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 .
For further details see:
Murphy Oil jumps after Q4 results rise, dividend lifted by 10%