Murphy Oil: 3Q Earnings Snapshot
EL DORADO, Ark. (AP) _ Murphy Oil Corp. (MUR) on Wednesday reported third-quarter net income of $93.9 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the El Dorado, Arkansas-based company said it had profit of 54 cents. Earnings, adjusted for non-recurring gains, were 35 cents per share.
The results missed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 36 cents per share.
The oil and gas producer posted revenue of $674.8 million in the period, surpassing Street forecasts. Five analysts surveyed by Zacks expected $641.5 million.
Murphy Oil shares have climbed 2.5 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased 5 percent. In the final minutes of trading on Wednesday, shares hit $31.82, a rise of nearly 9 percent in the last 12 months.