Murphy Oil Corporation (MUR) is acting to generate shareholder value. The company announced, on October 16, plans to separate its downstream business operations. This decision was announced less than two weeks after a meeting with hedge fund Third Point LLC to unlock shareholder value. The proposed 2013 spinoff will take advantage of currently, and potentially continuing, downstream profit margins. The separation of the two businesses promotes a catalyst to invest in each independent business niche.
* Murphy Oil Corporation announced the following actions:
* announcement of a $2.50 special dividend payable on December 3rd,
* enactment of a $1 billion share buyback plan,
* announcement of a 2013 separation of the downstream operations into an independent company, pending IRS approval.
Murphy Oil Corporation is currently focused on upstream (exploration and production or E&P) and downstream (refining, storage, marketing and retail distribution) crude oil, natural gas and refined products operations in the U.S., Canada, U.K. and Malaysia, and to a lesser extent in other parts of the world.
Read Todd Johnsons entire Seeking Alpha article.
Sunday, January 20, 2013
Wednesday, November 28, 2012
Murphy Oil Powers Ahead On Downstream Spin Off
Murphy Oil Corporation (MUR) is acting to generate shareholder value. The company announced, on October 16th, plans to separate its downstream business operations. This decision was announced less than 2 weeks after a meeting with hedge fund Third Point LLC to unlock shareholder value. The proposed 2013 spinoff will take advantage currently - and potentially continuing - downstream profit margins. The separation of the 2 businesses promotes a catalyst to invest in each independent business niche.
Murphy Oil Corporation announced the following actions:
1) announcement of a $2.50 special dividend payable on December 3rd,
2) enactment of a $1 billion share buyback plan,
3) announcement of a 2013 separation of the downstream operations into an independent company, pending IRS approval.
Murphy Oil Corporation is currently focused on upstream (exploration and production or E&P) and downstream (refining, storage, marketing and retail distribution) crude oil, natural gas and refined products operations in the US, Canada, UK and Malaysia, and to a lesser extent in other parts of the world.
Read Todds entire post on Seeking Alpha
Click here for your free trend analysis for Murphy Oil Corp.
Sunday, November 4, 2012
Murphy Oil Announces Preliminary Quarterly Earnings
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Murphy Oil Corporation (NYSE: MUR) announced today that income from continuing operations in the third quarter of 2012 was $228.9 million ($1.17 per diluted share) compared to $347.3 million ($1.79 per diluted share) in the third quarter of 2011. Net income, which includes the results of discontinued operations, was $226.7 million ($1.16 per diluted share) in the third quarter 2012 compared to $406.1 million ($2.09 per diluted share) in the 2011 third quarter. Earnings in the 2012 quarter were below prior year levels primarily due to the effects of lower North American natural gas sales prices, weaker U.S. retail marketing margins, an income tax benefit in the 2011 quarter, and an unfavorable variance from foreign exchange.
During the third quarter of 2012, the Company’s Board of Directors agreed to sell the Company’s exploration and production operations in the United Kingdom. The sale of these assets is expected to be completed near year end 2012. The results of these operations in both years, as well as the results of U.S. refining operations in 2011, are presented as discontinued operations. The results of discontinued operations was a loss of $2.2 million ($0.01 per diluted share) in the 2012 third quarter compared to income of $58.8 million ($0.30 per diluted share) in the 2011 quarter.
Read the entire earnings report
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Murphy Oil Corporation (NYSE: MUR) announced today that income from continuing operations in the third quarter of 2012 was $228.9 million ($1.17 per diluted share) compared to $347.3 million ($1.79 per diluted share) in the third quarter of 2011. Net income, which includes the results of discontinued operations, was $226.7 million ($1.16 per diluted share) in the third quarter 2012 compared to $406.1 million ($2.09 per diluted share) in the 2011 third quarter. Earnings in the 2012 quarter were below prior year levels primarily due to the effects of lower North American natural gas sales prices, weaker U.S. retail marketing margins, an income tax benefit in the 2011 quarter, and an unfavorable variance from foreign exchange.
During the third quarter of 2012, the Company’s Board of Directors agreed to sell the Company’s exploration and production operations in the United Kingdom. The sale of these assets is expected to be completed near year end 2012. The results of these operations in both years, as well as the results of U.S. refining operations in 2011, are presented as discontinued operations. The results of discontinued operations was a loss of $2.2 million ($0.01 per diluted share) in the 2012 third quarter compared to income of $58.8 million ($0.30 per diluted share) in the 2011 quarter.
Read the entire earnings report
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Tuesday, October 16, 2012
Murphy Oil Making Big Dividend and Buy Back News
MUR also authorizes a $2.50 per share special dividend and $1 billion share buyback program, and says it’s still working to divest its U.K. downstream operations and continuing to review options with respect to "selected assets."
Murphy Oil's move to spin off its U.S. fuel making and distribution business into a new company could unlock up $5 per share in trapped enterprise value, Simmons analysts say, and "could be a sign for more aggressive moves to continue to improve the valuation in shares".
