTCUSD) | -41.7% | 42.2% | -1.16 | 18.2% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with MUR | |
|---|---|---|---|---|
| MUR | 13.8% | 46.1% | 0.43 | - |
| Sector ETF (XLE) | 20.1% | 26.0% | 0.70 | 84.2% |
| Equity (SPY) | 13.5% | 17.1% | 0.61 | 38.6% |
| Gold (GLD) | 16.8% | 18.2% | 0.75 | 8.9% |
| Commodities (DBC) | 8.4% | 19.4% | 0.33 | 60.6% |
| Real Estate (VNQ) | 2.8% | 18.8% | 0.05 | 27.9% |
| Bitcoin (BTCUSD) | 13.6% | 54.4% | 0.44 | 15.6% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with MUR | |
|---|---|---|---|---|
| MUR | 6.2% | 55.4% | 0.34 | - |
| Sector ETF (XLE) | 10.0% | 29.6% | 0.38 | 82.8% |
| Equity (SPY) | 15.3% | 17.9% | 0.73 | 44.2% |
| Gold (GLD) | 12.5% | 16.1% | 0.64 | 3.4% |
| Commodities (DBC) | 6.7% | 18.0% | 0.29 | 58.1% |
| Real Estate (VNQ) | 5.7% | 20.7% | 0.24 | 34.5% |
| Bitcoin (BTCUSD) | 60.3% | 66.8% | 1.00 | 13.3% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Updated 6/9/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/6/2026 | -1.7% | -1.2% | 0.2% |
| 1/28/2026 | -1.1% | 0.9% | 6.6% |
| 11/5/2025 | 5.3% | 8.6% | 23.2% |
| 8/6/2025 | -3.3% | -1.6% | 7.0% |
| 5/7/2025 | 1.8% | 9.4% | 8.7% |
| 1/30/2025 | -5.9% | -8.6% | -8.2% |
| 11/7/2024 | 0.6% | -1.2% | -7.9% |
| 8/8/2024 | 0.9% | 0.1% | -5.0% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 12 | 14 | 14 |
| # Negative | 12 | 10 | 10 |
| Median Positive | 2.0% | 6.1% | 9.1% |
| Median Negative | -3.2% | -5.1% | -6.2% |
| Max Positive | 5.8% | 12.7% | 64.5% |
| Max Negative | -7.6% | -15.5% | -14.8% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/06/2026 | 10-Q |
| 12/31/2025 | 02/25/2026 | 10-K |
| 09/30/2025 | 11/05/2025 | 10-Q |
| 06/30/2025 | 08/06/2025 | 10-Q |
| 03/31/2025 | 05/07/2025 | 10-Q |
| 12/31/2024 | 02/27/2025 | 10-K |
| 09/30/2024 | 11/07/2024 | 10-Q |
| 06/30/2024 | 08/08/2024 | 10-Q |
| 03/31/2024 | 05/02/2024 | 10-Q |
| 12/31/2023 | 02/23/2024 | 10-K |
| 09/30/2023 | 11/02/2023 | 10-Q |
| 06/30/2023 | 08/03/2023 | 10-Q |
| 03/31/2023 | 05/03/2023 | 10-Q |
| 12/31/2022 | 02/27/2023 | 10-K |
| 09/30/2022 | 11/03/2022 | 10-Q |
| 06/30/2022 | 08/04/2022 | 10-Q |
Recent Forward Guidance
Updated 6/1/2026Latest: Q1 2026 Earnings Reported 5/6/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q2 2026 Total Net Production | 0.16 Mil | 0.17 Mil | 0.17 Mil | ||||
| Q2 2026 Capital Expenditures | 350.00 Mil | 390.00 Mil | 430.00 Mil | ||||
| Q2 2026 Exploration Expense | 70.00 Mil | 90.00 Mil | 110.00 Mil | ||||
| 2026 Total Net Production | 0.17 Mil | 0.17 Mil | 0.17 Mil | 0 | Affirmed | Guidance: 0.17 Mil for 2026 | |
| 2026 Capital Expenditures | 1.20 Bil | 1.25 Bil | 1.30 Bil | 0 | Affirmed | Guidance: 1.25 Bil for 2026 | |
| 2026 Exploration Expense | 220.00 Mil | 260.00 Mil | 300.00 Mil | ||||
Prior: Q4 2025 Earnings Reported 1/28/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q1 2026 Total Net Production | 0.16 Mil | 0.17 Mil | 0.17 Mil | -6.7% | Lowered | Guidance: 0.18 Mil for Q4 2025 | |
| Q1 2026 Capital Expenditures | 500.00 Mil | 540.00 Mil | 580.00 Mil | ||||
| Q1 2026 Exploration Expense | 100.00 Mil | 120.00 Mil | 140.00 Mil | 50.0% | Raised | Guidance: 80.00 Mil for Q4 2025 | |
| 2026 Total Net Production | 0.17 Mil | 0.17 Mil | 0.17 Mil | -4.2% | Lowered | Guidance: 0.18 Mil for 2025 | |
| 2026 Capital Expenditures | 1.20 Bil | 1.25 Bil | 1.30 Bil | 3.3% | Raised | Guidance: 1.21 Bil for 2025 | |
Industry Resources
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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Core Cache Last Updated: 6/14/2026