Murphy Oil Surpasses Q2 Earnings Expectations, Repurchases $56M Of Stock
Portfolio Pulse from Lekha Gupta
Murphy Oil Corp (NYSE:MUR) reported Q2 adjusted earnings per share of 81 cents, surpassing the consensus of 74 cents. Revenues were $802.77 million, slightly below the consensus of $813.46 million. The company repurchased $56 million of stock and announced a quarterly dividend of 30 cents per share. Murphy Oil also raised its share repurchase authorization by $500 million. The company expects Q3 net production of 181.5 to 189.5 MBOEPD. Investors can gain exposure to the stock via Harbor ETF Trust Harbor AlphaEdge Small Cap Earners ETF (NYSE:EBIT) and Vanguard Russell 2000 Value ETF (NASDAQ:VTWV).
August 08, 2024 | 12:54 pm
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POSITIVE IMPACT
Harbor ETF Trust Harbor AlphaEdge Small Cap Earners ETF provides exposure to Murphy Oil, which reported strong Q2 earnings and announced significant stock repurchases.
The positive performance of Murphy Oil is likely to benefit the Harbor ETF Trust Harbor AlphaEdge Small Cap Earners ETF, which includes MUR in its portfolio.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
Murphy Oil Corp reported Q2 adjusted earnings per share of 81 cents, beating the consensus of 74 cents. The company repurchased $56 million of stock and raised its share repurchase authorization by $500 million.
Murphy Oil's better-than-expected earnings and significant stock repurchase program are likely to positively impact its stock price in the short term. The raised share repurchase authorization further signals confidence in the company's financial health.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Vanguard Russell 2000 Value ETF provides exposure to Murphy Oil, which reported strong Q2 earnings and announced significant stock repurchases.
The positive performance of Murphy Oil is likely to benefit the Vanguard Russell 2000 Value ETF, which includes MUR in its portfolio.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 50