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Murphy Oil Corp MUR

Rating as of

Morningstar’s Analysis

Valuation
Currency in USD
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1-Star Price

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5-Star Price

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Economic Moat

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Capital Allocation

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Murphy Shares Starting to Look Pricey After Rally

Analyst Note

| Dave Meats, CFA |

We have nudged our fair value for Murphy Oil to $26 from $25, after incorporating the firm's third-quarter financial and operating results. That's about 25% higher than where shares were trading as recently as September, but since then the stock has surged higher along with near-term oil prices. We think the market has gotten carried away and is mistakenly extrapolating spot prices. Our midcycle forecast is unchanged at $60 Brent.

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Company Profile

Business Description

Murphy Oil is an independent exploration and production company developing unconventional resources in the United States and Canada. At the end of 2020, the company reported net proven reserves of 715 million barrels of oil equivalent. Consolidated production averaged 174.5 thousand barrels of oil equivalent per day in 2020, at a ratio of 66% oil and natural gas liquids and 34% natural gas.

Contact
9805 Katy Freeway, Suite G-200
Houston, TX, 77024
T +1 281 675-9000
Sector Energy
Industry Oil & Gas E&P
Most Recent Earnings Sep 30, 2021
Fiscal Year End Dec 31, 2021
Stock Type Hard Assets
Employees 675

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