MUR - Murphy Oil jumps after Q4 results rise dividend lifted by 10%

Murphy Oil ( NYSE: MUR ) +4% in Thursday's trading after reporting Q4 adjusted earnings and revenues that rose from the prior-year period and hiking its quarterly dividend by 10% to $0.275/share.

Q4 net income attributable to shareholders rose to $199M, or $1.26/share, from $168.4M, or $1.08/share, in the same quarter a year ago, and revenues jumped 32% Y/Y to $975.2M from $739M a year earlier; Q4 adjusted EBITDA totaled $466M.

Q4 production averaged 173.6K boe/day (56% oil), evenly split between onshore and offshore operations.

Murphy ( MUR ) guided for FY 2023 capital spending of $875M-$1.025B and production of 175.5K-183.5K boe/day (55% oil), reflecting a 10% increase in oil volumes and 7% gain in total volumes from FY 2022.

For Q1, the company estimated production of 161K-169K boe/day (56% oil), impacted by planned downtime of 7.1K boe/day.

Murphy ( MUR ) expects lower capital spending than in 2022 while increasing overall production and more notably, oil production, compared to 2022.

Murphy Oil ( MUR ) shares rose 5.5% so far this year and 41% during the past year .

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