Here is today's video on the stock market and commodities talking about a possible 6-12 week pullback in stocks
Wednesday, August 1, 2012
Murphy Oil Announces Preliminary Second Quarter 2012 Earnings
Murphy Oil Corporation (NYSE: MUR) announced today that income from continuing operations was $295.4 million ($1.52 per diluted share) in the 2012 second quarter, up from $280.0 million ($1.44 per diluted share) in the second quarter 2011.
The increase in 2012 earnings from continuing operations was mostly attributable to improved downstream results compared to the prior year’s quarter. Net income in the second quarter of 2012 was also $295.4 million ($1.52 per diluted share) compared to net income of $311.6 million ($1.60 per diluted share) in the second quarter of 2011. Net income in the 2011 second quarter included income from discontinued operations of $31.6 million ($0.16 per diluted share), which related to operating results of two U.S. refineries that were sold in the second half of 2011.
For the first six months of 2012, income from continuing operations was $585.5 million ($3.01 per diluted share), an improvement from $518.5 million ($2.66 per diluted share) in 2011. For the six month period of 2012, net income totaled the same $585.5 million ($3.01 per diluted share), but net income of $580.5 million ($2.98 per diluted share) for the first six months in 2011 included income from discontinued operations of $62.0 million ($0.32 per diluted share).
Read the entire Murphy Oil Corp. earnings report
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Tuesday, July 17, 2012
Is Natural Gas Ready To Rally?
If you are following MUR then you are following natural gas. Today we take a close look at the nat gas ETF, UNG , and ask ourseleves....Is Natural Gas Ready To Rally?
Natural gas (UNG) has recently caught my attention. While it was in a significant downtrend for the better part of a year it has recently been consolidating right under the $20 level. A look at the daily chart shows a long move down and then recently a sideways consolidation pattern. While this is typically a continuation pattern I am beginning to believe think that the next move may be up rather than an extension of the previous down trend.
* Over the last two weeks there been significant support above $18 and significant volume.
* The $20/$20.50 level has been tested multiple times and the more tests it undertakes the more likely it is to break.
* Both the 20 day and 50 day moving averages have turned upwards and UNG is trading above both.
If we zoom in a bit and take a look at the hourly chart we are presented with two scenarios
1. The rising wedge holds and UNG breaks through the $20 – $20.50 resistance level on high volume and a new long term up trend is produced
2. The head and shoulders pattern within the wedge breaks downwards and the downtrend resumes
I’m leaning towards option one but will be waiting for a breakout confirmed with volume in either case.
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Natural gas (UNG) has recently caught my attention. While it was in a significant downtrend for the better part of a year it has recently been consolidating right under the $20 level. A look at the daily chart shows a long move down and then recently a sideways consolidation pattern. While this is typically a continuation pattern I am beginning to believe think that the next move may be up rather than an extension of the previous down trend.
* Over the last two weeks there been significant support above $18 and significant volume.
* The $20/$20.50 level has been tested multiple times and the more tests it undertakes the more likely it is to break.
* Both the 20 day and 50 day moving averages have turned upwards and UNG is trading above both.
If we zoom in a bit and take a look at the hourly chart we are presented with two scenarios
1. The rising wedge holds and UNG breaks through the $20 – $20.50 resistance level on high volume and a new long term up trend is produced
2. The head and shoulders pattern within the wedge breaks downwards and the downtrend resumes
I’m leaning towards option one but will be waiting for a breakout confirmed with volume in either case.
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Murphy Oil Schedules Earnings Conference Call
Murphy Oil Corporation (NYSE:MUR) has scheduled its conference call at 12:00 p.m. Central Time on Thursday, August 2nd, to review second quarter 2012 earnings, which will be announced Wednesday afternoon, August 1st.
Marketwire is handling arrangements for the call. Interested parties may participate by dialing 1-800-946-0706 and referencing reservation number 2949778. The call will also be broadcast live over the internet and can be accessed through the Investor Relations section of Murphy Oil’s Web site at http://www.murphyoilcorp.com/ir.
All investors, analysts, media, employees and the general public are invited to participate. Online replays of the call will be available through Murphy Oil’s Web site and a recording of the call will be available through Monday, August 6th, by dialing 1-888-203-1112 and referencing reservation number 2949778. Audio downloads will be available on the Murphy Web site through September 4th and via Thomson StreetEvents for their service subscribers
Marketwire is handling arrangements for the call. Interested parties may participate by dialing 1-800-946-0706 and referencing reservation number 2949778. The call will also be broadcast live over the internet and can be accessed through the Investor Relations section of Murphy Oil’s Web site at http://www.murphyoilcorp.com/ir.
All investors, analysts, media, employees and the general public are invited to participate. Online replays of the call will be available through Murphy Oil’s Web site and a recording of the call will be available through Monday, August 6th, by dialing 1-888-203-1112 and referencing reservation number 2949778. Audio downloads will be available on the Murphy Web site through September 4th and via Thomson StreetEvents for their service subscribers
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